Source: Cato Institute
by Scott Lincicome
“Recent tariff-related turmoil in the U.S. stock market has motivated several Trump administration officials and many of their online allies to shrug it off as unrepresentative of the ‘real’ U.S. economy. Many have argued, in fact, that the scary sell-off of U.S. stocks, bonds, and dollars … was not just meaningless ‘digital ones and zeroes’ but actually good because ‘Wall Street’ losses meant ‘Main Street’ gains. … the idea that recent market troubles aren’t related to the ‘real’ U.S. economy or, even worse, that what’s good/bad for ‘Wall Street’ is necessarily bad/good for ‘Main Street,’ is absurd. And populists peddling such myths are either clueless about what the stock market is or are simply desperate to avoid admitting that Trump’s tariffs are harming both it and the ‘real’ U.S. economy more broadly.” (04/17/25)
https://www.cato.org/commentary/actually-wall-street-kinda-main-street