ICYMI: Rep. Hill on Punchbowl News: "The Fed Should be Solely Focused on Price Stability"

Yesterday, Rep. French Hill (AR-02) joined Punchbowl News for a pop-up conversation with Heather Caygle about the issues facing American workers including inflation, the economy, and the potential of a digital currency.

To watch the full interview, click HERE or on the video below.

Topline Quotes:

  • “The Fed kept their foot on the accelerator much too long and they should have eased up in Q4 of 2020, many of us were arguing that case, they should not have greenlighted any more spending by the Biden Administration.”

  • “The Federal Reserve is behind. They are a contributor to why we have 8% inflation – the highest in forty years. The central bank just made a mistake, and they’ve acknowledged that it was a mistake. Secretary Yellen, our Treasury Secretary, has acknowledged that it was a mistake and that inflation is not transitory."

  • “The Fed should be solely focused on price stability and let the legislative and executive branches follow-up and perform their tasks as to policies that relating to maintain, or enhancing, full employment.”

  • “We don’t believe that a new form of money, digital money, a digital dollar, can be introduced into the economy without a specific authorization from Congress. Ranking Member Patrick McHenry and I in the last couple of weeks wrote Merrick Garland asking for clarification that, in fact, it does take specific legislative action from Congress.”

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