Tracy Alloway

to Canada, which is ironic because you would assume that's the opposite of what Trump intended. And one can only imagine how that supplier actually feels about all of this happening to his business. But the other thing to point out is there were people in that survey who are questioning the fundamental tensions in Trump's policy. So there is, again, this is all anonymous.

You just get a vague idea of what these businesses actually do. But there was one business that basically said, Trump's plan for energy independence in America doesn't work with oil prices at like $50 a barrel. We're seeing oil fall again today. You can't incentivize drillers to build new drills and produce more oil if the price is really low and capital costs remain pretty high.

You just get a vague idea of what these businesses actually do. But there was one business that basically said, Trump's plan for energy independence in America doesn't work with oil prices at like $50 a barrel. We're seeing oil fall again today. You can't incentivize drillers to build new drills and produce more oil if the price is really low and capital costs remain pretty high.

You just get a vague idea of what these businesses actually do. But there was one business that basically said, Trump's plan for energy independence in America doesn't work with oil prices at like $50 a barrel. We're seeing oil fall again today. You can't incentivize drillers to build new drills and produce more oil if the price is really low and capital costs remain pretty high.

It's just not going to work.

It's just not going to work.

It's just not going to work.

Someone has to pay for it to come out of the ground. It's not the government. I'm not sure it's going to be the businesses either.

Someone has to pay for it to come out of the ground. It's not the government. I'm not sure it's going to be the businesses either.

Someone has to pay for it to come out of the ground. It's not the government. I'm not sure it's going to be the businesses either.

Sure. So if you look at a lot of the short term moves today, I mean, oil would be a good one, right? Like oil is the lifeblood of the global economy still. And we're seeing that drop precipitously this morning, which means people expect less economic activity in the future.

Sure. So if you look at a lot of the short term moves today, I mean, oil would be a good one, right? Like oil is the lifeblood of the global economy still. And we're seeing that drop precipitously this morning, which means people expect less economic activity in the future.

Sure. So if you look at a lot of the short term moves today, I mean, oil would be a good one, right? Like oil is the lifeblood of the global economy still. And we're seeing that drop precipitously this morning, which means people expect less economic activity in the future.

I imagine over the next few days, you're going to see some interesting things happen, like more risk premium being built into U.S. treasuries. We call it the term premium, and it basically means investors want more compensation for added uncertainty way out in the future. So again, that idea of long-term uncertainty really being here to stay.

I imagine over the next few days, you're going to see some interesting things happen, like more risk premium being built into U.S. treasuries. We call it the term premium, and it basically means investors want more compensation for added uncertainty way out in the future. So again, that idea of long-term uncertainty really being here to stay.

I imagine over the next few days, you're going to see some interesting things happen, like more risk premium being built into U.S. treasuries. We call it the term premium, and it basically means investors want more compensation for added uncertainty way out in the future. So again, that idea of long-term uncertainty really being here to stay.

And then the other thing I would say is there are a lot of questions swirling around what this means for the Fed, right? for the rest of this year.

And then the other thing I would say is there are a lot of questions swirling around what this means for the Fed, right? for the rest of this year.

And then the other thing I would say is there are a lot of questions swirling around what this means for the Fed, right? for the rest of this year.

Okay, so I am a dispassionate journalist, as you said, which means I have no opinions whatsoever. I am going to quote some opinions from other people.