Sen. Rick Scott to Biden and Powell: Wake Up and Address Growing Inflation Now

Statement

Today, following the latest Consumer Price Index (CPI) release from the Bureau of Labor Statistics (BLS), Senator Rick Scott released the below statement calling out President Biden and Federal Reserve Chair Jay Powell for their total inaction on growing inflation. As inflation rises, price increases disproportionately hurt small businesses and low and fixed-income families. Today's BLS data, in conjunction with last week's Producer Price Index data, proves that prices are rising for families in Florida and across the nation. Year over year, consumer prices increased 2.6% in March -- a significant increase from the 1.7% increase reported for the 12-month period ending in February 2021. Food prices have seen a 3.5% increase over the last 12-months while gasoline prices are up 23%.

Senator Rick Scott said, "President Biden and Chair Powell need to wake up. When you grow up poor, as I did, you know how much it means to a family when prices go up. Today's CPI data is clear -- inflation is on the rise. Yet Biden and Powell remain in la-la land, ignoring the fact that prices of every day goods, like groceries and essential business supplies, are rising and making it harder for folks to make ends meet.

"Americans can't afford for this to be ignored any longer. It's time for Biden and Powell to return to reality and lay out a clear plan to address rising inflation and protect American families."

Since being elected to the U.S. Senate, Senator Scott has repeatedly urged action to address America's debt crisis and the harmful effects of inflation:

April 9, 2021: Sen. Rick Scott: Biden's Inflation Ignorance is Unacceptable, Hurts Families
April 2, 2021: IN CASE YOU MISSED IT… Sen. Rick Scott in Washington Post: Where's the anti-inflation plan, Mr. Powell?
March 24, 2021: Sen. Rick Scott to Federal Reserve: What's Your Plan to Address America's Debt Crisis?
March 17, 2021: Sen. Rick Scott: We're Watching Federal Reserve & President Biden's Response to Inflation
March 4, 2021: Sen. Rick Scott to National Economic Council: What's Biden's Plan to Stop Inflation?
February 23, 2021: Sen. Rick Scott: Fed Chairman Jay Powell Must Address Rising Inflation
February 16, 2021: IN CASE YOU MISSED IT… Sen. Rick Scott in the Tampa Bay Times: America Can't Keep Spending Without Consequence, We Must Address Our Debt Crisis Now
February 11, 2021: Sen. Rick Scott to Colleagues: Inflation from Unsustainable Federal Debt Hurts American Families
February 3, 2021: VIDEO RELEASE: Sen. Rick Scott: Congress Must Address Our National Debt and Rein in Spending
January 26, 2021: Sen. Rick Scott: Congress Must Get Serious About America's Debt
May 4, 2020: After coronavirus, for US to survive, we must tackle looming debt crisis: Sen. Rick Scott
February 5, 2020: Sen. Rick Scott to Chairman Powell: Take Action to Roll Back Growing Size of Federal Reserve's Balance Sheet
August 1, 2019: Sen. Rick Scott: Debt will destroy our country, if we let it

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