Moreno Bill Calls on Powell to Cut Rates, Help Working Class Americans

WASHINGTON –Today, Senator Bernie Moreno (R-Ohio)introduced a billcalling on Federal Reserve Chairman Jerome Powell to cut interest rates and help working-class Americans. Moreno’s bill comes after Powell againrefused to cutinterest rates, leading two FOMC members to dissent from a rate decision for the first time since 1993, and is his latest effort against the Federal Reserve Chairman.
In a Julyletter, Senator Moreno demanded the resignation of Powell, after weeks ofquestioninghim on his refusal to lower interest rates. In June, Senator MorenohammeredPowell on his repeated public attacks on President Donald Trump’s trade agenda and refusal to lower rates despite persistently low inflation.
Read the full billHERE.