The corrupt Biden-Harris regime isn’t as guiltless as they wanted us to believe. Both politicians know well the tactics behind the opening of borders to millions of immigrants with no clear plans or programs except to occupy American communities and burden states with no federal resources to aid them. This move led to persisting crises in our country, with the Federal Reserve revealing that the unemployment rate surge is brought by crooked Joe and cackling Kamala’s immigration scheme.
Federal Reserve Chairman Jerome Powell did not mince his words when he pointed to the immense influx of migrants in the United States as the cause for the significant uptick in the unemployment rate, as permitted by crooked Joe and comrade Kamala and administered by Homeland Security Secretary Alejandro Mayorkas.
Video by Nicholas Pagnotta.
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Powell’s statement revealed not only the cause of the unemployment woes but also the power that Mayorkas wields in the labor market, ultimately making him the “Labor Czar” of the United States.
The Fed’s chair statement follows the institution’s decision to reduce interest rates for the first time since the wake of the COVID-19 pandemic.
Powell said, “If you’re having millions of people come into the labor force, then—and you’re creating 100,000 jobs—you’re going to see unemployment go up.”
“We understand there’s been quite an influx across the borders, and that has been one of the things that’s allowed the unemployment to rise,” he furthered.
Mayorkas even boasted that he could dictate blue-collar and white-collar immigration rates according to his whim, which gained criticism among many personalities.
“That is a phenomenal level of power to give to the federal government, period, regardless of whether it’s one guy or not. Even the President shouldn’t have that power,” Mark Krikorian, director of the Center for Immigration Studies, lamented.
Since 2021, the Biden-Harris regime has allowed the entry of more than 10 million migrants into the country, which they claim is essential for economic growth while millions of Americans remained hungry, unemployed, and poor.
“And the other thing is just the slower hiring rate, which is something we also watch carefully. So it does depend on what’s happening on the supply side,” the Fed chair remarked.
According to Powell, the unemployment rate has climbed from 3.7 percent at the start of 2024 to 4.2 percent by August. This was further worsened by the slow creation of jobs, with only 142,000 added last month.
