WASHINGTON, D.C.(WNAX)- Jerome Powell, Chair of the Federal Reserve, appeared before the Senate Banking, Housing, and Urban Affairs Committee Tuesday.
Committee member, South Dakota Senator Mike Rounds said he believes Biden Administration policies have led to the current high rate of inflation.
Rounds said Federal Reserve actions won’t directly address the energy production shortfall.
Rounds asked Powell about Administration policy impacting inflation.
Rounds pointed out the current inflation rate is still above eight percent.