WASHINGTON, D.C. – Ways and Means Committee Chairman Jason Smith (MO-08) released the following statement after the Federal Open Market Committee announced interest rates will remain unchanged: 

“There is a reason the economy has repeatedly beat the so-called experts’ economic growth projections. The pro-growth tax cuts in the Working Families Tax Cuts are fueling an investment boom that is making it easier to build and hire in America. Economic growth was fueled by investments and exports last quarter, equipment investment rose 17 percent, and factory activity is at its highest level in four years. Republican policies are boosting the economy and now homeowners, workers, small businesses, farmers, and manufacturers need interest rates that move with them, not against them.

“I am pleased Chairman Kevin Warsh is showing restraint and not engaging in reactionary policy due to temporary, energy-specific price increases that should come down as President Trump works to restores stability in the Middle East.”