Press Releases

Luetkemeyer & Williams Host Small Business Roundtable on Interest Rates Impacting Main Street USA

WASHINGTON, D.C. – Today, Ranking Member Blaine Luetkemeyer (R-MO) and Vice Ranking Member Roger Williams (R-TX) hosted a small business roundtable to discuss how rising interest rates are impacting America’s small businesses.

“Just last week we saw inflation soar to a nearly 41-year high. Inflation remains a top problem for Main Street USA. Biden’s inflation crisis impacts every aspect of a small business’ daily operations. For too long now, small businesses have been on the receiving end of increased wholesale prices, forcing themselves to raise their prices and adjust their staffing levels just to keep their doors open,” said Ranking Member Luetkemeyer.

“The Federal Reserve has been forced to aggressively raise interest rates to get inflation under control,” said Vice Ranking Member Williams. “As a small business owner of over 50 years, I understand these actions have dire impacts on Main Street America. Today, I was glad to host community bankers to share their firsthand accounts on how these interest rate hikes will slow economic growth, increase the cost of credit, and make it harder for small businesses to expand operations. I thank the participants for joining today and look forward to continuing our work to better serve our Nation’s job creators.”

Panelists:

  • Ken Hale, President and CEO of BOM Bank
  • Christy Bussey, Director of Growth and Solutions for the Independent Bankers Association of Texas
  • Steve Scurlock, Director of Government Relations for the Independent Bankers Association of Texas and former Deputy Banking Commissioner of Texas

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