Rachel Maddow

Trump's renewed threats to Fed Chairman Jerome Powell's job marked a new source of uncertainty for investors, who said eroding confidence in the independence of the U.S. central bank could deal a significant blow to the value of stocks, bonds, and the dollar.

While Trump made similar threats against the Fed in his prior term, investors now worry that tariffs could rekindle pandemic-era inflation, requiring the central bank to keep rates higher, not lower. Some worry that recent declines in stocks, bonds and the dollar, which has become known as the sell America trade, point to a shift in capital flows that undermines the U.S.

While Trump made similar threats against the Fed in his prior term, investors now worry that tariffs could rekindle pandemic-era inflation, requiring the central bank to keep rates higher, not lower. Some worry that recent declines in stocks, bonds and the dollar, which has become known as the sell America trade, point to a shift in capital flows that undermines the U.S.

's longstanding primacy in global markets. In other words, Donald Trump is not just tanking the financial markets, he's potentially destroying America's economic status in an irreversible way. The other headlines on the right-wing pages of the Wall Street Journal's editorial page right now also sort of tell the story right now. Quote, "'America gets Trump fatigue.'"

's longstanding primacy in global markets. In other words, Donald Trump is not just tanking the financial markets, he's potentially destroying America's economic status in an irreversible way. The other headlines on the right-wing pages of the Wall Street Journal's editorial page right now also sort of tell the story right now. Quote, "'America gets Trump fatigue.'"

This was actually from a few days ago. It's still posted prominently at the opinion page website. America gets Trump fatigue. Also, is Trump a tyrant or a savior? Maybe just a bumbler. That counts as good news for Trump right now in the financial press. The Wall Street Journal also warning that Trump now appears to be possessed of economic plans that are, quote, an even dumber idea than tariffs.

This was actually from a few days ago. It's still posted prominently at the opinion page website. America gets Trump fatigue. Also, is Trump a tyrant or a savior? Maybe just a bumbler. That counts as good news for Trump right now in the financial press. The Wall Street Journal also warning that Trump now appears to be possessed of economic plans that are, quote, an even dumber idea than tariffs.

That's the way they put it in the headline. amid the markets just rejecting everything Trump is doing and sloshing into the muddy depths again today, the automobile company that is owned by the president's top campaign donor, that's doing particularly poorly, even against a market that itself is doing very poorly. Here's the journal again tonight.

That's the way they put it in the headline. amid the markets just rejecting everything Trump is doing and sloshing into the muddy depths again today, the automobile company that is owned by the president's top campaign donor, that's doing particularly poorly, even against a market that itself is doing very poorly. Here's the journal again tonight.

The past few months have been particularly punishing for Tesla, which fell about 5.8% today. Tesla's shares have plummeted 44% in 2025 so far. Today, Tesla dropped outside the largest 10 U.S. companies by market value for the first time since June 2024.

The past few months have been particularly punishing for Tesla, which fell about 5.8% today. Tesla's shares have plummeted 44% in 2025 so far. Today, Tesla dropped outside the largest 10 U.S. companies by market value for the first time since June 2024.

Tesla is grappling with slower sales and a damaged brand, with Chief Executive Elon Musk's prominent role in the Trump administration alienating some customers. company is set to report earnings tomorrow, Tuesday. Analysts are expecting a year-over-year drop in Tesla profits. The Washington Post reports that Elon Musk may be heading toward the end of his time in Washington.

Tesla is grappling with slower sales and a damaged brand, with Chief Executive Elon Musk's prominent role in the Trump administration alienating some customers. company is set to report earnings tomorrow, Tuesday. Analysts are expecting a year-over-year drop in Tesla profits. The Washington Post reports that Elon Musk may be heading toward the end of his time in Washington.

That first corner earnings report that his car company is due to give tomorrow, it does look like it's not going to be good. And that may give him a business excuse that he might be looking for to get out of Washington. After all, his time in Washington kind of started bad and has just been skyrocketing. has been scuttling worse and worse all the time.

That first corner earnings report that his car company is due to give tomorrow, it does look like it's not going to be good. And that may give him a business excuse that he might be looking for to get out of Washington. After all, his time in Washington kind of started bad and has just been skyrocketing. has been scuttling worse and worse all the time.

His Department of Government Efficiency Doge thing is a mix of embarrassment for its errors and its palpable confusion, and horror and anger for how much damage it is doing to the U.S. government, with really nothing positive to show for itself at all. Even if the whole idea of Doge was cutting spending, The Trump administration is spending more on a daily basis than the Biden administration was.

His Department of Government Efficiency Doge thing is a mix of embarrassment for its errors and its palpable confusion, and horror and anger for how much damage it is doing to the U.S. government, with really nothing positive to show for itself at all. Even if the whole idea of Doge was cutting spending, The Trump administration is spending more on a daily basis than the Biden administration was.

So even if the whole good idea of Doge is less government spending, it has absolutely failed at that with Trump spending more than Biden did. Musk's cocky assertions about 150-year-olds getting Social Security were immediately debunked and showed him to just not understand the data he was looking at, which is very embarrassing for a man whose whole brand is Look How Smart I Am.

So even if the whole good idea of Doge is less government spending, it has absolutely failed at that with Trump spending more than Biden did. Musk's cocky assertions about 150-year-olds getting Social Security were immediately debunked and showed him to just not understand the data he was looking at, which is very embarrassing for a man whose whole brand is Look How Smart I Am.

Musk's time in Washington has been marked by White House officials snarking anonymously to the press, like Rolling Stone magazine, about the perception by some in the White House that Mr. Musk appears to be high all the time. Also that he's possibly the most annoying person on the planet. I keep using the word annoying, but the word doesn't do the situation justice.