Florida Congresswoman Anna Paulina Luna, a staunch MAGA Republican, has launched a scathing attack on Federal Reserve Chair Jerome Powell, accusing him of failing to control soaring inflation and mismanaging the US economy.
In a fiery statement, Luna claimed that Powell's policies have exacerbated financial hardships for American families, leaving many struggling with rising costs. "The Fed's reckless decisions are crushing working-class Americans," she declared.
Growing Conservative Backlash
The outspoken lawmaker's criticism reflects growing discontent among conservatives regarding the Federal Reserve's approach to monetary policy. Luna argued that Powell's tenure has been marked by "poor judgment" and "lack of accountability."
Economic analysts note that inflation remains stubbornly high despite aggressive interest rate hikes, fueling political tensions ahead of the 2024 election cycle.
Powell's Controversial Legacy
Jerome Powell, appointed by former President Trump but reappointed by Biden, faces mounting scrutiny from both sides of the political spectrum. While Democrats criticise his aggressive rate increases, Republicans like Luna argue he acted too slowly to curb inflation.
The Fed chair maintains that current policies will eventually bring inflation down to the 2% target, though he acknowledges the process causes economic pain.
This latest confrontation highlights the increasingly political nature of central banking in America, with MAGA Republicans seeking more influence over monetary policy decisions.
