[Congressional Record Volume 141, Number 20 (Wednesday, February 1, 1995)]
[House]
[Page H979]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


        INTEREST RATE HIKE COULD KILL JOBS, SLOW ECONOMY GROWTH

  (Ms. DeLAURO asked and was given permission to address the House for 
1 minute.)
  Ms. DeLAURO. Mr. Speaker, the Federal Reserve Board is meeting to 
consider yet another hike in interest rates. Democrats are united in 
opposing this increase, because we believe it will have a detrimental 
impact on working middle class families across the country.
  In 1994 the Fed raised interest rates six times. Those rate hikes 
were designed to slow economic growth and head off inflation. But 
another increase now could slow the economy right into a recession just 
as the economic recovery is reaching working families.
  In my home State of Connecticut, where job growth continues to lag 
behind the rest of the country, another rise in interest rates could 
kill jobs and keep the economy recovery from ever reaching hardworking 
families.
  Mr. Speaker, it is true that our economy is not at full health. But 
prescribing another interest rate hike as a cure is like prescribing 
brain surgery for a headache. It is unnecessary, and it could kill the 
patient.

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