WASHINGTON –Today, Senator Bernie Moreno (R-Ohio) introduced a bill calling on Federal Reserve Chairman Jerome Powell to cut interest rates and help working-class Americans. Moreno’s bill comes after Powell again refused to cut interest rates, leading two FOMC members to dissent from a rate decision for the first time since 1993, and is his latest effort against the Federal Reserve Chairman.
In a July letter, Senator Moreno demanded the resignation of Powell, after weeks of questioning him on his refusal to lower interest rates. In June, Senator Moreno hammered Powell on his repeated public attacks on President Donald Trump’s trade agenda and refusal to lower rates despite persistently low inflation.
Read the full bill HERE.