Part 2/9:
Senator Tim Scott fronted the lines of questioning, addressing the Fed's purported shift from monetary supervision to climate-focused initiatives through its involvement in "Greening the Financial System." Critics outline that this movement is more political than environmental, suggesting that the initiative was a maneuver to pave the way for a centralized digital currency. Scott emphasized the need for the Fed to prioritize its fundamental responsibilities—managing the monetary policy that affects interest rates and the supply of U.S. dollars—over social issues. He argued that the Fed's actions could be seen as prioritizing political agendas over the economic well-being of American citizens.