In an interview I did on Thursday with Howe Street’s Jim Goddard, we talked about how stock market investors don’t give a hoot in hell about Trump’s tariffs.
The mainstream media may be freaked out, along with every talking head and editorialist. But the stock market has ignored all the heated talk and continued higher. This is in stark contrast to 1929, when every headline concerning the Smoot-Hawley Tariff wrenched stocks one way or the other. Here’s a link to the interview, which offers a possible explanation for investors’ seeming indifference: