WASHINGTON, D.C. – Today, America First Works (AFW) condemned Chair of the Federal Reserve Jerome Powell for his refusal to cut interest rates, which is costing American families, and once again called for his immediate resignation.
“Jerome Powell’s decision today to keep interest rates high is unconscionable. Every day that he refuses to cut rates costs American families billions of dollars. He is running out of excuses. Inflation is down, tariffs are working, and the American economy is soaring. Just out today, Q2 GDP growth shattered all expectations at a rate of 3%. The only holdup to our success right now is the Fed. On top of this, we learned from President Trump’s visit to the Fed HQ that Powell is mismanaging the construction of his new palace, costing taxpayers another $3 billion. If Jerome Powell is so determined to waste money, he can do so with his own pocketbook, not ours. It is past time for Powell to resign.”
– Ashley Hayek, President of AFW