DeSantis slams federal spending habits as interest rates increase

By Michael Costeines

Published Jul. 27, 2023, 10:31 a.m. ET | Updated Jul. 27, 2023

Gov. Ron DeSantis announces "Framework for Freedom" budget, Fort Pierce, Fla., June 15, 2023. (Video/Gov. Ron DeSantis' office)

WASHINGTON, D.C. (FLV) – Gov. Ron DeSantis responded to the latest Federal Reserve approval of increasing interest rates.

“With the latest hike, Americans are now facing the highest interest rates in over 20 years,” DeSantis said.

“The pain Americans are feeling is a direct result of the federal government borrowing and spending trillions of dollars since March 2020,” he continued.

“Politicians stroke checks they will never have to pay while buying a home or a car has become out-of-reach for many Americans.”

The new rate is reportedly the highest in more than 22 years.

The hike by the Federal Open Market Committee ups the new rate by a quarter percentage point to a 5.25% to 5.5% range. It was met by unanimous support by the committee.

Moreover, it marks the 11th time the FOMC has spiked rates since March 2022.

Americans might not be seeing any relief soon, according to Federal Reserve Chairman Jerome Powell.

“I would say it’s certainly possible that we will raise funds again at the September meeting if the data warranted,” said Powell. “And I would also say it’s possible that we would choose to hold steady and we’re going to be making careful assessments, as I said, meeting by meeting.”