Sen. Tim Scott: Fed chairman 'finally speaking the truth' about unprecedented inflation

Sen. Tim Scott, R-S.C., said on "America's Newsroom" Wednesday that the current level of inflation is "unprecedented" and Federal Reserve Chairman Jerome Powell is now "speaking the truth" about it. 

CONSUMER INFLATION HITS HIGHEST SINCE 1982

TIM SCOTT: There's no doubt that when you think about inflation, it's bone-crushing, life-changing, hope-stealing, job-killing inflation. There's no doubt in my mind that I'm thankful that it's no longer considered transitory. Finally, Chairman Powell is speaking the truth, which is that this is unprecedented. 

The last time inflation was this high, I had an afro and that was a long time ago, the early 1980s. The truth is that we have to find a way to forge forward by reducing spending from the federal government and allowing raises in the private sector. That means that we have to pull back on this Build Back Broker plan that the Democrats are still trying to weave together. 

It is not good for the American family. It is not good for single moms to work paycheck to paycheck. This is frankly not good for rural America, where you have one grocery store or one gas station and you simply can't keep it all together. Let's have a Christmas surprise and not pass the BBB.

WATCH BILL HEMMER AND DANA PERINO'S INTERVIEW BELOW