Boyle Statement on March 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:

"Even with interest rates staying elevated, our economy has shown month after month that it remains resilient," said Ranking Member Boyle. "Just last month we added another 275,000 jobs, bringing us up to nearly 15 million jobs created under President Biden. Inflation is down significantly from its peak, and the Fed must not risk the progress we've made by maintaining these elevated interest rates for longer than necessary."

"Democrats know that for millions of Americans prices are simply still too high and homeownership too far out of reach. That's why we're working to continue lowering healthcare costs, combat corporate price-gouging by taking on junk fees, and lower housing costs for renters and first-time homebuyers. At the same time, we will never stop fighting back against Republicans who would make life harder for American families by cutting Social Security, gutting Medicare, and attacking critical programs."

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