Governor Dan McKee is warning of "pain that is coming" unless the Federal Reserve quickly reverses course and lowers interest rates.
The Governor has penned a letter to the Fed Chairman Jerome Powell explaining that people are being hit hard by rising interest rates that are increasing their costs to live and lowering the price of their homes.
He is calling on other governors in the region to join him in the quest.
The Governor is asking "what are we fighting for and what is the damage that is being caused" because of the rate increases.
The Governor meantime says despite the increase in interest rates and other financial concerns he expects everyone to abide by their committments so that the Pawtucket Stadium project can move forward.
A project that has seen a new concern is in Warwick where they need to build two new high schools and have 350 million dollars in bonded monies already approved.
The problem is that money won't go as far as everyone thought it would because of rising prices.
(Photo by Alex Wong/Getty Images)
Photo: Getty Images