President Donald Trump in recent days has dismissed fears of a recession and brushed aside the stock market sell-off, going so far as to say, “You can’t really watch the stock market.”

Trump’s apparent acknowledgement on Fox News that his policies, including tariffs, could cause a period of “transition” for the economy was also disturbing – since it appeared to indicate that short-term pain is in the offing and that he is prepared for a country weary of high prices for groceries and housing to endure it.