GOP Rep. Hill Rips Dems' Economic Policies, Warns 'We're Going to Lose Our Country'

During a Wednesday interview on Fox Business Network’s “Mornings with Maria,” Rep. French Hill (R-AR) warned that President Joe Biden’s reshaping of the Federal Reserve could result in the country being “taken over by inflation.”

Hill voiced his concern about the Fed losing its independence combined with all of the social spending. He argued that “we’re going to lose our country.”

“I’m concerned about the Fed … losing its independence,” Hill stated. “And Lael Brainard is the progressive choice, as you suggest, but there are also two other critical open positions on the Fed. And Democrats support Modern Monetary Theory, which means that we can print as much money we want and spend as much money we want, and there are no consequences to the American taxpayer or the American citizens. That’s crazy. And I’m afraid if that goes into place, we will be using the Fed as the bank for American citizens, as Professor Omarova, the nominee for the Comptroller of Currency, suggests — that we all bank at the Fed and we do away with the banking system.”

He continued, “You combine that kind of attitude about the Fed — it’s just another department of government and not the independent central bank — with this kind of fiscal stimulus, we’re going to lose our country, lose our central bank independence, and our country will be taken over by inflation and, I think, a socialist-style banking system.”

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