Kai Risdahl

Dow Industrials inched up 86 points today, two-tenths percent, closed at 49,590.

The Nasdaq added 62 points, a quarter percent, 23,733.

The S&P 500 gained 10 points, two-tenths percent, 69 and 77.

Cognitive dissonance is the phrase you're looking for here.

The market's disconnected from the news.

We've been talking about that, by the way, the turbulence hitting the Fed.

That, along with President Trump's call to limit credit card interest rates to 10%, has been shaking up the big banks, several of which report earnings this week.

Today, JPMorgan Chase dipped 1.4%.

Citigroup down 3%.

Capital One Financial tanked 6.4%.

Goldman Sachs increased about 1.1% on the day.

Bonds, as Wendy said, barely budged.

Go figure this one out.

Price down, yield on the 10-year T-note up, but just a hair, 4.18% on the 10-year.

You're listening to Marketplace.

This is Marketplace.

I'm Kai Risdahl.

Alan Blinder was another one of the people we talked to for that show on central bank independence a little bit more than a year ago.

He's a professor of economics at Princeton.

Also, though, in the mid-1990s, he was the vice chair of the Federal Reserve Board of Governors.