Up First from NPR Tariff Fears, Trump Budget Plan Passes House, Deportation Ruling
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Apr 11, 2025 Wall Street is reacting to the unpredictable nature of Trump's trade policies, creating economic uncertainty. Meanwhile, House Republicans narrowly pass a controversial budget that could cut vital services like Medicaid. In the legal arena, the Supreme Court mandates the return of a wrongly deported man, stirring discussions about immigration rights. Finally, the podcast dives into the evolving landscape of free speech in America, questioning who truly holds the power to express their views in today's divided society.
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Tariff Changes by President
- President Trump's tariff changes highlight the power of a single person.
- He announced a new tariff via social media, later changing it, marking the sixth time in weeks.
Impact of Tariffs
- The stock market's relief rally was short-lived as analysts realized the new tariffs were still historically high.
- Despite a partial rollback, tariffs remain the highest in over a century, impacting markets and the economy.
Market Uncertainty
- Austin Goolsbee, president of the Federal Reserve Bank of Chicago, called the current market situation the "freak out channel."
- The Fed's role is to provide stability amidst uncertainty, urging calm until the situation improves.