so they are boxed in and it would take a very strong character at the helm of the fed, shb like paul volker to really get monetary policy back on an even keel and an anti-inflationary stance that provides for true price stability arizona is requested by congress. >> i am beginning to see more and more talk about where is paul volker these days, resident clearly, the grassroots are looking for something a little bit more hawkish we will leave it there thanks for your time we appreciate it robert heller joining us today with reaction to the fed's decision. >>> just minutes away from fed chair jerome powell's press conference we expect he will be asked about the time line for the tera hikes. we will take you three when "power lunch" returns. eals on e- including the iphone 13 pro with 5g. that's the one with the amazing camera? yep! every business deserves it... like one's that re-opened! hi, we have an appointment. and every new business that just opened! like aromatherapy rugs! i'll take one in blue please! it's not complicated. at&t is giving new and existing customers our best deals on eve

and early '80s when inflation got much more out of control than what we're seeing now, ultimately paul volkerir under ronald reagan ended it by driving interest rates up. the fed a critical player in terms of driving prices up, they've concluded not yet do they need to race interest rates. this goes to the largeer challenge next fall for democrats, midterm elections are about current conditions. they tend to be dominated by how people feel things are going at that moment, rather than legislative achievement. obviously biden needs better sense of inflation, crime, covid are all under stronger control than they seem to be today. >> if we're talking about the president, we know his advisers have long argued they need to bring back blue collar voters. they're arguing these efforts by the president could be signed into law. realistically, ryan, as we look at that, how much will this infrastructure bill actually deliver when we're talking about jobs, and specifically blue collar jobs in this country? >> well, there are few analyses out there that definitely point to the fact that this will -- the b

president reagan was very respectful, but it turned out that what paul volker thought he had to do happen to be exactly in compliance with what lindell said. in order to have the tax policies expand on the economic output. >> the combination of low tax rates and found money, to me, that's the most important lesson to be learned. i was a young kid then. i did sit in on one of those voter meetings. reagan and volker had something in common. volker was the last guy, he was defeated when nixon went through what he went through in the early 70s. volker was the undersecretary of the treasury at the time. he did not want to de-link the dollar. he wanted to make some minor price adjustments to the gold link, but not and it. i don't know about burns. burns i've heard both ways. i know volker, i know him very well. i was once his executive assistant. i think reagan, those guys saw things syrians similarly. the rest of reagan's didn't like volker and try to push him out, and eventually succeeded in 1987. green span came in, i thought he did a pretty good job. but i always thought those guys -- >> ex

barnicle and myself, actually, probably the only ones, that remember when inflation took off and paul volkero 21%. can you imagine that? anything you borrow for your house, your car, for anything, 21% interest rates. we don't want to get there. democrats have got to figure all this out. >> yeah. >> they have to figure out the inflation part of it. they have to figure out the supply chain part of it. they have to figure out the rising gas rises. they've got to figure out rising prices at the grocery store. and if they don't, they're getting wiped out. let me just say, right now, politically, there is no issue more important than that. getting people back to work. getting goods back on the shelf. holding inflation in check. three things. you don't get those three things right, nothing else that you do over the next year, democrats, is going to mean a damn bit of -- make a damn bit of difference to voters as they go to vote in 2022. >> keeping in mind that republicans are making this very difficult. every step of the way. >> you don't even have to say that. >> i know, but i think it is a good p

. >> look up the name paul volker. >> steve rattner, thank you very much. >> always fun. >> great toperson. >>> coming up on "morning joe" -- >> we tape this show around 5:30 in the afternoon, which is before the polls close. so we don't know who won. congratulations, eric adams. >> it was a pretty safe prediction. eric adams joins us live in just a few minutes. >> curtis did take a cat to the polling puth. >> -- booth. >> that was good. he has 17 cats. we'll be right back with much more on "morning joe." this is the new world of work. each day looks different than the last. but whatever work becomes... the servicenow platform will make it just, flow. whether it's finding ways to help you serve your customers, orchestrating a safe return to the office... wait. an office? what's an office? or solving a workplace challenge that's yet to come. whatever the new world of work takes your business, the world works with servicenow. >>> hold on. >> please leave. >> heilemann. >> welcome back to "morning joe." >> not leaving. >> so needy. >> november 3rd. michael steele and katty kay are still