Chairman Arrington on Fed Decision to Hike Interest Rates

Statement

"Unbridled Democrat spending not only raised our national debt by a record $6T, but it created a cost-of-living crisis for working families. Since President Biden took office, prices for consumers are up 15.7 percent.

As a result of Democrat-caused high inflation that has yet to subside, today the Federal Reserve raised interest rates another quarter of a point. This increase will raise borrowing costs for mortgages, credit cards, and business investments, slowing economic activity.

The Democrats' spending spree, when coupled with Biden's failed economic policies -- attacking American energy producers, paying people not to work, and taxing and regulating our job creators --have only made the economy worse for all Americans.

We must reverse the curse of our out-of-control debt before it's too late!!"

Source