DeSantis team wants Powell to leave.

Gov. DeSantis’s Rapid Response Team Slams Federal Reserve Chairman Jerome Powell

Are you feeling the pinch of a struggling economy? Well, according to Gov. Ron DeSantis’s (R-FL) rapid response team, Federal Reserve Chairman Jerome Powell is to blame. In fact, they’re calling him President Joe Biden’s “recession sidekick” and telling him to “take a hike.”

The Video That Ties Powell to the Current Economy

The team’s video comes hot on the heels of the Federal Reserve’s announcement that interest rates will be raised by 0.25%, marking the 10th time rates have been hiked since March 2022.

“Biden’s got a recession sidekick: a guy by the name of Jerome Powell. Biden loves Jerome,” the narrator in the video says. The video then shows Biden in 2022 announcing he would renominate Powell for a second term as chairman of the central bank, followed by a different clip of Biden saying, “Respect the Fed.”

“And Jerome loves hiking those interest rates,” the narration continues. “And that means you lose money.”

The video then shows news anchors discussing how financial markets negatively reacted to an interest rate hike by the Federal Reserve, followed by DeSantis speaking about the Federal Reserve.

“You know, I think the Fed has done a horrible job over these last few years and they really are creating potential significant turmoil in the economy,” DeSantis said.

“Get the economy back on track, tell Powell to take a hike,” the narration concludes.

DeSantis’s Presidential Bid

DeSantis is widely expected to announce a presidential bid in the coming months, and his team appears to be setting its sights on the likely Democratic nominee, Joe Biden. The video ties Powell to Biden, but Powell was first nominated to be Federal Reserve chairman by then-President Donald Trump in 2017. He was renominated by Biden in 2022.

DeSantis has shied away from taking on Trump directly as his shadow campaign for the White House ramps up. This most recent attack continued the pattern, placing blame squarely in Biden’s hands, leaving viewers to connect the dots between Powell and the former president, who poses the greatest challenge to DeSantis walking to the front of a crowded GOP primary field in 2024.

The Future of the Federal Reserve

The winner of the 2024 presidential election will have the opportunity to nominate the Federal Reserve chairman in 2026 when Powell’s term expires. The interest rate hike announcement by the Federal Reserve on Wednesday from 5% to 5.25% comes as the threat of a recession increases.

Don’t let Powell and Biden’s “recession sidekick” derail your financial future. Stay informed and make smart decisions for your money.