The Minnesota Federal Reserve chairman said Joe Biden's illegal immigration crisis is adding serious financial hardship to American citizens, including higher mortgage interest rates.
Democrats and the media have spent three years trying to convince ordinary Americans that the illegal immigration crisis is normal and causes no harm, but this is not true.
That's why this particular issue sparks outrage even among blue city liberals.
Breitbart News reports:
Federal Reserve Chairman: Migration will cause mortgage rates to rise
President Joe Biden's immigration crisis has led to increased mortgage rates that are burdensome for young couples and families, according to the head of the Federal Reserve Bank of Minneapolis.
“The long-term impact of increased immigration on inflation is unclear, but immigrants nonetheless need places to live,” Minneapolis Federal Reserve Bank President Neel Kashkari said. “It is likely that demand for housing has increased as immigrants have arrived in the United States.” said. , said on May 7.
As a result, he said, as interest rates rise, mortgage rates rise. [interest] “Interest rates in the housing market are higher than they were before the pandemic.”
Kashkari is a member of the Federal Reserve and is currently raising interest rates to reduce unpopular inflation caused by the federal government's deficit spending.
But starting in 2021, Biden's agents have exacerbated inflation by importing about 10 million legal, illegal, and quasi-legal immigrants.
And of course Joe Biden is responding by doing just about everything wrong.
Inflation, gas prices, and mortgage rates are rising, unemployment is at a two-year high, and hard-working Americans are struggling to make ends meet.
Joe Biden's reaction?
Force them to pay for medical bills for illegal immigrants and student loans for art students. pic.twitter.com/4TkcPISyu0
— Caroline Leavitt (@kleavittnh) May 3, 2024
Mortgage rates have soared under Joe Biden, and 78% of would-be homebuyers say financial factors are preventing them from doing so.
Joe Biden's economy has made the American dream an illusion! pic.twitter.com/HWPLt73SR4
— American Renew Center (@amrenewctr) May 6, 2024
Ever wonder why more and more Americans want to return to the Trump era?