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GOP senator slams Fed Chair Jerome Powell: He's 'done a pathetic job'

Scott argued that the bank failures that have taken place this year are a reflection of Powell's leadership

May 3, 2023 10:45pm

Updated: May 3, 2023 10:45pm

Florida Republican Sen. Rick Scott slammed the job performance of Federal Reserve Chairman Jay Powell during a news conference about the debt limit.

Scott joined other Senate Republicans to show support for the debt limit bill that passed in the GOP-led House.

"I think Jay Powell has done a pathetic job," Scott said on Wednesday. "I don't understand the balance sheet. He sat there and said inflation was going to be transitory. It's not. Poor families are getting hurt because of his foolishness. We've got banks that have gone under, and what was he doing when Silicon Bank went under?...I think that what he's doing is hurting the economy. He's been hurting the economy."

Scott argued that the bank failures that have taken place this year are a reflection of Powell's leadership.

"Look at what's happening to our banks now. We have less money in our banks, which means, if you're a business guy like I am, it's going to get harder to get a loan. That's all caused by one person: Jay Powell," he said.

The Fed raised interest rates again on Wednesday. 

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