I was struck by how Michael Gapen, a Morgan Stanley economist, explained his lingering concerns about the tariff fallout on our show yesterday. "I worry about a 'sudden stop' in U.S. trade," he ...

Incredibly enough, the president completely backed off of reciprocal tariffs yesterday. Yes, there are a bunch of caveats--it's just a 90-day pause! It's only for nations that don't retaliate! Etc ...