Washington, Sept. 16 -- Rep. Lloyd Smucker issued the following press release:
Rep. Lloyd Smucker (PA-11), Vice Chair of the House Budget Committee, released the following statement after the Federal Reserve announced its decision to raise interest rates by one quarter point:
"Chairman Warsh recently noted the strength and resilience of the American economy while acknowledging that inflation remains too high. I appreciate the Federal Reserve's continued focus on restoring price stability while supporting a strong economy.
"But today's decision also underscores a challenge monetary policy cannot solve on its own: our nation's unsustainable fiscal trajectory. At more than $40 trillion, our national debt puts upward pressure on interest rat...