Treasury Sends Interest Rates Soaring



  • THE REPUBLICAN REPORT

    December 28, 2006

    Treasury Pushes Interest Rates Up 3.35%
    Los Angeles, D.T.

    user posted image

    Treasury Secretary Anthony Herrera waved to cameras today as he left the Department of Treasury during its weekly meeting which raised interest rates by 3.35% today. The new rate now at 4.35% has consumers scrambling to obtain a loan before the rate takes effect January 1st, and banks worry of a possible backlash of consumer spending and borrowing cuts.

    "I did what I had to do and thats final", was all that Secretary Herrera had to say to us as he walked out of the meeting after highlighting deep concerns of the nations inflation rate which reached a record of 9.1% this year. Treasury Secretary Anthony Herrera kept his promise in a recent press conference where he proclaimed he saw "no other choice other than tightening the currency and raising interest rates".

    Financial Indexes crashed today with the UUSE shaving 1.8% falling to 4,357.22

    Not everyone within the administration is satisfied by the decision of the Secretary, especially President Michael Dolton who said the interest hike will destroy the foundation of the Federation's economy.

    user posted image

    "When you pull a stunt like this it will destroy the foundation of this economy. I will not let the Secretary get away with something like this and allow the Federations economy to suffer. We had a prosperous year, and I recognize the inflation worries, but we cannot go jumping about like this and hiking rates like its a game." -President Michael Dolton

    President Dolton later threatened the job of the Secretary calling him "radical" and "socialist".

    "I hold the power to the Secretary's job and if he does not roll back this decision, then he won't be sitting in that seat. That's a fact."-President Michael Dolton

    Dolton, who is currently facing record low approval ratings of 31% along with his National Party has said that the inflation rate is not of concern to this country and should not concern the citizens citing that the inflation rate was a sign that progress was being made with rising wages. However, members of other political parties have shown grave concern over the matter along with many economists.


Log in to reply
 

Looks like your connection to NS European Union was lost, please wait while we try to reconnect.