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

November 3, 2023

WASHINGTON, D.C. – Today, Senator Rick Scott released a weekly update on his actions to address America’s debt crisis and rising inflation. Earlier this week, ahead of the Federal Open Market Committee meeting, Senator Scott sent a letter to Chair of the Federal Reserve Jerome Powell urging accountability regarding his failure to meet his target of reducing the Fed’s balance sheet. Earlier this year, Senator Scott sent a similar letter to Chair Powell, but has not yet received a response. Senator Scott has been adamant about holding the Fed accountable to their goals of reducing the balance sheet since his election to the Senate. Unfortunately, inflation continues to skyrocket and meanwhile, the Fed has made nearly zero progress. Read more in Reuters HERE and the full letter HERE.


Earlier this Congress, Senator Scott introduced three new bills to reform the Federal Reserve and increase accountability to Congress and the American people. Senator Scott’s bills build on his bipartisan legislation with Senator Elizabeth Warren filed earlier this year, which would make the Fed’s Inspector General a truly independent auditor following findings of possible conflicts of interest.


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 and HERE for Senator Scott’s Quarterly Economic Snapshot.


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