Wolfers on MSNBC: Here's the most important thing if you look at markets: If you look at every singly day where Trump has backed his own instincts, when he's imposed new tariffs, every single time he's done that, markets have gone down. When he's backed off, every single time he's done that, markets have gone up. When he went ahead with the Big Beautiful Bill, that caused markets to tank. When they backed off a few of the more extreme elements -- straight back up. When he threatened to fire Jay Powell, markets went down. When he backed off, they went back up.
