The Powers That Be: Daily
Where’s My Gary Cohn?
Mar 21, 2025
Bill Cohan, a financial journalist and author of "Dry Powder," joins to tackle Wall Street's bewildering reaction to President Trump’s economic policies. They discuss the chaos sown by protectionism, questioning the absence of major power players. Cohan also reflects on the potential of Scott Bessent as a stabilizing force in these turbulent times. The dialogue reveals the stark disconnect between Wall Street and everyday consumers, while also shedding light on broader market implications amid the political landscape.
28:32
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Quick takeaways
- President Trump's trade policies have led to rising consumer prices and market volatility, creating uncertainty for both investors and everyday shoppers.
- The discussion highlights concerns over the disconnect between immediate cost impacts on consumers and the long-term job recovery from manufacturing sectors.
Deep dives
Impact of Trade Policies on Local Economies
The podcast highlights the immediate effects of President Trump’s trade policies on consumers, particularly those in towns like Terre Haute, Indiana. As 80% of Walmart's goods are imported, customers are likely to face rising prices for everyday items due to tariffs, while any potential job recovery from manufacturing plants reopening could take years. This disconnect shows how consumers prioritize immediate costs over long-term job prospects, emphasizing the struggle many face with rising living expenses. The situation raises questions about the effectiveness of such protectionist measures and their impact on local communities.
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