Sen. Rick Scott Issues Weekly Update on Biden's Inflation Crisis

Statement

Date: May 6, 2022
Location: Washington, DC

Today, Senator Rick Scott released a weekly update on his actions to address America's debt crisis and rising inflation. Since being elected to the U.S. Senate, Senator Scott has urged government accountability to the American taxpayer. Following this week's Federal Reserve's announcement on its massive $9 trillion balance sheet and Chair Jay Powell's failure to properly manage the Fed, Senator Scott released the following statement:

Senator Rick Scott said, "Once again the Federal Reserve is failing the American people. As inflation continues to skyrocket, GDP declines, and families' budgets shrink, the Fed seems happy to sit back and do nothing to fix the financial nightmare hardworking families are living through. The Fed's balance sheet is unprecedentedly high--$9 TRILLION--and Jay Powell's plan to "address it' is woefully inadequate. Under the plan announced today, scaling back the balance sheet will take almost a decade. Inflation is happening TODAY. The Fed needs to address this crisis TODAY. Its continued delay tactics are hurting families and puts our country's future at risk. Families cannot afford the Fed's failures anymore."


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