(NewsNation) — A heated exchange between President Donald Trump and Ukrainian President Volodymyr Zelenskyy had the stock market slumping before rebounding after statements indicating both leaders were still open to finding a way to a peace deal.
Financial adviser Tracy Byrnes joined NewsNation to discuss how Trump’s rapid policy announcements and shifting positions have affected the financial world.
“This is the story of the first two months of the year,” Byrnes said. “He drops a bomb, everyone’s like, what? Then we settle in, and we’re like, all right, it’s going to be okay.”
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It’s a pattern she expects to continue as the administration rolls out more concrete plans to achieve goals like cutting taxes and negotiating tariffs.
The economy may also prove to be a challenge for Trump, with one recent poll showing that people’s incomes are not keeping up with inflation.
That could hurt Trump politically, even though some wealthy Americans have been able to withstand rising prices.
“[It] makes getting inflation down even harder because you have people who are willing to pay these ridiculous prices,” Byrnes said.
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Tariffs are likely to add to that pain, with companies likely to pass the increased costs onto Americans.
“[When] these companies start to get hit hard, they will probably pass these costs on, and you will have somebody out there willing to pay,” she said. “That’s what hurts the little guy.”
