Sen. Bernie Moreno (R-OH) unleashed a scathing critique of Federal Reserve Chair Jerome Powell, accusing him of costing the U.S. government a staggering $400 billion annually through inaction on interest rates.

According to Breitbart, Moreno confronted Powell during a heated Senate Banking Committee hearing, slamming the Fed chief for dodging responsibility on inflation drivers while selectively criticizing President Trump’s trade policies.

The clash began with Moreno questioning Powell’s silence during progressive policy missteps like COVID lockdowns, which shuttered entire sectors of the economy. “Did you comment during COVID lockdowns that was a bad idea?” Moreno pressed, only to hear Powell deflect with a curt “Of course not.” It’s telling when a Fed chair ducks accountability for policies that sent prices soaring.

Senator Challenges Fed’s Inflation Silence

Moreno didn’t stop there, zeroing in on the Biden administration’s vaccine mandates as a clear supply chain disruption. Powell’s dismissive “it’s a medical thing” sidestepped the economic fallout of workers being fired or spaced apart on assembly lines. If that’s not a recipe for inflation, what is?

The senator then raised the issue of energy policy, asking if banning liquid natural gas exports—a move that spikes commodity costs—could fuel inflation. Powell’s lukewarm “potentially could” hardly inspires confidence in a Fed supposedly laser-focused on price stability. Seems like selective blindness to me.

Corporate taxes became Moreno’s next target, with the senator debunking the myth of some faceless entity footing the bill. Powell admitted shareholders and consumers ultimately pay, yet still refused to link tax hikes to inflation, a connection as obvious as a sunrise.

Policy Hypocrisy Under Fire

Moreno exposed a glaring inconsistency when Powell claimed the Fed doesn’t comment on trade policy, per a letter he sent. Yet, the Fed chair seemed eager to critique Trump’s tariff plans while ignoring other inflation triggers like tax policy or supply shocks. Why the cherry-picking?

The senator’s frustration boiled over when discussing student debt forgiveness, a pet project of the left. Moreno contrasted a Harvard gender studies grad with a working-class Ohio plumber struggling under high interest rates, asking why one gets a bailout over the other. Powell’s noncommittal stance only fuels the perception of elitist bias.

“I don’t comment on tariffs at all actually. I comment on inflation,” Powell insisted, though Moreno quickly countered that the Fed chief’s focus seemed suspiciously narrow. If you’re only weighing in on tariffs, that’s not principle—it’s politics.

Moreno Demands Accountability

The hearing’s crescendo came with Moreno’s blunt assessment of Powell’s tenure. “You are costing this government $400 billion a year by refusing to lower interest rates,” he charged, highlighting the Fed’s outsized impact on the deficit. That’s a burden no unelected official should wield unchecked.

Moreno reminded Powell of the democratic gap: senators are elected by millions, while the Fed chair answers to just one. “You got elected by one person who doesn’t want you to be in that job,” he quipped, a sharp nudge at the lack of accountability. It’s a fair point for taxpayers footing the bill.

The senator wrapped up by questioning Powell’s lens—fiscal or political? Suggesting the Fed chair’s aversion to tariffs might cloud his judgment, Moreno urged a hard look at priorities. When $400 billion hangs in the balance, ideology shouldn’t trump math.

Working Americans Bear the Cost

This showdown isn’t just about numbers; it’s about who pays the price for Fed inaction. Moreno’s push for answers resonates with everyday folks squeezed by high car prices and interest rates, while Powell dodges the tough calls. That’s not leadership—it’s evasion.

From lockdowns to energy bans, the policies Moreno flagged have real-world bite, yet the Fed seems content to play spectator. Conservatives might argue this reflects a deeper disconnect—an institution too cozy with progressive agendas to challenge their fallout. Still, Powell’s role demands tough scrutiny, not blind trust.

Ultimately, Moreno’s grilling of Powell underscores a cry for fairness in economic policy. When working-class Ohioans struggle while the Fed drags its feet, the call for resignation isn’t just rhetoric—it’s a plea for relief. Let’s hope this sparks a reckoning before another $400 billion slips away.