U.S. Representative María Elvira Salazar, a Cuban-American legislator, addressed Federal Reserve Chair Jerome Powell during a Financial Services Committee hearing. She highlighted concerns over the economic impact of recent immigration enforcement actions that have led to a significant loss of workers in key industries such as construction, hospitality, and agriculture. Salazar emphasized that these sectors are already feeling the effects of reduced labor availability, which could hinder their operations.
In a video of the exchange, Salazar expressed support for deporting undocumented immigrants with criminal records but questioned the broader economic consequences of losing thousands of essential workers. Powell responded cautiously, stating that while immigration policy is outside the Federal Reserve’s purview, current measures have indeed slowed labor force growth, contributing to an economic slowdown.
The repercussions are evident in areas like South Florida, where Hispanic communities play a vital role in the economy. In places such as Homestead, known for its agricultural output, businesses are experiencing a downturn due to increased immigration enforcement. Many immigrants are choosing to stay home, leading to operational losses for companies reliant on their labor. Immigrants make up a significant portion of the workforce in industries like agriculture, construction, and healthcare, contributing billions in annual taxes. Their absence could reduce GDP by up to 4.2%, according to business coalition estimates.
This situation creates a vicious cycle: as workers disappear, businesses scale back or close, demand contracts, and investment stagnates. Despite this, the White House continues to advocate for stringent immigration policies, labeling all undocumented immigrants as “criminals.”
— News Original —
María Elvira Salazar advierte que medidas migratorias afectan la economía de EE.UU: Esto le contestó Jerome Powell
La congresista cubanoamericana, María Elvira Salazar, preguntó este martes al presidente de la Reserva Federal, Jerome Powell, cuánto está afectando a la economía de EE.UU. la pérdida masiva de miles de trabajadores como consecuencia de las redadas migratorias. “Estamos perdiendo a miles de trabajadores en la construcción, la hostelería y la agricultura debido a las recientes medidas migratorias. Ya se siente el golpe en nuestra economía, y estas industrias no pueden funcionar sin ellos”, escribió la congresista en X junto al video de su intervención. “Hoy le planteé esta preocupación al presidente de la Reserva Federal, Jerome Powell, durante la audiencia del Comité de Servicios Financieros. Estuvo de acuerdo: el crecimiento económico se está desacelerando, y esa es una de las razones”, añadió.
— news from CiberCuba