Rep. Scholten Responds to the Federal Reserve’s Interest Rate Cuts

WASHINGTON – For the first time in four years, the Federal Reserve announced interest rates will be cut by 0.05%. Congresswoman Hillary Scholten (MI-03) released the following statement:

“For the last four years, Americans have been balancing the financial stress of high inflation and interest rates. These high rates created an undue burden on our wallets and added further roadblocks to homeownership for young people. These cuts will help countless Americans regain financial footing, break out of debt, and not just get by but get ahead. 

“Our nation experienced an unprecedented pandemic that rocked our economy to its core, and we are finally healing. These rate cuts are another signal that we are headed in a more prosperous direction and that our neighbors who are still feeling the squeeze will feel relief in the days ahead.”

Rep. Scholten is a member of the House Committee on Small Business and has been named a Fiscal Hero for her commitment to reigning in spending, combating inflation, and passing bipartisan and sustainable tax and budget plans.