Chamber Commends Fed

WASHINGTON D.C. — The United States Chamber of Commerce commended the Federal Reserve today for leaving interest rates unchanged.

"With the economy showing signs of slowing and productivity growth keeping inflation in check, there was no pressing need for the Federal Reserve to raise interest rates again," said Martin A. Regalia, Chief Economist at the Chamber. "Housing, employment and consumer spending are all easing in response to Fed rate hikes which pushed the Federal Funds rate up 175 basis points over the last year.

"We have not yet seen all the effects from the past six rate increases and so it is imperative that the Fed continues its wait and see policy over the next several months," said Regalia.

The U.S. Chamber of Commerce is the world's largest business federation representing more than three million businesses and organizations of every size, sector and region.

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