E.J. Antoni

And, you know, we have this notion that's fueled by the media and by Federal Reserve officials that we've been trending towards this target inflation rate of 2% per year. But that's simply not true. We haven't been trending there. We've been trending to about 3%. And we actually arrived there quite some time ago, and we have been stuck there at about 3%.

And there's no sign that we're going any lower anytime soon.

And there's no sign that we're going any lower anytime soon.

Well, unfortunately, when the government does a bad action, we don't feel all of the bad effects right away. It's very similar to if you drink too much, you know, you get that buzz first, but then the hangover only comes the next morning. And we see the exact same thing with a lot of government overspending.

Well, unfortunately, when the government does a bad action, we don't feel all of the bad effects right away. It's very similar to if you drink too much, you know, you get that buzz first, but then the hangover only comes the next morning. And we see the exact same thing with a lot of government overspending.

Initially, we didn't get to 9% inflation right away at the start of the Biden administration. We got there about a year and a half into his term. And the reason for that was that it takes time for all this government spending to slosh its way through the financial system. But eventually it does work its way through and it ends up creating higher prices for consumers.

Initially, we didn't get to 9% inflation right away at the start of the Biden administration. We got there about a year and a half into his term. And the reason for that was that it takes time for all this government spending to slosh its way through the financial system. But eventually it does work its way through and it ends up creating higher prices for consumers.

That's what we're seeing play out yet again as the Biden administration not only continues the runaway spending, but now, again, we have this what I would think is election interference on the part of the Fed.

That's what we're seeing play out yet again as the Biden administration not only continues the runaway spending, but now, again, we have this what I would think is election interference on the part of the Fed.

cutting interest rates hard and fast right before the election to, I think, try to produce a certain outcome, which they obviously didn't get, but which will nonetheless produce some very bad effects for the American consumer next year. Now, on the other side of the equation, you have President Trump with a very pro-America energy policy that should help reduce prices.

cutting interest rates hard and fast right before the election to, I think, try to produce a certain outcome, which they obviously didn't get, but which will nonetheless produce some very bad effects for the American consumer next year. Now, on the other side of the equation, you have President Trump with a very pro-America energy policy that should help reduce prices.

Because if you increase the supply of energy, you'll reduce the price. And when you reduce the price of energy, you reduce prices throughout the economy, since everything uses energy, all kinds of goods and services. So you have one thing from the Fed that's going to help push up prices. You have another thing coming out of this administration that will help push down prices.

Because if you increase the supply of energy, you'll reduce the price. And when you reduce the price of energy, you reduce prices throughout the economy, since everything uses energy, all kinds of goods and services. So you have one thing from the Fed that's going to help push up prices. You have another thing coming out of this administration that will help push down prices.

Which of those is going to win out at the end of the day is unclear.

Which of those is going to win out at the end of the day is unclear.

A deregulation would have a tremendous impact. And we actually saw that during the first Trump administration. There was an interesting gathering where he asked several hundred business leaders from everything from small to large businesses, what did you love most about my first term? By the way, you got to appreciate how the president always phrases these things. What did you love most about me?

A deregulation would have a tremendous impact. And we actually saw that during the first Trump administration. There was an interesting gathering where he asked several hundred business leaders from everything from small to large businesses, what did you love most about my first term? By the way, you got to appreciate how the president always phrases these things. What did you love most about me?

But he gave them a choice. What was better, the tax cuts or the deregulation? Every single one of them said it was the deregulation. That provided much more benefit. And it not only provides benefits to those business leaders and to those businesses, but also to the broader economy. The reason being that when the government taxes you,

But he gave them a choice. What was better, the tax cuts or the deregulation? Every single one of them said it was the deregulation. That provided much more benefit. And it not only provides benefits to those business leaders and to those businesses, but also to the broader economy. The reason being that when the government taxes you,

They take money from you, but that money is going to get spent somewhere else. So it may be less efficient, but it's not a complete subtraction from the economy. Regulation, however, is exactly that. It is a complete subtraction. It represents a loss of economic activity that's not being transferred from one person to another. It just vanishes.