Boyle Statement on December Fed Interest Rate Pause

WASHINGTON, D.C. — Today, Pennsylvania Congressman Brendan F. Boyle, Ranking Member of the House Budget Committee, released the following statement after the Federal Open Market Committee (FOMC) announced a continued pause in interest rate increases:

"Inflation is down while consumer sentiment and job growth are up," said Ranking Member Boyle. "With a soft landing well in sight, the Fed was right to continue the pause in interest rate increases. Thanks in no small part to the American Rescue Plan, the Inflation Reduction Act, and the historic infrastructure investments delivered by Democrats our post-pandemic economy has become the envy of the world. The Fed must not endanger this historic economic progress by unnecessarily continuing interest rate hikes."

"Democrats remain focused on continuing this progress and lowering costs for our families, but House Republicans are still wasting time pushing political stunts and an extreme, out-of-touch agenda. With just weeks to go until we face yet another MAGA shutdown crisis, House Republicans are hoping a partisan impeachment inquiry will distract from their complete inability to govern. Extreme MAGA Republicans are failing – and while they do Donald Trump's bidding, House Democrats are working for the American people."

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