Press Releases
Brendan Daly/Nadeam Elshami
202-226-7616
03/18/2008
Pelosi Statement on Rate Cut by the Federal Reserve Board
Washington, D.C. – Speaker Nancy Pelosi released the
following statement this afternoon in response to the Federal Reserve Board’s
decision to cut the Federal funds rate by 3/4 of a percentage point:
“Today’s Federal Reserve rate cut is another strong signal
of Chairman Bernanke’s commitment to addressing the consequences of the credit
crisis and restoring confidence in the markets.
“While the Fed is aggressively working to stabilize the
financial markets, the President said he would wait to see ‘if there needs to
be further action.’ Democrats believe
that the time is now to build on the Fed’s efforts, by taking action to ease
the economic burdens facing everyday Americans, especially those threatened by
foreclosure, unemployment and rising energy and health care costs.
“I am hopeful that the President will work with Congress to help families who are struggling to make ends meet.”