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Team 47 with Clay and Buck starts now.

News that is out there, inflation, softening, down to 2.4% the lowest rate in four years. Prices actually went down. Point 1% since the last reading.

Trump has raised tariffs to 145% on China. And we have a budget resolution that has passed the House 216 to 214, which will lead to a

tax cut. The big beautiful bill, as Trump is calling it, also will add more for border security,

many different moving parts there. Stock market back down today after one of the biggest days in the history of stock market rallies yesterday.

We will dive into that a bit more, but we bring on now.

We've been decided Buck and I did a while back as the tariff process has played itself out.

Let's bring on people with strong economic backgrounds to talk

with all of you. Yesterday we had Ard Laffer on at this same time. Today we have on Stephen Moore,

President Trump's former senior economic advisor. He is right now, the co-founder of Committee to

Unleash Prosperity.

And we bring him in now.

And Stephen, I appreciate you making the time for us.

You've been on.

It's been a couple of years since you were on with us last.

What do you think from an economic perspective, the millions of people listening to us right now should know about what President Trump is doing

and its impact.

Well, Clay, thanks so much for having me.

And by the way, how cool is that you?

I don't laugh around the most famous economists in the world yesterday.

Not bad.

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