Federal Reserve Official Admits Biden’s Illegal Immigration Crisis Is Driving Up Mortgage Rates for Americans | The Gateway expert

Joe Biden’s illegal immigration crisis is causing serious financial hardship for U.S. citizens in the form of higher mortgage interest rates, the chairman of the Minnesota Federal Reserve said.

Democrats and the media have spent three years trying to convince average Americans that the illegal immigration crisis is normal and not causing any harm, but that it simply isn’t true.

This is why this particular issue is causing anger even among liberals in blue cities.

Breitbart News reports:

Federal Reserve Chairman: Migration raises mortgage rates

President Joe Biden’s migration crisis is raising mortgage rates that burden young couples and families, the president of the Federal Reserve Bank of Minneapolis said.

“While the long-term effect of increased immigration on inflation is unclear, immigrants nevertheless need a place to live, and their arrival in the U.S. has also likely increased demand for housing,” said Neel Kashkari, president of the Federal Reserve Bank of Minneapolis. , said on May 7.

In turn, he said, mortgage rates are being pushed up with higher interest rates, saying, “Maybe a neutral rate [interest] Interest rates in the housing market are higher than before the pandemic.”

Kashkari is a member of the Federal Reserve, which is now raising interest rates to reduce unpopular inflation caused by the federal government’s budget deficits.

But since 2021, Biden’s deputies have also exacerbated inflation by importing about ten million legal, illegal and quasi-legal migrants.

And of course, Joe Biden responds by doing pretty much everything wrong.

Inflation, gasoline prices and mortgage rates are rising, unemployment just reached a two-year high and hardworking Americans are struggling to make ends meet.

Joe Biden’s answer?

Force YOU to pay for illegal aliens’ health care and art students’ student loans. pic.twitter.com/4TkcPISyu0

— Karoline Leavitt (@kleavittnh) May 3, 2024

Mortgage rates have soared under Joe Biden and 78% of potential homebuyers say financial factors are preventing them from purchasing a home.

Joe Biden’s economy has turned the American dream into a fantasy! pic.twitter.com/HWPLt73SR4

— Center for the Renewal of America (@amrenewctr) May 6, 2024

Is it any wonder why a growing number of Americans want to return to the Trump years?