Pelosi Statement on Today's Emergency Rate Cut by the Federal Reserve Board

January 22, 2008
Press Release
Washington, D.C.--Speaker Nancy Pelosi issued the following statement today after the Federal Reserve Board issued an emergency rate cut of a key interest rate by 3/4 of a percentage point:

'Today's emergency rate cut by the Federal Reserve Board indicates a commitment across all levels of government to revitalize the economy, restore confidence in the markets, and help Americans struggling with soaring bills for gasoline, groceries, housing and home heating.

'Congress is also taking action - working as quickly as possible in a bipartisan way with the Bush Administration to stimulate the economy by putting money into the hands of people who will spend it.  Any stimulus package will be timely, targeted, and temporary, and we are working with great speed to get this done and get relief to Americans.'