Lower interest rates

We, the undersigned, are deeply concerned about the rapid pace of interest rate hikes that the Federal Reserve has enacted over the past months. The aggressive raising of rates risks doing more harm than good to the economy and everyday Americans.

Home ownership has become unaffordable for many, with mortgage rates skyrocketing over the past year. This not only prices people out of home buying, but makes monthly payments unmanageable for current homeowners. Housing is a basic need, and high interest rates threaten this for many hardworking families.

Small businesses are also suffering under higher borrowing costs. From restaurants to retail stores, many operate on thin margins and struggle when rates rise. New business formation may decline if loans and credit lines become too expensive. This could stall job creation and economic growth.

For those carrying student, auto, and credit card debt, interest rate hikes make monthly payments more burdensome. Americans were already struggling with record levels of debt before rates started climbing. Now many face financial hardship and could be forced to default on loans.

It is time to lower interest rate for the good of the American people.