Yesterday, one of President Trump's economic advisors, Kevin Hassett, the Chairman of the Council of Economic Advisers, gave a press conference at the White House about the President's tax cuts, budget deficits and update on the economy. Here's the full transcript from the press conference: https://www.whitehouse.gov/briefings-statements/press-briefing-principal-deputy-press-secretary-raj-shah-chairman-council-economic-advisers-kevin-hassett-02222018/ During the press conference, Hassett was asked by a reporter about inflation: "Q: Can you address some of the critics who say that the economic policies of this President may lead to greater inflation? MR. HASSETT: Yeah, that’s right — that’s something that people are concerned about. And, certainly, there’s been some inflation data that has caused some pause for markets, some concerns for markets. Our view is that most of our policies are going to create growth for the economy on the supply side, and that when the supply-side growth comes, then that’s actually good for inflation, because if you increase supply, it puts downward pressure on prices. " None of the press covering this press conference mentioned how Hassett stated (incorrectly) that massive supply side economic stimulus and large budget deficits are actually deflationary. Here's one article summarizing the press conference: https://ijr.com/2018/02/1069415-economic-expert-confidant-in-trumps-plan-for-continued-growth/ During the Ronald Reagan administration, supply side economics was used but the US was still a credit nation and it's national debt was orders of magnitude smaller than now. Trump and his economic advisors admitting they are using massive amounts of supply side economic stimulus will most likely result in a lot worse stagflation in the future. Please visit the Wall St for Main St website here: http://www.wallstformainst.com/ Follow Jason Burack on Twitter @JasonEBurack Follow Wall St for Main St on Twitter @WallStforMainSt Commit to tipping us monthly for our hard work creating high level, thought proving content about investing and the economy https://www.patreon.com/wallstformainst Also, please take 5 minutes to leave us a good iTunes review here! We have 33 5 star iTunes reviews and we need to get to our goal of 100 5 star iTunes reviews asap! https://itunes.apple.com/us/podcast/wall-street-for-main-street/id506204437 If you feel like donating fiat via Paypal, Bitcoin, Gold Money, or mailing us some physical gold or silver, Wall St for Main St accepts one time donations on our main website. Wall St for Main St is also available for personalized investor education and consulting! Please email us to learn more about it! If you want to reach us, please email us at: [email protected]