Federal Reserve Interest Rate Hike Adds to Nevadans Economic Pain Under Joe Lombardo

NEVADA - "So I think we need to maybe feel a little pain in the short term and, hopefully in the long term, it's a huge benefit for us”, said Governor Joe Lombardo. Yesterday, the Federal Reserve raised its benchmark interest rate by a quarter-point, the first rate hike since 2023. The move lifts the Fed’s key rate to roughly 3.9% and could add upward pressure on Nevadans who are already facing  $7 per gallon diesel fuel prices, unaffordable housing, food insecurity, rising grocery bills and personal expenses. As fuel prices rise, they put further pressure on small businesses and consumers because higher fuel costs lead to higher consumer goods prices.

Under Joe Lombardo’s leadership, Nevadans are already contending with bad economic policy, short-sighted land stewardship and skyrocketing business operating costs. Nevada cannot survive another term under Joe Lombardo's mismanagement. 

Shelbie Swartz, Executive Director of Battle Born Progress, issued the following statement: 

“Trump’s tariffs and the war in Iran are making life more expensive, and Nevadans are the ones paying for it with higher prices, higher gas costs, higher mortgage payments, higher car payments, and higher credit card bills — all while Joe Lombardo defends Trump’s tariffs and tells Nevadans they may need to ‘feel a little pain.’ Nevada families were already choosing between gas and groceries, and now Trump’s policies are squeezing them even harder. This is exactly when Nevadans look to their governor for answers. Still, Lombardo has argued that tariffs, the Iran war, and other national economic pressures are largely outside a governor’s control. Nevada families are getting hit by higher prices and borrowing costs, and they’re still waiting to see what additional state-level relief will reach them.”

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