Trump was warned of empty shelves and financial turmoil from tariffs and firing Powell. His U-turn pushed stocks higher

[Dulcinea]

(CNN Business) President Donald Trump’s unprecedented tariffs, particularly on China, and recent attacks on Federal Reserve Chair Jerome Powell caused alarm among some of his top advisers and America’s biggest CEOs, who warned of financial chaos and store shelves that could go bare, people familiar with the conversations said.

The warnings — and the markets’ own volatility this week — seemed to have broken through. Trump backed down Tuesday from his threats to try to remove Powell from the job, telling reporters in the Oval Office: “I have no intention of firing him.”

That prompted sighs of relief on Wall Street. A day after markets boomed on comments from Treasury Secretary Scott Bessent that Trump would seek to de-escalate the trade war with China, US markets gained again on Wednesday.

https://www.cnn.com/2025/04/23/business/stock-market-dow-jerome-powell-fed-trump/index.html

[Scrivener7]

1. The market is an ass. Nothing changed and all the pieces of a steep financial contraction are still firmly in place.

Shipping container data is showing a steep drop off in trade. That's the stone in the water. Those ripples are going to be radiating out, contracting our economy in increasingly larger spheres, until the trade war ends.

[sop]

2. Credulous corporate media reports Trump's tariffs scams like Charlie Brown falls for Lucy pulling back the football.

[C_U_L8R]

3. Trump is a business buffoon.

He's never been right about anything.

[bucolic_frolic]

4. I expect shelves will be bare on foreign items within a month

The next harvest of food products from foreign sources will be priced higher. Things like coffee, oil, spices. Already i noticed the fish counter had virtually no foreign fish, meaning mostly Norwegian origin. No cod, halibut, haddock, sardines, steelhead. Only things they had were Alaskan and Atlantic salmon, and lots of shrimp. Maybe that's all seasonal, but I think it's due to tariffs.

He'll raise tariffs gradually to the 145%.