Governor Brian Kemp of Georgia announced an emergency status for the state due to escalating inflation rates.
Kemp expressed his concerns in a statement, highlighting the impact of federal financial decisions and certain policies on domestic energy. He emphasized that these decisions have been financially draining for the middle class.
Addressing the ongoing economic strain on families, Kemp said, “The current high costs are straining household finances. Georgians who are working hard deserve genuine assistance. Therefore, I have put forth an executive order to provide immediate relief at the fuel stations.” He further mentioned that he will collaborate with the General Assembly to ensure continued support for Georgians amidst the challenges introduced by the current president and Congress.
As a result of this declaration, the state will halt the collection of gas and diesel taxes temporarily. It’s noteworthy that this is the second time Kemp has made such a move in the past two years.
In a contrasting perspective, Treasury Secretary Janet Yellen shared her optimism about the nation’s economic future in a conversation with Bloomberg. She believes that, despite the slowing growth, the U.S. will sidestep a recession due to the strength of its labor market. Yellen stated, “Though we see a deceleration in growth, the job sector remains robust. I don’t foresee a downturn.”