Rep. Andy Barr (R-KY) told Breitbart News that enacting President Donald Trump’s economic policies will combat inflation by cutting taxes, reducing spending through the Department of Government Efficiency (DOGE), and restoring American energy dominance.
The Department of Labor reported on Wednesday that inflation surged again, with consumer prices rising three percent in January, highlighting the persistent challenge of inflation.
Barr, chairman of the Financial Institutions Subcommittee on the House Financial Services Committee, emphasized that Trump’s historic landslide victory signaled that “Americans are tired of inflation” and demand an end to the affordability crisis.
“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,” Barr explained.
Barr, who questioned Federal Reserve Chairman Jerome Powell during a hearing on Wednesday, noted that inflation remains “stuck” above the Fed’s two percent target. He argued that enacting Trump’s economic policies will reverse this trend:
“One way to solve that problem is to enact President Trump’s economic agenda: unleash energy dominance, reduce the deficit, and cut taxes to expand economic growth. This will allow the economy to grow while shrinking the debt as a share of overall GDP. Additionally, supporting DOGE spending reforms will help reduce the deficit.”
Barr explained that reducing wasteful government spending would send a strong signal to the bond market, leading to lower long-term interest rates.
“And when we do that, we send a virtuous signal to the bond market so that the ten-year Treasury yield starts to come down. That means mortgage interest rates, credit card debt, and borrowing costs decrease, making life more affordable for middle-income Americans who elected Donald Trump,” he said.
Treasury Secretary Scott Bessent recently reaffirmed Trump’s commitment to lowering the 10-year Treasury yield, which directly influences mortgage and auto loan rates.
Barr concluded that genuine spending cuts by Congress would enable the Federal Reserve to lower interest rates, reducing the cost of servicing America’s debt.
“So that’s our goal: to whip inflation with this economic agenda, and I’m confident that we can do that with Republicans in Congress and President Trump,” Barr affirmed.
