NPR's Steve Inskeep speaks with David Wessel, director of the Hutchins Center at the Brookings Institution, about America's federal debt, which is at $36 trillion and growing.

President Trump's latest tariffs have sent markets downward, and consumer confidence is low. Steve Inskeep speaks with David Wessel of the Brookings Institution about the direction of the economy.

NPR talks to David Wessel, director of the Hutchins Center at the Brookings Institution, about what's driving the recent market surge and whether high valuations signal strength or speculation.

NPR's Steve Inskeep speaks with David Wessel, director of the Hutchins Center at the Brookings Institution, about America's federal debt, which is at $36 trillion and growing.

David Wessel is director of the Hutchins Center at the Brookings Institution, and he's tracking that. David, good morning. DAVID WESSEL: Good morning, Steve.

NPR talks to David Wessel, director of the Hutchins Center at the Brookings Institution, about what's driving the recent market surge and whether high valuations signal strength or speculation.

President Trump's latest tariffs have sent markets downward, and consumer confidence is low. Steve Inskeep speaks with David Wessel of the Brookings Institution about the direction of the economy.

NPR talks to David Wessel, director of the Hutchins Center at the Brookings Institution, about what's driving the recent market surge and whether high valuations signal strength or speculation.