- The Trump administration has talked a lot about the yield on the 10-year Treasury, the benchmark for rates on mortgages and other common types of loans, as the president pledges to bring down borrowing costs for Americans. Data suggests more households are exposed to changes in interest rates than swings in the stock market, but the effect of tariffs on inflation might ultimately be the most impactful economic issue for voters.
Donald Trump loved to brag about the stock market at the start of his first stint in the Oval Office. But as share prices tumble amid his on-again, off-again tariff threats and mounting recession fears, the president has indicated he’s no longer using the S&P 500, which closed in correction territory on Thursday after the index dropped 10% from its high in mid-February, as a yardstick during his second term.
