Stagnant Interest Rates Fuel Calls for Spending Reform

The Federal Reserve's decision to keep interest rates unchanged has reignited debate over federal spending and its impact on inflation, borrowing costs, and the nation's growing debt.

Brandon Arnold, executive vice president of the National Taxpayers Union, argues that Congress could ease inflationary pressure by reducing federal spending. He claims persistent deficit spending makes it more difficult for the Federal Reserve to lower interest rates.

'The Fed's job would be much easier if Congress would get a hold of spending,' Arnold said. 'Driving down spending is not a silver bullet, but it would solve so many of the problems that are facing the economy right now.'