Tariffs are up, but inflation is still holding steady. Job numbers are down, but the stock market is booming. Meanwhile, President Trump fired the head of the Bureau of Labor Statistics, and he’s pushing Federal Reserve Chair Jerome Powell to cut interest rates (he’s also calling for Fed governor Lisa Cook to resign, but that began after our taping). MSNBC economic analyst Steven Rattner joins Kara to break down the contradictory and confusing economic news of late. Rattner is the chairman and CEO of Willett Advisors, the investment arm for former New York City Mayor Michael Bloomberg’s personal and philanthropic assets, and a contributing opinion writer for The New York Times. He and Kara discuss the impact of Trump’s “economic illiteracy” on the business world; why major price hikes haven’t materialized yet and whether Trump’s tariffs could lead to inflation; why there’s such a disconnect between the economy and the stock market; and whether the AI boom’s potential to increase productivity will keep the economy humming during Trump 2.0. Questions? Comments? Email us at [email protected] or find us on YouTube, Instagram, TikTok, and Bluesky @onwithkaraswisher. Learn more about your ad choices. Visit podcastchoices.com/adchoices

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“What did the council decide on item 42?” — answered with the speaker and the moment.