House Committee Chair Reacts to Report Showing 5% Inflation

House Small Business Committee Chairman Roger Williams expressed concerns over the latest CPI report, citing Main Street America’s concerns about inflation and rising interest rates.

Following the release of the latest Consumer Price Index (CPI) report, House Small Business Committee Chairman Roger Williams (R-TX) issued a statement expressing concerns over the 5 percent inflation rate, when the target is 2 percent. Chairman Williams highlighted Main Street America’s ongoing concerns about inflation, rising interest rates, and an increasingly uncertain credit environment.

In his statement, Chairman Williams emphasized his and his colleagues’ commitment to enacting pro-growth policies to support Main Street America and their opposition to President Biden’s proposals for trillions more in inflationary spending. Williams believes that the current 5 percent CPI data offers no cause for celebration, as businesses and individuals across the nation continue to feel the effects of higher inflation.

Here is his full statement:

“When the target inflation rate is 2 percent there is nothing to celebrate when the CPI data comes in higher at 5 percent. Main Street America is signaling inflation is still their top concern and with rising interest rates and an increasingly uncertain credit environment, they see no relief in sight. My colleagues and I remain committed to enacting pro-growth policies to support Main Street America and will be a bulwark against President Biden’s proposals to spend trillions more in inflationary spending.”

This article, "House Committee Chair Reacts to Report Showing 5% Inflation" was first published on Small Business Trends