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Press Release
For Immediate Release: September 18, 2007
Frank Statement on the Federal Reserve's Interest Rate Cut
Washington, DC - Rep. Barney Frank, Chairman of the House Financial Services Committee, today offered the following statement regarding the Federal Reserve's interest rate cut:
“I am pleased the Federal Open Market Committee decided to cut the federal funds rate and the discount rate; I am surprised, however, that their continued concern about inflationary risk outweighs what I believe to be growing risks to sustained growth. I hope that, in this instance, markets and consumers will pay more attention to what the FOMC did than to what it said.”