The Daily
Why a Worrisome Economy Doesn’t Seem to Worry Trump
Mar 21, 2025
Ben Casselman, chief economics correspondent for The New York Times, and Maggie Haberman, White House correspondent, discuss Trump's surprising resilience in the face of economic downturns. They explore how his aggressive policies, particularly tariffs, are affecting consumer confidence and the financial markets. Despite rising inflation and skepticism from economists, Trump remains unapologetic. The conversation sheds light on the complexities of his economic agenda, the shifting public sentiment, and the political ramifications leading into the midterms.
30:15
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Quick takeaways
- Trump's aggressive economic policies have instilled declining consumer confidence and market performance, contradicting initial expectations of prosperity.
- The imposition of sweeping tariffs has increased consumer prices and raised concerns about potential recession, despite Trump's assurances of controlling inflation.
Deep dives
Shifting Economic Sentiment
The initial optimism surrounding President Trump's economic agenda quickly shifted as he implemented his policies, resulting in a notable decline in consumer and business confidence. Initially, many Americans and businesses anticipated prosperity due to promises of lower costs, taxes, and regulations, which caused the stock market to surge. However, as the President's aggressive tactics took effect, such as government layoffs and tariffs, confidence plummeted, leading to a decrease in market performance. These sentiment shifts are particularly concerning because they can create a self-fulfilling prophecy, where declining confidence in the economy results in actual economic downturns.
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