In response to the Federal Reserve leaving interest rates unchanged,” AFL-CIO President Richard Trumka made the following statement:
We are pleased that the Federal Reserve has kept interest rates unchanged. We know the economic recovery still has not reached working families and even a small increase can have devastating effects on our economic stability.
The Federal Reserve is wise to not raise interest rates while inflation is running low and wages are flat. Real wages need to rise with productivity. We hope the Fed will now dedicate its time to producing economic policies that work for all and raise wages to a level that can sustain a family. An out of balance economy that exacerbates the incredible income inequality we see in this country must be fixed to strengthen our families and communities.
Contact: Carolyn Bobb (202) 637-5018