In a fiery call to action, Senator Tim Scott has urged Federal Reserve Chair Jerome Powell to immediately lower interest rates, criticizing him as a poor leader for the central bank. This urgent plea comes after the Federal Open Market Committee decided to keep rates unchanged for the fifth consecutive time, leaving many economic observers and citizens disappointed.

Scott, speaking on “Sunday Night in America,” didn’t hold back his disdain for Powell, stating, “Powell is a terrible chairman. It was a mistake I put him in, and Biden extended him.” With the economy teetering on the edge of stagnation, Scott emphasized the need for lower rates to stimulate growth, arguing that the current rates are “too high” and detrimental to American competitiveness in a global market.

The senator pointed out that while the European Union has been proactive in cutting rates to boost their economies, the U.S. has remained stagnant, putting American businesses at a disadvantage. “For our economy to continue to boom, we need to lower rates,” Scott asserted, highlighting that the U.S. is nearing full employment with stable prices—a perfect environment for a rate cut.

As the nation faces critical trade negotiations with global powers, including China, Scott warned that inaction could lead to missed opportunities for American workers. He called for decisive leadership and swift action to ensure favorable conditions for U.S. goods and services abroad.

Scott’s remarks come at a vital juncture, as the economy grapples with uncertainty. With pressure mounting for the Fed to act, the eyes of the nation are on Powell. Will he heed Scott’s urgent call, or will the status quo prevail, leaving American families and businesses in a lurch? The stakes have never been higher.