Press Release

For Immediate Release: September 7, 2007

Chairman Frank Calls on Federal Reserve to Cut Interest Rates

Washington, DC - Rep. Barney Frank (D-MA), Chairman of the House Committee on Financial Services, offered the following statement in response to this morning’s August employment report: 

“The deeply troubling August employment report should end any debate about the action that the Federal Reserve Board must take when the Open Market Committee meets on September 18th.  The notion that inflation risks out weigh the risks to output and employment growth is not supported by the evidence and a strong response is required – specifically, a meaningful interest rate cut.”