At least, that’s what so many tax-and-spend Progressive-Democrats have been insisting since the Reagan years.

But Fed Chairman Jerome Powell thinks supply-side economics actually is a thing.

Supply-side constraints have gotten worse[.]

He said that in his rationalization for his “watching carefully” indications that households and businesses are expecting sustained price pressures to continue and associated Fed manipulations of interest rates and debt asset purchasing.

Along those lines is this:

[Fed] Officials don’t want to be in a position where they feel compelled to raise rates at a time when they are still fueling monetary stimulus by purchasing assets.

Well, NSS.

Maybe there really is something to this supply-side business.