Sunflower State News

U.S. Senator Roger Marshall of Kansas appeared on Fox Business’ The Evening Edit to discuss Federal Reserve Chairman Jerome Powell’s leadership and recent decisions regarding interest rates and spending on the Federal Reserve headquarters renovations.

During the interview, Senator Marshall expressed concerns about Powell’s performance and suggested he should step down from his position. “I don’t see the president firing him, but Jay Powell should resign. That’s what he should do. He’s lost the confidence of the President and the American people. There’s a reason the President calls him ‘too late.’ He was too late when we saw Bidenflation just jump through the roof; they told us it would be transient, [but] he was so late that inflation was persistent.

“Then, a month before the November election, he suddenly, without good reason, he drops the interest rate. And now we just had a quarter of 2.1% inflation numbers, and he refuses to drop them. It just seems to me that Jay Powell has a blind spot. That he’s too much emotionally invested in the situation. Now it probably be best if he resigned. Gave us give us some notice, though, and let America’s economy get on the way here. We need to drop the interest rates.”

Senator Marshall also raised issues with spending related to renovations at the Federal Reserve headquarters: “We certainly need an inspector general, or the Government Accounting Office, to go in there and figure this out. This building costs $2,000 a square foot. It has a theater, it has wellness centers, and I don’t know if it’s gold-plated or not, but it’s way over budget. Did we even need a new one to start with? There’s much better things we could do with this money, and I do expect to see more of this as we go through some type of congressional hearing.”