Republican Leader on the House Ways and Means Committee Rep. Kevin Brady (R-TX) warned that President Biden’s economy has some major red flags that are damaging the economy for American families and small businesses on Fox Business’s “The Evening Edit.”
CLICK HERE to watch the full interview.
Responding to the Federal Reserve’s focus on issues outside the economy at a time when Americans are suffering with rising prices, Rep. Brady said:
“This is a big mistake for the Fed to go outside its mandates to focus on climate change, specifically trying to drive U.S. oil and gas industries out of America, especially at a time where inflation is raging, gas prices are driving up, damage is being done to families. It simply isn’t their business or their mandate.”
Rep. Brady emphasized that President Biden’s GDP report has some red flags as inflation rages and incomes fall:
“The last GDP report – where the headline number looked good, the bottom line is there’s some red flags. Big raging inflation, huge drop in real disposable income, that damages the economy. And if you take out inventories, growth was less than 2 percent last quarter.”
Asked about whether the Biden Administration will end pandemic shutdowns and help our economy recover back to normal, Rep. Brady said:
“The short answer is, of course they won’t. For them, this is a political bludgeon on the American people, they don’t understand just how damaging it is.
“Thankfully I come from Texas, we were one of the early states to open up. Our economy recovered much stronger than others. We saved jobs, and I’m convinced saved lives by opening up. It wasn’t easy, but we showed you could do it.”