Rep. Andy Barr (R-KY) told Breitbart News about how enacting President Donald Trump’s economic agenda will work to “whip inflation” by cutting taxes, slashing spending with DOGE, and unleashing energy dominance.
The Department of Labor revealed on Wednesday that inflation had surged higher, with consumer prices up three percent in January and inflation proving a more persistent phenomena.
Barr, the chairman of the Financial Institutions Subcommittee on the House Financial Services Committee, said that the historic landslide election of President Donald Trump sent a clear signal that “Americans are tired of inflation” and that they “want the affordability crisis to end.”
“With President Trump, we’re going to unleash American energy dominance, we’re going to cut spending, and those are two very disinflationary policies that we’re going to be focusing on to supply this economy with more energy,” he explained.
The Kentucky conservative said that he just had Federal Reserve Chairman Jerome Powell in front of his committee Wednesday morning, saying that inflation is still “stuck” above the Fed’s two percent inflation target. He continued:
One way to solve that problem is to enact President Trump’s economic policies, his economic agenda, unleash energy dominance, and, yes, also reduce the deficit, cut taxes to expand economic growth so that the overall economy grows and the debt shrinks as a share of the overall economy, but also cut wasteful spending support DOGE support spending reforms to start reducing the deficit.
Barr said:
And when we do that, we send a virtuous signal to the bond market, so that that ten-year, the long end of the yield curve, starts to come down, meaning that mortgage interest rates come down, that and credit card debt and everything else, the interest rates come down that makes life more affordable for middle-income Americans, working Americans who elected Donald Trump.”
Treasury Secretary Scott Bessent recently said that Trump is focused on lowering the 10-year Treasury yield, which influences borrowing costs such as mortgage rates and the rates for automobile loans.
Barr noted that if Congress were to truly start cutting spending, then the Federal Reserve would cut rates, which would reduce the cost of servicing America’s debt.
He said, “So that’s our goal, is to whip inflation with this economic agenda, and I’m confident that we can do that with Republicans in Congress and President Trump.”
Sean Moran is a policy reporter for Breitbart News. Follow him on X @SeanMoran3.
