Market news: Trump is preparing to appoint Hassett to head the National Economic Council.
The economist Kevin Hassett said in an interview that Trump's plans for tax cuts and deregulation are supply-side policies that would lead to "supply-side growth," and that "when you increase supply, you put downward pressure on inflation." Hassett rejected the idea that the rise in U.S. Treasury yields and gold prices was due to investors' expectations that Trump's presidency would lead to inflation, saying: "It's actually higher real interest rates that are driving what's going on now, when pe...