El-Sayed Takes on Conservative Critics | Balance of Power 08/05/2026

The show covers a temporary Iran-Oman deal to reopen the Strait of Hormuz, the progressive upset in Michigan's Democratic Senate primary, economist Betsey Stevenson's views on sticky inflation and Fed policy, former Virginia Governor Glenn Youngkin's education tax credit initiative and his bullish take on data center investments, and a political panel discussing midterm implications. - Iran says it reached a deal with Oman to temporarily reopen the Strait of Hormuz for 60 days, with inbound traffic through Iranian waters and outbound through Omani waters. - Progressive candidate Abdul El-Sayed narrowly wins Michigan's Democratic Senate primary, signaling voter frustration and a leftward shift. - Betsey Stevenson argues persistent inflation is eroding purchasing power for workers who stay in their jobs, and she expects the Fed will need to raise rates soon if inflation stays at 2.5-4%. - Glenn Youngkin launches a campaign for governors to opt into the Education Freedom Tax Credit, a federally enabled school choice scholarship program. - Youngkin defends data center expansion, stating contracts provide revenue certainty and the infrastructure is vital for national security and jobs. - The political panel sees the Michigan Senate race as a toss-up with Republican Mike Rogers favored to capitalize on the socialist label against El-Sayed.