Kate Leinbaugh

Well, the tariffs don't seem to be going great in the sense that he keeps going back and forth on them. And the public is not particularly enthusiastic. Trump's approval rating has dropped. His approval rating on the economy has especially dropped. And the tariffs themselves are extremely unpopular. So it's possible that there is a long-term strategy here that we're just not seeing.

Well, the tariffs don't seem to be going great in the sense that he keeps going back and forth on them. And the public is not particularly enthusiastic. Trump's approval rating has dropped. His approval rating on the economy has especially dropped. And the tariffs themselves are extremely unpopular. So it's possible that there is a long-term strategy here that we're just not seeing.

But in the moment, it doesn't seem to be going great.

But in the moment, it doesn't seem to be going great.

But in the moment, it doesn't seem to be going great.

You hear this a lot from the White House, right? They're saying that like Wall Street is not the economy. Wall Street isn't Main Street. So why is Wall Street freaking out so much? Is it just the expectation that eventually there will be an economic effect to all of these things?

You hear this a lot from the White House, right? They're saying that like Wall Street is not the economy. Wall Street isn't Main Street. So why is Wall Street freaking out so much? Is it just the expectation that eventually there will be an economic effect to all of these things?

You hear this a lot from the White House, right? They're saying that like Wall Street is not the economy. Wall Street isn't Main Street. So why is Wall Street freaking out so much? Is it just the expectation that eventually there will be an economic effect to all of these things?

Or is it actually that for all the sort of noise, the sound and fury coming out of the administration, they just haven't actually done very much? Right.

Or is it actually that for all the sort of noise, the sound and fury coming out of the administration, they just haven't actually done very much? Right.

Or is it actually that for all the sort of noise, the sound and fury coming out of the administration, they just haven't actually done very much? Right.

One area where, again, this isn't, I guess, a concrete statistic, it's more vibes, but one area where we do seem to see a change is in consumer confidence, correct? I feel like even though all of these indicators appear stable, the vibes of the economy are bad. Is that what that means? And what are their consequences to that? Or is it just a vibe?

One area where, again, this isn't, I guess, a concrete statistic, it's more vibes, but one area where we do seem to see a change is in consumer confidence, correct? I feel like even though all of these indicators appear stable, the vibes of the economy are bad. Is that what that means? And what are their consequences to that? Or is it just a vibe?

One area where, again, this isn't, I guess, a concrete statistic, it's more vibes, but one area where we do seem to see a change is in consumer confidence, correct? I feel like even though all of these indicators appear stable, the vibes of the economy are bad. Is that what that means? And what are their consequences to that? Or is it just a vibe?

That's right. It's very much like the Biden economy where the White House was constantly complaining that people didn't appreciate how good it really was on paper.

That's right. It's very much like the Biden economy where the White House was constantly complaining that people didn't appreciate how good it really was on paper.

That's right. It's very much like the Biden economy where the White House was constantly complaining that people didn't appreciate how good it really was on paper.

This has all been very confusing, I feel like, to people on Wall Street because, you know, the IMF meetings are this week. There's a lot of bankers and financial officials from all over the world in town. And they seem very confused that the administration, frankly, is not more sensitive to the markets.

This has all been very confusing, I feel like, to people on Wall Street because, you know, the IMF meetings are this week. There's a lot of bankers and financial officials from all over the world in town. And they seem very confused that the administration, frankly, is not more sensitive to the markets.

This has all been very confusing, I feel like, to people on Wall Street because, you know, the IMF meetings are this week. There's a lot of bankers and financial officials from all over the world in town. And they seem very confused that the administration, frankly, is not more sensitive to the markets.