Senator Bernie Moreno (R‑OH) blasted economic experts and Federal Reserve leadership during a Breitbart News policy event, declaring they’ve been “catastrophically wrong” about President Donald Trump’s tariffs and their impact on inflation and economic growth.
Speaking alongside Breitbart Editor-in-Chief Alex Marlow, Moreno pointed out that contrary to establishment warnings, Trump’s tariffs have not triggered inflation. Instead, they’ve spurred economic revitalization in industrial states like Ohio. “We’re rebuilding America because of tariffs,” Moreno said, adding, “If you’re from America, you’re going to bring more high-paying jobs to the United States—that’s fantastic.”
Moreno’s remarks come as the Federal Reserve continues to hesitate on interest rate cuts, citing inflation fears—many of which are pinned on Trump’s America First trade policies. Moreno sharply criticized Fed Chairman Jerome Powell, accusing him of ignoring Democrat-driven inflation while blaming tariffs.
In a heated exchange in June, Moreno reminded Powell that inflation surged under COVID lockdowns, LNG export bans, vaccine mandates, and tax hikes—all policies driven by Democrats. Yet, Powell has focused criticism on tariffs. “He’s costing America hundreds of billions and should resign,” Moreno declared.
Moreno emphasized that Powell, an unelected official, holds massive power over the economy, noting, “You are costing this government $400 billion a year by refusing to lower interest rates.” He challenged whether Powell’s decisions are based on fiscal responsibility or political bias, stating, “You just don’t like tariffs.”
Treasury Secretary Scott Bessent also took aim at the Fed during another Breitbart event, accusing the institution of suffering from “Tariff Derangement Syndrome.”
Moreno, one of the strongest advocates for Trump’s trade agenda in the Senate, continues to press for policies that protect U.S. manufacturing, grow wages, and challenge globalist economic orthodoxy.
