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April 20, 2025, Opinion: "Josh Barro, a contributing Opinion writer, hosted a written online conversation with Lael Brainard, the director of the National Economic Council from 2023 to 2025 and a former vice chair of the Federal Reserve, and Conor Sen, a columnist for Bloomberg Opinion, to discuss the risks to and uncertainty in Donald Trump’s economy. Josh Barro: It’s been more than two weeks since “Liberation Day,” the day Trump announced massive tariffs that sent global financial markets reeling. As it stands now, the S&P 500 is down about 14 percent from its peak in February."