Rich Zeoli

The Rich Zeoli Show- Hour 2: Dr. EJ Antoni—Economist & Research Fellow in The Heritage Foundation’s Grover M. Hermann Center for the Federal Budget—joins The Rich Zeoli Show to discuss his latest editorial, “The Fed’s Powell Will Have to Play Politics to Keep His Job.” Dr. Antoni writes: “When [Chairman of the Federal Reserve Jerome] Powell was up for renomination, he dutifully kept interest rates below 1% percent and exploded the Fed’s balance sheet, barely keeping it below $9 trillion in an unprecedented act of money creation. When asked about raising interest rates three-quarters of a percent in the face of 40-year-high inflation, Powell said such a move was off the table and called inflation ‘transitory’… Once the Senate confirmed him for a second term as chairman, however, Powell promptly delivered four of those three-quarter-percent interest rate hikes in a row and began reducing the Fed’s balance sheet to belatedly fight runaway inflation.” You can read Dr. Antoni’s full editorial here: https://ww