Reptile Brain: ???, GS, XXI

This episode explores the volatility of the US market and its relationship with the Trump administration's trade policies. Against the backdrop of fluctuating market trends and conflicting statements from administration officials regarding trade negotiations with China and the potential firing of Fed Chair Jerome Powell, the hosts analyze the situation. More significantly, the discussion delves into the concept of the "Trump put," a market phenomenon where the administration's actions seem to influence market reactions, creating a volatile environment. For instance, the hosts discuss how market rallies seem to embolden the administration to take more aggressive stances on trade, leading to a cyclical pattern. As the discussion pivoted to the impact on businesses, the hosts highlight the challenges faced by companies in making long-term plans due to the unpredictable nature of the administration's policies. In contrast, the high-frequency trading firms are benefiting from this volatility. The episode concludes by examining the various forces vying for the President's attention and their influence on market behavior, highlighting the uncertainty and unpredictability of the current economic climate.