WHY ARE YOU SO AFRAID?” THEN HE GOT UP AND REBUKED THE WINDS AND THE WAVES, AND IT WAS COMPLETELY CALM. 

President Donald Trump offered a more sober assessment of the aftermath of his decision to pause some tariffs for 90 days, while convening his Cabinet to discuss next steps. After taking a victory lap Wednesday, the president on Thursday acknowledged some “transition problems” could be expected – comments that come as the Dow is again tumbling after a historic rally.

“A big day yesterday. There will always be transition difficulty – but in history, it was the biggest day in history, the markets. So we’re very, very happy with the way the country is running.”

“We think we’re in very good shape. We think we’re doing very well. Again, there’ll be a transition cost and transition problems, but in the end, it’s going to be a beautiful thing.”

THE DON AND HIS DISCIPLES: The president praised his Cabinet, whom he has tasked with plans on how to proceed with trade deals and negotiation with China in what is becoming an intensifying trade war with Beijing.

“Everyone at this table is doing an incredible job, by the way, I have to say. Incredible. And the relationships are – it’s like they’re friends, they’re really. The relationships are very strong, really good, really strong. And these meetings are very good,” Trump said. -CNN – Matthew 8:26

NOT GOOD: There’s a lot of focus on how Americans are feeling about the economy right now.

In two words? Not good.

“Consumers have spiralled from anxious to petrified,” Pantheon Macroeconomics analysts write after the latest report from the University of Michigan, which has been tracking this question for decades.

Its index of consumer sentiment fell for a fourth straight month, plunging 11% from March and more than 30% since December, “amid growing worries about trade war developments that have oscillated over the course of the year”, survey director Joanne Hsu reported.

The declines were “pervasive and unanimous, across age, income, education, geographic region, and political affiliation”, she said.

Expectations for the economy in the months ahead have sunk to the lowest level since 1980; worries about unemployment have hit the highest since 2009.

Another number many will be watching worriedly: the expected inflation rate is for 6.7% this year – the highest since 1981.

The US economy runs on consumer spending. So the big question right now is whether the drop in sentiment signals an equally sharp drop in purchases or not. – BBC –

Apr 10, 2025 11:01:58 pm