House Budget Committee Chairman Jodey Arrington issued a statement regarding the Federal Reserve's recent decision to lower interest rates. In his remarks, Arrington criticized previous economic policies under the Biden administration and compared them to Republican approaches.
"Let’s not forget, the Federal Reserve had to raise interest rates an alarming eleven times during the Biden presidency to extinguish the inflationary firestorm created by Democrats’ record deficit spending, increased taxes, and regulatory assault on American energy," said Arrington.
He continued by contrasting these policies with those implemented by Republicans and former President Trump. "In contrast to Democrats’ failed economic agenda, Republicans’ pro-growth, pro-energy, and pro-work policies—along with President Trump’s government-wide deregulation and record foreign investment—have resulted in significant economic growth, increased wages, and the third interest-rate cut by the Fed since Trump took office."
Arrington concluded his statement with an outlook for 2026. "As the President builds on our economic successes by securing more fair trade deals, and as working families receive record tax refunds in the new year, Americans can expect better opportunities and bigger paychecks in 2026 and beyond."
