“President Biden, I don’t blame him, I understand politics, he keeps saying, well, your 401(k) has crashed, and gas has gone from $2 to $5 a gallon because the economy is so good,” Kennedy said, adding “the American people know that is not true.”
The senator then asked Powell if he can also lower demand but increase supply, to which Powell said “yes” after acknowledging that the Fed was trying to “slow down growth” amid the high inflation.
“We have inflation, duh,” was Kennedy’s response after blasting the Biden administration for injecting trillions of dollars into the economy and then being surprised at the the crippling inflation as a result.
"We have inflation, duh!"
Sen. John Kennedy grilled Fed Chair Jerome Powell on inflation. pic.twitter.com/HGEUbOy1Zo
— Real Mac Report (@RealMacReport) June 22, 2022