Tip From the Archives
You are losing power and seeing more loft than desired. However, your arms are not coming in at a steep angle and the clubface is square at address.
There is a chance that you are dropping your forward hip during your downswing. Try seeing if angling your forward hip higher at setup helps create a more powerful path to the ball.
Place your club across your hips. Then adjust the end of the club that is pointing towards the target about ten degrees higher and align your hips so that your forward hip is now ten degrees higher as well. Take practice swings with your new hip alignment. This will to encourage you to swing from the inside and power the club through the ball.