May 15,2001

Grassley Comment on the Interest Rate Cut

Sen. Chuck Grassley, chairman of the Committee on Finance, today made the followingcomment on the Federal Reserve’s latest interest rate cut.

“I’m glad to see aggressive action from the Fed to keep our economy afloat. As I’ve saidbefore, it’s a lot easier to prevent a drowning than it is to rescue the drowned. And lowerinterest rates can do more in the way of an immediate economic stimulus than anything Congresscan do. The Fed’s sensitivity to our economic slowdown is right on.”