Ben Stiller

Which is what we would expect from the economic research. And I think that it's important to remember here, Trump ran on a platform of curtailing inflation. He even said he would bring down prices. And crucially, Americans who seem to believe him during the campaign that he would bring down prices or control inflation—

Which is what we would expect from the economic research. And I think that it's important to remember here, Trump ran on a platform of curtailing inflation. He even said he would bring down prices. And crucially, Americans who seem to believe him during the campaign that he would bring down prices or control inflation—

are now saying, we're getting nervous that this is going to mean higher prices, higher inflation.

are now saying, we're getting nervous that this is going to mean higher prices, higher inflation.

That's right. We've seen a real shift in messaging from the president himself and from members of his administration over the past couple of weeks. Trump occasionally would acknowledge on the campaign trail maybe prices would come up temporarily under tariffs. But for the most part, right, what he was talking about was my policies are going to turn around the economy on day one.

That's right. We've seen a real shift in messaging from the president himself and from members of his administration over the past couple of weeks. Trump occasionally would acknowledge on the campaign trail maybe prices would come up temporarily under tariffs. But for the most part, right, what he was talking about was my policies are going to turn around the economy on day one.

But over the last couple of weeks — There's an adjustment. We'll see whether there's pain. — union members of his administration have started talking about a period of adjustment.

But over the last couple of weeks — There's an adjustment. We'll see whether there's pain. — union members of his administration have started talking about a period of adjustment.

— A period of detox, a period of pain.

— A period of detox, a period of pain.

Yet he has notably refused to rule out the possibility of a recession, as have members of his administration. And look, economists would say you should never rule out the possibility of a recession, so that's not inherently unreasonable. But the tone has really shifted here from one of things will turn around on day one to there may be this period of pain, but it will pay off in the long run.

Yet he has notably refused to rule out the possibility of a recession, as have members of his administration. And look, economists would say you should never rule out the possibility of a recession, so that's not inherently unreasonable. But the tone has really shifted here from one of things will turn around on day one to there may be this period of pain, but it will pay off in the long run.

And it's worth highlighting here, if this recession happened, it would be specifically because of his policies, right? It would be his tariffs, his uncertainty that's generating the pullback in activity that leads to the recession. That's something presidents often try to avoid even saying the word recession. And here he's talking about potentially causing one. Right.

And it's worth highlighting here, if this recession happened, it would be specifically because of his policies, right? It would be his tariffs, his uncertainty that's generating the pullback in activity that leads to the recession. That's something presidents often try to avoid even saying the word recession. And here he's talking about potentially causing one. Right.

So, you know, I asked this question to a lot of economists over the past couple of weeks. And people will say, in theory, the idea of short-term pain for long-term gain can be reasonable, right? This is harsh medicine, but we need it. But you better be darn certain. of the long-term gain.

So, you know, I asked this question to a lot of economists over the past couple of weeks. And people will say, in theory, the idea of short-term pain for long-term gain can be reasonable, right? This is harsh medicine, but we need it. But you better be darn certain. of the long-term gain.

And what you hear almost universally from basically every economist, every expert, is that is not what this is. First of all, there's really no need for this harsh medicine right now. The economy is in basically pretty decent shape. But secondly, this specific medicine, this isn't a harsh medicine, a chemotherapy that will generate a cure. This is bloodletting, right?

And what you hear almost universally from basically every economist, every expert, is that is not what this is. First of all, there's really no need for this harsh medicine right now. The economy is in basically pretty decent shape. But secondly, this specific medicine, this isn't a harsh medicine, a chemotherapy that will generate a cure. This is bloodletting, right?

This is a medicine that will actually make the problem worse.

This is a medicine that will actually make the problem worse.