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Op-Ed: Federal Reserve Chairman Jerome Powell Wants to 'Get Back' to the Trump Era of Low Inflation

This article was co-authored by Andy Puzder and Jim Talent. It originally appeared on on June 22, 2022.

Andy Puzder is a former CEO of CKE Restaurants, chairman of 2ndVote Value Investments, Inc., and a senior fellow at the America First Policy Institute.

Jim Talent is a former U.S. senator from Missouri and the Chairman of the Reagan Institute's National Leadership Council

'The labor market we had before the pandemic... that's what we want to get back to.'

So said Federal Reserve Bank Chairman Jerome Powell last week following his announcement that the Fed is raising its benchmark interest rates three-quarters of a percentage point – the most aggressive hike in 28 years.

With inflation surging, it's little wonder he's nostalgic for a time when inflation was low, unemployment was at historic lows, labor participation was increasing, and real wages were increasing faster than inflation.

In short, Powell wants to return to the conditions which prevailed during President Donald Trump's Administration before the pandemic.

Of course he does; as of today, his stewardship at the Federal Reserve is an epic fail.

Click here to read the full article.

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