(Washington – September 13, 2012) Representative Frank Guinta (R, NH-01) released the following statement regarding the Federal Reserve’s announcement of additional monetary stimulus. Guinta serves on the House Financial Services Committee:
“With the continued slow recovery and unemployment above 8 percent for 43 consecutive months, the Fed has again stepped in to prop up our ailing economy. It is now implementing a third round of its own monetary stimulus.
“However, I strongly oppose this unprecedented move because of long-term inflation and the devaluation of the dollar. These harmful policies will lower the purchasing power for hardworking Granite State families.
“It’s time to change tactics and start addressing the issues that can genuinely help job creators –such as preventing a massive tax hike at the end of this year and cutting red tape—to shift the recovery into high gear.”