Rep. Loudermilk’s Weekly Newsletter

Representative Barry Loudermilk (R-GA-11) this week reminded Federal Reserve Chair Jerome Powell about Loudermilk’s warnings from one year ago about inflation — a prediction that proved correct.

Loudermilk discussed the matter at a U.S. House Committee on Financial Services hearing.

“Our dollar has decreased in value due to inflation. A year ago, when you testified before this committee, I asked what your outlook was for the economy. You said you expected economic growth to be strong for the rest of 2021, but at that time I warned that the $2 trillion stimulus bill that was making its way through Congress at that time was unnecessary and far too big given the economy was already recovering. Lo and behold, these predictions came true,” Loudermilk said. 

Read More ▸

Inflation hit a fresh 40-year high in February, largely driven by higher gas prices.

The consumer price index climbed 7.9% on an annual basis, according to data released on Thursday by the Bureau of Labor Statistics. Month over month, inflation rose 0.8%.

The year-over-year reading is in line with estimates and compares with an annual 7.5% jump in January, marking the fastest increase since February 1982, when inflation hit 7.6%.

Read More ▸