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From Breitbart: Federal Reserve Chairman Jerome Powell says the nation’s unemployment rate is being raised by Homeland Security chief Alejandro Mayorkas’s huge inflow of migrants.
The statement acknowledges the extraordinary political power accumulated by the Cuban-born Secretary of Homeland Security.
Mayorkas’s ability to raise and lower the migration rate makes him the nation’s de facto “Labor Czar” and gives him extraordinary influence over Americans’ employment rates, wages and housing, and even their interest rates.
Mayorkas insists he has the legal power to set blue-collar and white-collar immigration rates as he sees fit, regardless of migration numbers set by Congress in 1990, or the wishes of ordinary Americans.
Powell was asked by a reporter on Wednesday about his decision to lower interest rates, and whether “further labor market cooling will have to come through job losses?”
“On the job creation, it depends on the inflows, right? So if you’re having millions of [migrant] people come into the labor force, and you’re creating [only] 100,000 jobs [per month], you’re going to see unemployment go up. So it really depends on what’s the trend underlying the volatility of people coming into the country,” Powell replied.
“We understand there’s been quite an influx across the borders, and that has actually been one of the things that’s allowed the unemployment rate to rise,” he added.
WATCH BELOW:
Fed Chair Jerome Powell on the border crisis: “If you’re having millions of people come into the labor force then — and you’re creating 100,000 jobs, you going to see unemployment going up. It depends on the trend underlying the volatility of the people coming into the country.… pic.twitter.com/WjtwFBvhhg
— Curtis Houck (@CurtisHouck) September 18, 2024
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