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Led by Federal Reserve Chairman Jay Powell, the central bank of the United States, has repeatedly failed to promote a strong American economy with stable prices and maximum employment that offers financial opportunities for American families. These failures, for which Chairman Powell has not been accountable, have caused catastrophic damage to the resources of millions of American families and companies and demand an immediate change in leadership.
Collaborate with former President BidenChairman Powell has led a Federal Reserve that has not succeeded in acting independently in the best interest of the American people and, instead, has chosen the policy to appease elites of Washington, Wall Street and left -wing international organizations. His failed policy has destroyed hardworking families and pensioners with covering inflation, which he stood on for months, was simply “transient”, fed by the reckless expenditure of the Biden administration that added more than $ 8 trillion to the national debt in four years .
Powell’s inability to keep prices stable forced massive peaks in it interest Rates, and did nothing to solve a job market that bleeds full -time jobs and forces millions of Americans to work on several part -time jobs, just to make ends meet. The Federal Reserve of Powell has incorrectly managed the monetary policy of American monetary and has grown its balance into a non -durable $ 6.8 trillion.
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The Federal Reserve has also supervised massive bank failure on Powell’s watch, such as the collapse of 2023 from Silicon Valley Bank (SVB), with zero accountability. Although he is responsible for the supervision of SVB, nobody in the Federal Reserve was ever fired before. Take a look at the findings of VICE chairman for supervision Michael Barr’s 2023 report that showed how bad the FED was managed under his leadership! Fortunately, vice chairman Barr will resign early from his supervisory role, which is desperately needed for new leadership. As a senator of the United States, I look forward to supporting a candidate who has a real vision of the Federal Reserve And will meaningly improve the responsibility and transparency of his actions.
This is why all this matters. While Chair Powell and his leadership team may not feel the daily consequences of their failures, families such as mine that grew up, are forced to struggle every day with their consequences. I grew up in social housing and my mother took strange jobs to make ends meet and put food on the table. We didn’t have much, but my mother always told us that if we worked hard, we could live the American dream. Although that was true then, and I had the chance to live my American dream, his parents rightly hesitantly hesitating to make the same promise to their children.
I talk to Floridians who cannot afford a mortgage due to high interest rates. They work 40+ hours a week, but still trust food banks for dinner, and they do not understand why their federal government has stimulated policy in the last four years that makes it worse for them. That is unacceptable and I know that I am not the only one here in Washington who hears these heartbreaking stories. Now it is the task of those who have the power to reverse these failures.
I believe that, with Republicans who are responsible for congress and President Trump in the White House, we are at the start of a new day for the American greatness that will herald the Golden Age of America. At the top of our list to make America great again and to let Washington work for American families, there must be daring action that forces the Federal Reserve to correct and help American families. But that will only happen with new leadership aimed at restoring trust and accountability at the FED. It is time to clean the house of everyone who works in the Federal Reserve who is not on board with helping the American people and fighting for their best interests.
After four terrible years of Joe Biden’s economic policy, supported by a coarse wrongly managed Federal Reserve, Americans need change. With new, strong leadership at the Federal Reserve and President Trump back in the White House, we can return America to a path of tax common sense for future generations.
