{"id":2012022,"date":"2023-08-25T13:18:01","date_gmt":"2023-08-25T17:18:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rick-scott-calls-on-jerome-powell-to-resign-over-gross-fed-mismanagement\/"},"modified":"2023-08-25T13:19:07","modified_gmt":"2023-08-25T17:19:07","slug":"rick-scott-calls-on-jerome-powell-to-resign-over-gross-fed-mismanagement","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rick-scott-calls-on-jerome-powell-to-resign-over-gross-fed-mismanagement\/","title":{"rendered":"Rick Scott demands Jerome Powell&#8217;s resignation due to Fed&#8217;s &#8216;gross&#8217; mismanagement."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Frick-scott-calls-on-jerome-powell-to-resign-over-gross-fed-mismanagement%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2012022&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Sen. \u2063Rick Scott Calls for\u2064 Federal\u200b Reserve Chairman Jerome Powell&#8217;s Resignation<\/h2>\n<p>Sen. Rick\u200c Scott (R-FL) \u2062has intensified his criticism of Federal Reserve Chairman Jerome Powell, demanding his resignation ahead of the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nato-says-ukraine-may-join-alliance-when-conditions-are-met-enraging-zelensky\/\" title=\"NATO hints at Ukraine's potential alliance membership, infuriating Zelensky.\">highly anticipated summit<\/a> in Jackson Hole, Wyoming.<\/p>\n<p>Like other \u2063Republicans, Scott \u200btakes issue with Powell&#8217;s assurances that inflation would be &#8220;transitory&#8221; in 2021 as the \u2062country recovered from the pandemic.\u200d The Fed abandoned that stance last year in the face of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/shades-of-jimmy-carter-gas-lines-inflation-rising-unemployment-return-under-biden\/\" title=\"Shades Of Jimmy Carter: Gas Lines, Inflation, Rising Unemployment Return Under Biden\">significant price increases<\/a> and has since implemented a series of rate hikes.<\/p>\n<h3>Scott Blames Powell for Missteps<\/h3>\n<p>Scott attributes\u200c the failure of Silicon Valley Bank earlier this year to \u2064a &#8220;lack\u2062 of oversight&#8221;\u2064 and has been \u200cscrutinizing the size of the \u2063department&#8217;s balance sheet since 2020.\u200c He holds\u2062 Powell responsible for what he perceives as a series \u2062of missteps by the\u2064 Fed.<\/p>\n<blockquote>\n<p>\u201cThe only announcement that Jay Powell should be making today is \u200bhis resignation, effective \u2063immediately,&#8221; Scott stated. &#8220;His gross mismanagement of the Federal Reserve has stolen the American Dream from millions of families and \u2062<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/everyone-who-backed-lockdowns-is-blaming-everyone-else-for-learning-loss\/\" title=\"Everyone Who Backed Lockdowns Is Blaming Everyone Else for Learning Loss\">caused massive damage<\/a> to our economy.\u201d<\/p>\n<\/blockquote>\n<p>Powell, however, took a hawkish\u2064 tone at the annual\u2064 policy summit, suggesting that further\u200d rate hikes might be necessary \u2062to achieve the 2% target.<\/p>\n<blockquote>\n<p>\u201cWe are attentive to \u2064signs \u2062that the economy may\u2063 not be cooling as expected,\u201d Powell said. \u201cWe are prepared to raise rates further if appropriate and intend to hold policy at a restrictive\u2063 level until we are confident that \u200dinflation is moving sustainably \u200cdown toward our objective.\u201d<\/p>\n<\/blockquote>\n<p>Powell, who\u2062 was chosen\u2062 by former\u200d President Donald Trump to\u200b serve as\u2064 Fed chairman in 2018, was renominated for a second term last year. Despite \u2063overwhelming confirmation by the Senate, Scott was one of the 19 senators who opposed his\u200c nomination.<\/p>\n<p>Scott \u200cand another &#8220;no&#8221; vote, Sen. Elizabeth Warren (D-MA), introduced a\u200d bill in March to \u200bestablish a Senate-confirmed inspector general for the Federal Reserve system. This move was\u2063 prompted by bank failures and a stock trading\u200b scandal that the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rick-scott-calls-on-jerome-powell-to-resign-over-gross-fed-mismanagement\/\" title=\"Rick Scott demands Jerome Powell's resignation due to Fed's 'gross' mismanagement.\">current inspector general investigated<\/a> last year.<\/p>\n<p>This \u200bis not the first time\u2063 Scott has called for the \u200dresignation\u200b of a high-ranking official. As Florida governor, he\u2063 demanded \u2062FBI Director Christopher Wray step down after the agency failed to act on a tip to prevent a school shooting in the state. Earlier\u200c this year, he also called on President Joe Biden to resign, sparking a war of words over Scott&#8217;s controversial 12-point policy agenda.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\">Click here<\/a> to read more from The Washington Examiner.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sen. Rick Scott (R-FL) demanded Federal Reserve Chairman Jerome Powell&#8217;s resignation before the Jackson Hole summit. Scott, along with fellow Republicans, criticized Powell&#8217;s belief in temporary inflation as the nation recovered from the pandemic.<\/p>\n","protected":false},"author":1,"featured_media":2012023,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2012022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2012022","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2012022"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2012022\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2012023"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2012022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2012022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2012022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}