in washington could spell trouble for him and his fellow democrats. you know what the states are. reporter: he is running for a second act as virginia s governor. but he is facing stronger-than-expected headwinds and potential fallout from a deep democratic divide. threatening to derail president biden s sweeping economic agenda. we control the house, the senate, and the white house. we need this infrastructure. i can tell you, as a former governor, it is absolutely critical for our bridges and roads so let s get it done. quit talking. reporter: his november race could offer clues for the democratic party s prospects of keeping control of congress in next year s midterm elections. with early voting already underway, he s locked in a tight contest with this republican businessman. all right. who s ready for a new governor? reporter: glenn youngkin is a former private equity executive trying to appeal to voters as an outsider. it s no longer republicans against democrats. t
still feels like no one knows where they go next. we re not sure what the powell doctrine is, we don t know what this fed is all about. the problem is we ve had a series of very strong fed leaders going back two general its rations, paul volcker, alan greenspan, ben bernanke, janet yellen. they ve been good communicators is and leaders because they re economists who come in with a strong policy vision, and they re like ceos. they bring their staff along, and they bring their board along. now comes jerome powell. he s an attorney, he s a private equity executive, he s not an economist, he doesn t have a strong vision. trump says he s a poor communicator, i don t disagree with that. he s also a poor leader, or at least he s abdicating. he doesn t have a vision as a strong ceo who s supposed to bring people along with a vision. i think that s what ceos do, that s what every fed chair since the 80s has done. so the market is having to get used to the idea of a fed chair who just simply
federal court to invalidate president obama s nonrecessed recess appointments to the national labor relations board. a few little while ago, the president basically made those appointments by just ignoring the senate s role of advising consent and d.c. circuit and third circuit have said that was an overreach of presidential power. that case is going to go up to the supreme court. i m happy to see the positive momentum. this is a hit to dean metropolis, private equity executive who this week brought back the great american institution, twinkie. hostess makes twinkies failed last november, heavy heavy union costs basically destroyed it. now leaner and meaner the twinkie is back. he also owns paps blue ribbon. you are glad he resurrected two of your favorite products. i m a fan of domestic macro brews. metropolis, when trying to make the case for prif equity last year. remember, if you have your
attending a fundraiser in new york city hosted by a prominent private equity executive. surprise. surprise. surprise, surprise. donny? josh, you know, i think there s a difference between private equity and what it really is and what we understand inside baseball versus what i think obama is doing, is basically saying, he is a rich guy. it s wall street. it s all of that. private equity is one of those words that the average american thinks is a bad thing, like hedge funds. so there s the literal translation. but i think obama is just trying to tar him with rich, disconnected guy to the average guy. i d change that only slightly. if you talk to obama s advisers, and they hold a lot of press calls with reporters to try and guide our thinking about this, the buzz word you hear again and again from them is values. and the argument is this isn t so much a business issue as a values issue. if you look at the ads and the bankruptcies and the layoffs,