Job Creators Network President & CEO Alfredo Ortiz appeared on the Fox Business Network on Friday to discuss how the Federal Reserve’s rate hikes impact the U.S. economy.
“Small business confidence is sky-high as well. They continue to invest in their businesses — whether it’s higher wages, hiring more people, or investing right back into their businesses,” said Ortiz.
Ortiz, whose Job Creators Network organization is one of the nation’s largest grassroots pro-jobs groups, urged the Federal Reserve to “slowdown these interest rate [hikes].”
“In fact, we would love to see the December interest not go up,” he continued. “We’re really advocating for the Federal Reserve to really consider taking the interest rate hike off the table for December.”
Ortiz’s comments come just weeks after Bernie Marcus, Co-Founder of The Home Depot and Founder of Job Creators Network, called the impending Federal Reserve hikes “a threat” to the U.S. economy.
Federal Reserve interest rate increases can have the debilitating effect of diverting dollars consumers are eager to spend after the middle-class tax cuts and away from the small and medium-sized businesses, that Ortiz contends employ some “two-thirds of America’s job growth.”