WASHINGTON, D.C. – Today, Senator Rick Scott released the below statement following the Federal Reserve’s announcement on its massive $9 trillion balance sheet and Chair Jay Powell’s failure to properly manage the Fed.

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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