Hi, Brian Lairer here.

Up next, Brian Lairor Weekend,

three of our favorite segments from the week,

packaged together for you to listen to on the weekend.

So enjoy, and I'll see you back on the radio Monday at 10 a.m.

on WNYC and Gothamist Newsroom.

And as you have no doubt been hearing, President Trump introduced a sweeping round of new tariffs late in the day on Wednesday, April 2nd.

He called it Liberation Day.

So yesterday was the first full day for markets to absorb and respond to these new policies. And what a response it was. Did you look at your retirement accounts?

Reuters is reporting that companies on the S&P 500 lost $2.4 trillion in stock market value yesterday.

Their biggest one day loss in value since March 16th, 2020.

That was back when the COVID-19 pandemic was emerging.

There is a lot to unpack here about how consumers will start to feel and see the impact of these tariffs, recession fears, and how an escalating global trade war stands to isolate the United States, reversing decades of trade policy that arguably go hand-in-hand with our foreign policy.

So to help us with all of that and to answer your questions in mind, I'm joined by Catherine

Ann Edwards, economist and economic policy consultant. Her recent column for Bloomberg is

headlined, the coming U.S. recession will be self-inflicted. So no mincing words on where

she stands on this issue. Catherine, welcome to WNYC. Thank you so much for having me and good morning.

Good morning. And listeners, you know, I know there's been a lot of coverage of this tariff news,

but we're interested in how you are seeing the impact in your own life. Any soon-to-be retirees?

How are you feeling and how are your accounts really doing? How are you absorbing this news?

And is it prompting you to change any of your plans?

What about our small business owners?

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