Heritage Explains How is the Economy Doing, Really? | EJ Antoni
Feb 4, 2026
E.J. Antoni, Chief Economist at The Heritage Foundation and economic policy analyst, discusses the tradeoffs in federal financial policy. He assesses recent U.S. economic performance. He covers inflation drivers like spending and Fed policy. He evaluates tariffs as a negotiating tool and explains ‘Trump accounts’ for youth financial starts.
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Snow Shovel Price-Gouging Example
- The host uses a snow-shovel price-gouging story to show how price controls can create shortages.
- When the town outlawed higher prices, the shopkeeper stopped stocking extra shovels and they sold out next storm.
Partial Recovery In Real Wages
- Under Trump the average weekly paycheck buys about 1.5% more than when Biden left office.
- We have corrected course but still haven't recovered roughly 2.5% of lost purchasing power since early 2021.
Keep Course-Correcting Policies
- Double down on policies that helped course correct inflation and remove the policies that caused it.
- Continue fiscal restraint and prudent monetary policy to restore lost purchasing power.