A group of Senate Republicans are raising red flags over the rapid expansion of the Federal Reserve’s balance sheet, which they worry could impact interest rates, the strength of the U.S. dollar and the overall U.S. economy before colleagues realize it’s a serious problem.
Concerns being raised by Sens. Rick Scott (R-Fla.), David Perdue (R-Ga.), James Lankford (R-Okla.) and others show that opposition to passing a stimulus bill that exceeds $1 trillion is spreading in the GOP conference beyond Tea Party stalwarts such as Sens. Rand Paul (R-Ky.) and Ted Cruz (R-Texas).
As deficit concerns go mainstream in the Senate GOP conference, it puts more pressure on Senate Majority Leader Mitch McConnell (R-Ky.) to take a hard line with the Trump administration and Senate Democrats in the relief negotiations.
Read more at The Hill.