A top Federal Reserve officer is now admitting that Joe Biden’s tidal wave of criminal illegals is causing mortgage rates to soar for regular Americans.
Biden and his leftist media continue to claim that illegals bring nothing but rainbows and sunshine to the U.S. and they are a great asset. But the truth is not Biden’s friend, as we all know.
Pre Breitbart News:
President Joe Biden’s migration crisis raises the mortgage rates that burden young couples and families, according to the president of the Federal Reserve Bank of Minneapolis.
“While the long-run effect of increased immigration on inflation is unclear, immigrants nonetheless need a place to live, and their arrival in the U.S. has likely also increased demand for housing,” said Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, said on May 7.
In turn, he said, mortgage rates are nudged upwards with higher interest rates, saying, “Perhaps a neutral [interest] rate for the housing market is higher than before the pandemic.”
Kashkari is a member of the Federal Reserve, which is now raising interest rates to reduce the unpopular inflation caused by the federal government’s deficit spending.
Once again we find that Joe Biden is ruining us all.
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