Yet the economic backdrop is more complicated than a single upbeat phone call. A strong jobs report signaled resilience, but also masked uneven growth and the looming inflation risks of escalating tariffs. Policymakers at the Federal Reserve now face a delicate balance: acknowledge solid hiring while bracing for potential price pressures driven by trade conflict. The episode is a reminder that markets trade on headlines, but real stability depends on what happens after the cameras turn away—on written agreements, implemented policies, and the patience to see whether promises survive contact with reality.
