WASHINGTON, D.C. – Today, Senator Rick Scott released a weekly update on his actions to address America’s debt crisis and rising inflation by sharing his statement slamming the Federal Reserve for losing over $1 TRILLION taxpayer dollars in the last year under the management of Chair Jay Powell.

Senator Rick Scott said, “Jay Powell is a TRILLION DOLLAR LOSER. He might be the first trillion dollar loser in American history. Under his watch, the Fed has managed to lose more than $1.2 TRILLION of taxpayers’ hard-earned money in the last year. It’s gross incompetence and when its paired with the wildly reckless spending of the Biden administration, it’s no wonder why we have massive inflation and debt. I am hearing from families all over Florida that are struggling to make ends meet, unsure how they are going to cover bills and save for retirement due to the burden of Biden’s inflation crisis. So when I hear of leaders in this country like Jay Powell, who are supposed to be good stewards of the American public be completely reckless, it makes me furious. The Fed does not have an independent Inspector General, it employs about 23,000 people and is losing nearly $3.4 BILLION EVERY DAY. Enough is enough. We must have real accountability NOW. Would you bank with the Fed?”

Since being elected to the U.S. Senate, Senator Scott has repeatedly urged action to address America’s debt crisis and the harmful effects of inflation. Click HERE for a comprehensive list of his statements and actions on this urgent issue. 

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