While covering the stock market milestone of the Dow surging past 23,000 on Tuesday, the cast of Wednesday’s NBC Today seemed surprised that the economy could be doing so well despite all the “chaos in Washington” being created by President Trump.

“What’s driving it?” Co-host Matt Lauer wondered at the top of the segment, MSNBC anchor Stephanie Ruhle (formerly of CNBC) appeared on the morning show and explained: “Listen, it’s a big positive, the economy is humming along. It’s about corporate earnings. Corporate America is doing well. Interest rates are low, President Trump has a pro-business agenda.”

However, after that brief note of credit to the President, co-host Savannah Guthrie skeptically followed up: “So often we see what happens in Washington, what happens with politics directly affects the market. So, if the market is strong, does that mean the economy likes President Trump?”

Ruhle discounted that possibility, suggesting the market rally was happening in spite of him:

Well, here’s what’s interesting. People are going, “How come the chaos in Washington is not playing out in the market?” Part of it is because it’s noise. President Trump does say a lot of things that scare us, but he doesn’t necessarily do them. He says things about immigration, about trade, geopolitics, but then his team kind of walks it back. So the market brushes it off unless it actually gets put into play. And it hasn’t so far.

At least NBC is being honest that the President’s policy proposals “scare” them.

The biased discussion was brought to viewers by Jif, Google, and Cheerios.

Here is a full transcript of the October 18 segment: