Press Releases
Womack Statement on Interest Rates, Economic Outlook
Washington,
July 27, 2022
Washington, DC—July 27, 2022....Congressman Steve Womack (AR-3), a senior member of the House Appropriations Committee—where he serves as the Ranking Member of the Financial Services and General Government (FSGG) Subcommittee and also sits on the Defense and Transportation, Housing and Urban Development (THUD) Subcommittees—released the following statement on the combination of a 75-basis-point increase in interest rates, soaring inflation, and growing national debt that threatens the American economy and family budgets across the nation: “Recession alarm bells are ringing. Inflation is crushing families as consumer confidence continues to crater. Today’s major interest rate hikes have been necessitated by out-of-control Democrat spending. It’s a stark reality when there is no choice other than decisions that will add to our unsustainable debt and make life harder for families. A steep price is being paid by Americans under President Biden’s direction. Politicians must get serious about making the tough choices to change our nation’s worsening fiscal trajectory.” Congressman Steve Womack (AR-3) has represented Arkansas’s Third Congressional District since 2011. He is a member of the House Appropriations Committee. ### |