Public Papers of George Bush, 1991

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Author: George Bush  | Date: December 20, 1991

Statement on the Federal Reserve Interest Rate Reduction
December 20, 1991

Today’s lowering of the Federal Reserve discount rate from 4.5 percent to 3.5 percent is a significant step. It is clear that the economy in the last quarter has been fiat and sluggish. Too many people are out of work. Lower interest rates are important to spurring economic growth and creating jobs and investments.

We have pointed out on several occasions in recent months the important role of interest rate reductions in creating new jobs. The discount rate cut will help when it is passed on to consumers and businesses. These rates are the lowest in more than 25 years. But inflation is low and under control. I commend this latest Federal Reserve Board action which will significantly help our efforts to turn the economy around and get America back to work.

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Chicago: George Bush, "Statement on the Federal Reserve Interest Rate Reduction," Public Papers of George Bush, 1991 in Federal Register Division. National Archives and Records Service, Public Papers of the Presidents of the United States, George Bush, 1989 (Washington, D.C.: Government Printing Office, 1956-), Pp.1670-1671 Original Sources, accessed September 21, 2019, http://www.originalsources.com/Document.aspx?DocID=15ZMYJFKXMTP4YV.

MLA: Bush, George. "Statement on the Federal Reserve Interest Rate Reduction." Public Papers of George Bush, 1991, in Federal Register Division. National Archives and Records Service, Public Papers of the Presidents of the United States, George Bush, 1989 (Washington, D.C.: Government Printing Office, 1956-), Pp.1670-1671, Original Sources. 21 Sep. 2019. www.originalsources.com/Document.aspx?DocID=15ZMYJFKXMTP4YV.

Harvard: Bush, G, 'Statement on the Federal Reserve Interest Rate Reduction' in Public Papers of George Bush, 1991. cited in , Federal Register Division. National Archives and Records Service, Public Papers of the Presidents of the United States, George Bush, 1989 (Washington, D.C.: Government Printing Office, 1956-), Pp.1670-1671. Original Sources, retrieved 21 September 2019, from http://www.originalsources.com/Document.aspx?DocID=15ZMYJFKXMTP4YV.