In the third Republican debate held on Wednesday, candidate and Florida Governor Ron DeSantis underscored the need for a shift in the Federal Reserve's monetary policy. He outlined an agenda that includes a change in leadership at the Fed, as well as a commitment to price stability and curbing inflation.
DeSantis criticized the current economic situation and attributed the difficulties to both parties. He emphasized the need for the Federal Reserve to dedicate itself to price stability post-COVID-19. He also expressed his intention to replace Chairman Powell with a leader who would prioritize maintaining a stable dollar.
Since March 2022, the Fed has undertaken 11 rate hikes in an effort to combat inflation. DeSantis plans to counter these measures and undo what he termed "Bidenomics" through executive orders. His proposed regulation of the Federal Reserve's monetary policy was presented as part of this broader plan.
DeSantis' comments came during Wednesday's debate, where he pledged to address economic challenges facing the nation. His focus on regulating the Federal Reserve's monetary policy indicates a desire to take a hands-on approach to managing economic issues.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.