Central Bank concerns continue.
In case it wasn’t clear that Rick Scott has strong thoughts about the future of the Federal Reserve, he spent part of Friday messaging on the need for an “immediate change in leadership.”
In a letter to President Donald Trump, the Naples Republican advised he appoint the “opposite” of Jerome Powell as the Fed “prepares to hang a ‘Help Wanted’ sign outside its newly renovated HQ.”
“We need a Fed chair who will foster an economy that can fuel the American Dream. Powell’s mismanagement created a cost-of-living crisis that left millions struggling to make ends meet. The monthly payment of the average-priced house doubled under his tenure with skyrocketing interest rates, pushing the American Dream of homeownership further out of reach for millions of Americans. Under his watch, inflation skyrocketed to over 20%, causing the cost of essentials like food and gas to soar. We need someone who will focus on price stability for American families.”
Scott also talked Friday on the Senate floor urging passage of his bill, sponsored with Democratic Sen. Elizabeth Warren of Massachusetts, to create a Senate-appointed Inspector General for the Fed.
“This Inspector General would finally be independent of the Fed board, who are the very people they are tasked with investigating in order to bring accountability to the Fed on behalf of the American people. This must happen now,” Scott argued.
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