The Minnesota Federal Reserve chairman says Joe Biden’s illegal immigration crisis is causing severe financial hardship for U.S. citizens in the form of rising mortgage 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 that simply isn’t true.
That’s why this particular issue has even drawn the ire of liberals in blue cities.
Breitbart News reported:
Fed Chairman: Immigration drives up mortgage rates
President Joe Biden’s immigration crisis has raised mortgage rates, burdening young couples and families, the president of the Minneapolis Federal Reserve Bank said.
“While the long-term impact of increased immigration on inflation is unclear, immigrants still need a place to live, and their arrival in the U.S. is likely to increase,” said Neel Kashkari, president of the Federal Reserve Bank of Minneapolis. Housing needs.
In turn, mortgage rates will rise as interest rates rise, “perhaps neutrally,” he said. [interest] Interest rates in the real estate market are higher than before the pandemic.
Kashkari is a member of the Federal Reserve, which is raising interest rates to reduce unwelcome inflation caused by federal government deficit spending.
But Biden’s deputies have also fueled inflation by importing some 10 million legal, illegal and quasi-legal immigrants since 2021.
Of course, Joe Biden’s response to this is to do almost everything wrong.
With inflation, gas prices and mortgage rates rising, unemployment just reaching its highest level in two years, hard-working Americans are struggling to get by.
Joe Biden’s response?
Forcing you to pay the medical bills of illegal immigrants and the student loans of art students. pic.twitter.com/4TkcPISyu0
— Carolyn Leavitt (@kleavittnh) May 3, 2024
Mortgage rates have soared under Joe Biden, and 78% of would-be homebuyers say financial factors are holding them back from purchasing a home.
Joe Biden’s economy turns the American Dream into a fantasy! pic.twitter.com/HWPLt73SR4
— Center for Renewing America (@amrenewctr) May 6, 2024
Is it any wonder why more and more Americans want a return to the Trump era?
