Sen. Rand Paul (R-KY) told Breitbart News in a statement Monday that Jerome Powell’s renomination to serve a second term as the Federal Reserve chairman will do nothing to curb “America’s inflationary spiral.”
President Joe Biden tapped Jerome Powell to serve a second term as the head of the nation’s central bank.
The decision to renominate Powell follows the nation continuing to grapple with soaring inflation. The Federal Reserve chair has escaped blame for the rising inflation, although the Federal Reserve’s monetary policy plays a significant role in managing the nation’s money supply and current inflationary environment.
Biden said in a statement:
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