Taylorville, Ill (WAND) – Inflation has eased in recent months as gas prices come down. But rising interest rates and the cost of homes could send the inflation rate back up.
Congressman Rodney Davis discussed a series of topics this week with WAND News including how to control inflation. Davis suggests the federal government needs to slash government spending.
“At some point we’ve got to be realistic with the American people and stop all the government spending in Washington,” Davis said at his Taylorville home. “I’d like to see the Fed determine how best to slow down inflation and when that happens does that also mean they’re pricing people out of the housing market for example if interest rates go too high.”
The rate of inflation hit a 40 year high last summer at 9.1%. The inflation rate dropped to 7.1% in November.
