Sen Bernie Moreno Exposed Fed Chair Jerome Powell as a Hypocrite: ‘Should Resign’

Senator Bernie Moreno (R-OH) grilled Federal Reserve Chair Jerome Powell over his apparent politically motivated comments regarding President Trump’s tariffs and his unwillingness to lower interest rates despite a surging economy.

Moreno was particularly incensed that Powell had been willing to publicly speak out on the matter of tariffs when he had remained silent on all issues under the Obiden Regime.

On every matter from COVID lockdowns to vaccine mandates, and on to taxation of corporations and banning LNG (Liquified Natural Gas), Powell stayed quiet.

But tariffs, in his mind, will send inflation soaring, as if we did not watch rates blow through the atmosphere when Biden was occupying the White House.

Powell, in testimony before the Senate Banking, Housing and Urban Affairs Committee on Wednesday, insisted:

[T]here will be some inflation from tariffs coming.

Moreno wanted to know why Powell was such a critic of Trump’s economic policies but did not squeak like a mouse once during Biden’s four-year crusade to crater the economy.

He posted on X:

Powell didn’t comment when Dems sent inflation soaring with Covid lockdowns, vaccine mandates, LNG export bans, and massive tax hikes. But he’s all too happy to attack President Trump’s trade agenda.

Further:

He’s costing America 100s of billions and should resign.

And Moreno wondered:

Did you comment during COVID lockdowns that was a bad idea, meaning that you’re shutting down the entire economy?

Powell replied, “Of course not.”

Of course not? Lockdowns were only one of the most significant factors in devastating the American economy for years. Why would he comment on that?

But tariffs, which experts such as himself can only theorize, will at some point down the road have a minor effect on the economy? Now that’s what Powell is focused on.

Moreno proceeded to point out that Biden’s dictatorial decree on vaccine mandates delivered a shock to the supply chain by ravaging workforces, but Powell remained silent.

The Senator asked:

If I’m running an assembly line, and now I have to put my people six feet apart, and now I have people quitting or not coming to work, or I have to fire them. That’s a supply chain shock. Wouldn’t you agree?

Powell demurred, dismissing it as less an economic issue and more “a medical thing.”

Moreno noted next that the burden of corporate taxes is eventually passed on to the consumer, a point Powell conceded. Additionally, Moreno mentioned that bans on LNGs cause commodity prices to rise, and how student loan forgiveness is unfair to the working class.

And the Ohio senator pointed out:

But you don’t comment on that. You comment on tariffs.

Powell countered, despite commenting on tariffs earlier in the hearing and having done so for months:

I don’t comment on tariffs at all actually. I comment on inflation.

Moreno concluded by asking Powell to consider whether:

[He is] really looking at this from a fiscal lens or a political lens, because you just don’t like tariffs.

President Trump on Tuesday hammered Powell over his refusal to cut interest rates and expressed:

[Hope that Congress] really works

this very dumb, hardheaded person, over.

Further:

We will be paying for his incompetence for many years to come.

Powell’s term as Chair is set to expire in May 2026. Trump could choose not to reappoint him and appoint a new Chair at that time, subject to Senate confirmation.

According to the Wall Street Journal:

The president is currently weighing the potential of naming his successor much earlier than is customary, in an attempt to ‘undermine’ Powell.

God speed Mr. President.