Hello everybody and thank you for tuning in to the Weekly Report.

America's most dangerous, unknown man.

The US Senate will soon vote on Federal Reserve Chairman Jerome Powell's nomination to a second

term.

One of the Senators opposing Powell is Elizabeth Warren.

I don't often agree with Senator Warren, but I do agree with her assessment that Powell

is dangerous.

However, Warren actually doesn't understand what makes Powell or any Fed Chairman intrinsically

dangerous to liberty and prosperity.

Warren thinks Powell is dangerous because she thinks he will not be supportive enough

of imposing her desired new regulations on banks and other financial institutions.

Senator Warren, like most progressives, clings to a fantastical notion that regulations

benefit workers, consumers, and small businesses.

The truth is, most regulations benefit large corporations by imposing costs that big businesses

can easily absorb, but that their smaller competitors cannot.

Powell is a threat to the American people.

Under his tenure, the Fed has kept interest rates at or near zero.

The Fed's balance sheet has grown to over $8 trillion.

This has caused prices decline at a rate America has not seen in several decades.

At his nomination hearings before the Senate Banking Committee, Powell reiterated the

Fed's intention to fight inflation by reducing its monthly $120 billion purchase of

treasuries and mortgage-backed securities.

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