Home » Economy » Home Depot founder shares 'brutal' truth about Fed, urges entire board to resign
Home Depot founder shares 'brutal' truth about Fed, urges entire board to resign
Fed is ‘pouring more gasoline’ on the economic fire: Ken Langone
Home Depot co-founder Ken Langone makes a ‘draconian’ suggestion for the entire Federal Reserve board to resign.
An American business leader and billionaire has shared a "Draconian" suggestion for the Federal Reserve board to resign, claiming its action to tackle inflation will leave America’s economy in a "painful" spot.
"They've blown this from the very beginning," Home Depot co-founder Ken Langone said on "Cavuto: Coast to Coast" Wednesday. "We're now dealing with the price we've got to pay for free money, and it's going to be painful and it's not going to be easy."
Langone’s comments come just hours before the Federal Reserve is expected to deliver its next rate hike decision. The billionaire businessman ripped into the Fed’s inflation response, and called for the entire board to recuse themselves from office.
"We're just talking about spending money, that's all we're doing. We've already got a serious inflation problem, and you're going to put more gasoline on the fire," Langone told host Neil Cavuto. "I think this Federal Reserve Board should all resign right now."
HOME DEPOT FOUNDER SCHOOLS FED, BIDEN OVER THE ‘TRAGEDY’ THAT COMES WITH INFLATION
"Powell, I don't know [how] his background lends itself to his job here," he continued, "but I can think of people like, and again I'm partial, Kevin Warsh, Larry Lindsey, Stan Druckenmiller… we need a William McChesney Martin."