Lunch with the man who coined TACO

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• 00:01

  NPR. On a summer's day I met Robert Armstrong at a Mexican restaurant in Brooklyn.

• 00:18

  Robert Armstrong writes for the Financial Times.

• 00:22

  He hosts the Unhedged podcast and we were there for one reason.

• 00:28

  Robert is famous for this acronym he coined, TACO.

• 00:33

  Trump Always Chickens Out.

• 00:35

  Al pastor, grilled shrimp and fish.

• 00:40

  I got mushrooms, spinach and veggies.

• 00:43

  So you might remember TACO is basically this idea that Donald Trump threatens super high tariffs and also things like firing the chair of the Federal Reserve.

• 00:54

  But then he backs down on the more extreme policies when the markets freak out.

• 01:00

  And this is one explanation for why the stock market has been reaching new heights,

• 01:10

  despite a chorus of economists and many business leaders saying that President Trump's tariffs will hurt growth.

• 01:18

  This is The Indicator from Planet Money.

• 01:20

  I'm Darien Woods.

• 01:22

  Today on the show, Why is the stock market doing so well?

• 01:26

  Aside from some recent bumps in the road,

• 01:29

  Wall Street seems to be shrugging off chaotic economic policymaking.

• 01:34

  We chew the whole enchilada after the break.

• 01:37

  All right, here are our tacos.

• 01:39

  Thanks very much.

• 01:39

  These look beautiful.

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