Economist Kevin Hassett stated in an interview that Trump's plans for tax cuts and deregulation are supply-side policies that will bring about 'supply-side growth.' 'When you increase supply, you exert downward pressure on inflation.' Hassett countered the view that rising U.S. Treasury yields and gold prices are due to investors expecting Trump's presidency to lead to inflation, saying: 'In fact, it is higher real interest rates that are driving the current trend. When people expect the Federal Reserve's policy rates to remain around current levels, real interest rates rise because the economy is very strong.'