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Rep. Williams Statement on Fed Rate Hike

December 14, 2016

FORT HOOD – Congressman Roger Williams (R-Austin), a member of the House Financial Services Committee, today released the following statement after the Federal Reserve announced it would raise the interest rate, making it the second rate hike since 2006.

"While rate hikes have historically been an important tool to offset inflation, today's decision by the Fed to raise the interest rate is entirely premature and will be burdensome to a nation already struggling to pull itself out of this slow-growth Obama economy," said Williams. "Even at the current rates, we are paying an exorbitant amount of money to pay down interest on the national debt when that money could be spent paying down our actual debt or on our veterans and military. Young adults are struggling to pay back loans and homeownership is still out of reach for many. By making rates even higher, the Fed is effectively making our hardships even harder."

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