When it comes to inflation, the pandemic has bred several narratives around the topic. Guest host and CEO of Alpha Architect Wes Gray sits down with Discipline Fund CIO Cullen Roche to discuss the complex causes of inflation, the impact of stimulus checks on the economy, and real estate as an inflation-hedge option. Roche explains that in a modern monetary system, “the money supply has a very elastic quality to it, where the money supply can grow and shrink as we need it to... so inflation, in the long-term is sort of the tradeoff for having a flexible money supply.” He also believes that there seems to be a certain degree of gaslighting from a lot of people who are trying to argue that fiscal policy did not cause inflation. Find out more on this episode of The Interview. Recorded on November 15, 2021.