Remarkably low (considering) and high (since it’s *economic* policy):

Figure 1: Economic Policy Uncertainty (blue, left scale), 7 day centered moving average (bold red, left scale), Geopolitical Risk (green, right scale). Source: policyuncertainty.com, matteoiacoviello.com, and author’s calculations.

To elaborate, Mr. Trump’s profanity-laden Easter Day threat to commit war crimes, without a clear path to reopening the Strait, seems like it would push measured policy uncertainty past 791. The fact it didn’t seems to me a reflection of the jaded nature of news coverage as currently practiced. On the other hand, the spillover to economic policy uncertainty suggests that the erratic nature of war-making policy is taken as implying equally erratic economic policy-making.

It would’ve been interesting to see GPR through Easter Day, but that data will probably not be reported until the day after tomorrow, if the GPR authors follow their usual schedule.