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Rep. Good Sends Letter to Federal Reserve Chair Calling for Fiscal Responsibility

May 14, 2021

WASHINGTON – U.S. Representative Bob Good (VA-05) led a letter to Federal Reserve Chairman Jerome Powell regarding recent comments during a 60 Minutes interview. Despite an underwhelming jobs report and rising inflation, Chairman Powell is acting as arubber-stamp for President Biden’s calls for increased spending and high unemployment rates. This letter is part of Congressman Good’s effort to cut government waste and rein in spending.

“In April, inflation accelerated at its fastest pace in more than 12 years. While every day Americans are getting hit hard at the gas pump, grocery store, and other daily services, unelected bureaucrats like Chairman Powell continue calling for increased spending. By scratching their spending itch and moving money that does not exist, the Biden Administration is crippling the buying power of future generations and shirking all responsibility for the current spending crisis. I’m calling for answers from Mr. Powell and the Biden administration on what they intend to do to return our country to a responsible spending path.” – U.S. Representative Bob Good (VA-05)

Original co-signers: Michael Cloud (R-TX), Ted Budd (R-NC) Ralph Norman (R-SC), Mark E. Green M.D. (R-TN), Scott Perry (R-PA), Glenn Grothman (R-WI), Lauren Boebert (R-CO), Andy Biggs (R-AZ), Chip Roy (R-TX), Ben Cline (R-VA)

See full letter HERE.

Rep. Good’s letter requests answers from Chairman Powell to several questions:

  • Do you believe the U.S. federal budget is on an unsustainable path? In your opinion, what is an unsustainable path?
  • Do you believe the trajectory of the national debt is at an unsustainable level today?
  • States and businesses are re-opening from strict COVID lockdowns, and most economic projections are strong for 2021. If, in your opinion, now is not the time to return to sustainable fiscal policies, could you please provide specifics on when that time might be?