WSJ Opinion: Free Expression

With Donald Trump’s tariffs heading towards a Supreme Court showdown, his efforts to reshape the Federal Reserve in his own image intensifying, and another Washington battle under way over funding the federal government, the U.S. economy and markets face new uncertainties entering the fall. On this episode of Free Expression, Bank of America CEO Brian Moynihan tells Gerry Baker that despite the uncertainty, he sees no U.S. recession in the near future and thinks inflation remains contained. But he emphasizes the importance of Fed independence and offers his thoughts on tariffs and the growing fiscal crisis, and on the challenges and opportunities posed by crypto currency and artificial intelligence to the banking system. Learn more about your ad choices. Visit megaphone.fm/adchoices

With emerging signs that Donald Trump's revolutionary tariff regime may be starting to take a toll on U.S. economic prospects, what's the outlook for the immediate future? And how is the latest wave of technological change, allied with a new strand of government activism, going to change longer term economic performance? On this episode of the Free Expression podcast, Gerry Baker speaks with financier and philanthropist Glenn Hutchins about what the recent jobs and inflation numbers might mean for the economy, what the Federal Reserve should do in response, what the widespread adoption of artificial intelligence and the renewed focus on national priorities will mean. And as a long-standing supporter of Democratic candidates and causes, he offers a few thoughts on the future of the Democratic party. Learn more about your ad choices. Visit megaphone.fm/adchoices

Liberal democracy is under siege. Domestically, popular discontent with civic, cultural and political institutions is tempting voters in many democracies towards more authoritarian leadership. Globally, the axis of autocracies in Russia and China threaten to upend weaker democratic neighbors. Donald Trump’s trade policies and diplomacy are weakening alliances and undermining faith in "the west.” Is democracy in retreat? Does it matter? On this episode of Free Expression, Gerry Baker and former British prime minister Rishi Sunak discuss the state of democracy in the U.K. and the U.S, how liberal democracy can be strengthened, and how rapid technological change is affecting economics and politics. And the U.K.'s last Conservative prime minister offers his thoughts on the state of conservatism on both sides of the Atlantic. Learn more about your ad choices. Visit megaphone.fm/adchoices

While Israel continues to achieve great military successes against Hamas, Hezbollah and most recently Iran in its almost two year campaign, the humanitarian consequences of the conflict in Gaza are growing worse. There is growing evidence of famine throughout Gaza, caused by disruptions in the delivery of aid, and both sides are being accused of causing the crisis. International pressure on Israel is mounting. Last week, Emmanuel Macron of France announced he would recognize a Palestinian state and Keir Starmer, the British prime minister, has said he could do the same in September. So can Israel effectively finish its war in the face of the human cost and growing international isolation? On this episode of Free Expression, Gerry Baker speaks with Israeli journalist and commentator Nadav Eyal about what it could take to settle the war between Israel and Hamas, the international reaction to the crisis, and how Israel can ultimately guarantee its own security and very existence. Learn more about your ad choices. Visit megaphone.fm/adchoices

Donald Trump’s control of the Republican Party is almost complete. But there are still some members pushing back against the president. Sen. Lisa Murkowski is a persistent dissident. She was one of the few Senators to vote against a recent package of cuts that had already been approved in a spending bill. She has also voted against and expressed reservations about a number of Donald Trump’s cabinet members. She voted to convict him on impeachment charges after the January 6 2021 Capitol Hill riots. On this episode of Free Expression, Gerry Baker speaks with Murkowski about her recent memoir, “Far From Home,” her concerns about HHS Secretary Robert F. Kennedy Jr.’s stances on vaccines in relation to the recent measles outbreak in Texas, and why she’s “not losing sleep” over the direction of the Republican party. Learn more about your ad choices. Visit megaphone.fm/adchoices

The hottest properties in the Democratic Party at the moment are self-described democratic socialists. Zohran Mamdani won the party’s nomination for New York City mayor last month while Alexandria Ocasio-Cortez and Bernie Sanders (who’s not even a Democrat) are in the forefront of the party’s campaigning against President Donald Trump. The trend alarms the party’s leadership and mainstream establishment, who see it as a quick route to electoral oblivion. Can the next wave of Democratic candidates for local and national elections appeal to the middle, or is the distaste for President Trump making the party hostage to its more radical elements? On this episode of Free Expression, former Commerce Secretary and White House Chief of Staff William Daley tells Gerry Baker about his concerns for the direction of the Democratic party, what it can learn from the mistake from the Tea Party movement of the GOP, and who he thinks are the party’s most electable candidates for president. Learn more about your ad choices. Visit megaphone.fm/adchoices

Donald Trump and the Republicans in Congress set a July 4th deadline to pass a spending package the President and others gave the moniker the “One Big, Beautiful Bill.” Getting the measure to the president’s desk hasn’t been plain sailing - the Senate version passed this week only with a tie-breaking vote by Vice President JD Vance. Now fiscal conservatives in the House are battling over some of the details, but it seems likely to become law soon enough. On this episode of Free Expression, Gerry Baker speaks with economist and former director of the Congressional Budget Office Douglas Holtz-Eakin about the bill’s likely positive impact on the economy as well as the nation's dire fiscal situation, how the nation’s budget challenges still require reform of entitlements that seems politically elusive, and what this signature piece of domestic policy says about the direction of Trump’s Republican Party. Learn more about your ad choices. Visit megaphone.fm/adchoices

A shockwave rippled through New York politics this week as little-known 33-year old assemblyman Zohran Mamdani toppled Andrew Cuomo, whose political lineage could not compete with his scandal-ridden tenure as governor, to win the Democratic primary nomination for the city’s mayoral election. Mamdani mobilized a coalition of young voters, ethnic minorities and others behind a hard-left platform that called for even higher taxes than New Yorkers already pay and expanded government programs. He has voiced strong support for Palestinian causes and has called to “globalize the intifada” whatever that means. Meanwhile, current mayor Eric Adams plans to run as an independent as a way to head off the new young radical’s path to Gracie Mansion. What does Mamdani’s stunning success say about Democrats - in New York and in the country as a whole. On this episode of Free Expression, Gerry Baker and political analyst Heather Mac Donald look at some of Mamdani’s more radical views, break down just who voted for each candidate, and what the latest far left Democratic plans for a major city may do to New York’s economy and financial sector. Learn more about your ad choices. Visit megaphone.fm/adchoices

Israel’s air assault on the heart of Iran’s nuclear program has shifted the balance of power in the Middle East. Iran’s bid for regional hegemony and the survival of the Islamic regime itself is now under serious threat. But can Israel finish the job on its own or does it need the U.S. to tighten the vise on Teheran? While Donald Trump still says he wants to see a deal made, his administration is also weighing whether to join Israel’s assault. As the conflict continues, who will eventually define the future of the Middle East? On this episode of Free Expression, Middle East policy analyst Marc Reuel Gerecht tells Gerry Baker how much more assistance the U.S. should provide Israel, how Russia and China are reacting to the conflict, and how Iran’s future might look. Learn more about your ad choices. Visit megaphone.fm/adchoices

Few people have lived the entertainment world like Barry Diller. Over 60 years in the business, he has run movie studios and TV networks and most recently built a portfolio of digital media properties. In the process he has seen the sector move from a studio-and producer-driven model to the increasingly tech-dominated business it is today. On this episode of Free Expression, Diller speaks with Gerry Baker about his life in the entertainment business, how modern tech domination has diminished the value of creativity and why Hollywood went woke and progressive. Discussing his newly published memoir, “Who Knew?,” he also reveals what he calls the “sexual nuance” of being gay while being married to a woman, his wife of 25 years, the fashion designer, Diane Von Furstenberg. Learn more about your ad choices. Visit megaphone.fm/adchoices

The House of Representatives has passed Donald Trump’s “Big Beautiful Bill” and now the Senate is pondering its version. Chief among the concerns for some senators is how much it will add to the federal debt. Already at $36 trillion, how much is too much? Are we on the brink of a major fiscal crisis? On this episode of Free Expression, Bridgewater founder and investor Ray Dalio talks to Gerry Baker about the risks of a debt calamity if bond markets take fright. They also talk about his new book, “How Countries Go Broke: The Big Cycle”, which chronicles the history of governments with unsustainable debt and offers his “3%”, three-part solution for ensuring fiscal health. Learn more about your ad choices. Visit megaphone.fm/adchoices

Improbable as it would have once seemed, Donald Trump is the dominant political figure of the first quarter of the 21st century, creating a populist movement not seen in recent American history. But is he really a conservative, and what are the defining characteristics of the way he has bent the Republican party to his will? On this episode of Free Expression, former Speaker of the House Newt Gingrich talks to Gerry Baker about his new book, “Trump’s Triumph: America’s Greatest Comeback,” why the lack of coverage of Joe Biden’s cognitive decline is one of history’s greatest scandals, and why the courts should not have the power and authority over Donald Trump’s executive power. Learn more about your ad choices. Visit megaphone.fm/adchoices

Actor Kelsey Grammer is known for his many acting roles, most notably as radio psychiatrist Frasier Crane in the long running TV sitcom “Frasier.” But behind the comic mask lies a lifelong story of pain and grief. Fifty years ago, his beloved sister Karen was abducted, raped and murdered. In a new memoir, “Karen: A Brother Remembers,” he writes of how the tragedy shaped his own life. On this episode of Free Expression, Grammer speaks with Gerry Baker about his sister as a source of joy in his life, his spiritual reunion with her and his evolving Christian faith. A rare conservative in Hollywood, Grammer also discussed the current political climate in America and how the pursuit of individual freedom remains his guiding philosophy. Learn more about your ad choices. Visit megaphone.fm/adchoices

This week, Donald Trump celebrated a “reset” with China, lowering tariffs and signaling a major thaw in the trade war between the two countries. Meanwhile, as the President traveled to the Middle East, House Republicans announced their framework for the “big, beautiful” spending bill looking to make changes to Medicaid and reduce the budget deficit. Where does Donald Trump's wider economic agenda now sit? On this episode of Free Expression, Harvard economics professor Greg Mankiw tells Gerry Baker why the President has to stop thinking the U.S. is an economic “loser,” and how the U.S. under Trump is starting take on some of the appearances of an unstable emerging market and gives his perspective on academic freedom on the Harvard campus and elsewhere after the administration's unprecedented campaign against institutions of higher learning. Learn more about your ad choices. Visit megaphone.fm/adchoices

The conclave of Cardinals to choose the 267th pope, bishop of Rome and leader of the Catholic Church opened Wednesday at the Vatican. Whoever is chosen by the 133 voting Cardinals from all over the world will follow Pope Francis, the first Jesuit Pope who died last month. What kind of leader are the cardinals looking for and where is the church headed? On this episode of Free Expression, theologian, author and commentator George Weigel talks to Gerry Baker about what goes on in the conclave, why he thinks the Cardinals will choose a different character than the autocratic Francis, and how the growth of the Catholic faithful outside its traditional heartland of Europe could be changing the church. Learn more about your ad choices. Visit megaphone.fm/adchoices

It’s been a month since Donald Trump celebrated his “Liberation Day,” announcing a wide range of what he called reciprocal tariffs on a number of countries, with China facing the steepest. Since then matters have been on a roller coaster ride as the President first fiercely defended the plan and then paused it for most countries except China. While fears about the impact on the U.S. and the world have escalated, the economy seems to be toddling along. But great uncertainty remains - not just on tariffs but on the scope and scale of Republican tax plans and the budget. On this episode of Free Expression, Director of the National Economic Council of the United States Kevin Hassett discusses the latest job numbers to come out, how the tariffs began as a place of negotiation, and how the tax plan is progressing through Congress. Learn more about your ad choices. Visit megaphone.fm/adchoices

President Donald Trump's multi-front attempt to remake America and the world is meeting with mixed success. His administration has ended the crisis at the border and is aggressively moving against illegal migrants. But elsewhere the picture is murky. The war in Ukraine rages on, the Middle East continues unsettled and above all, his restless back-and-forth on tariffs and international economics is causing profound damage to faith in U.S. economic stability. And some of his actions suggest an authoritarian style inimical to American values. On this episode of Free Expression, Gerry Baker sits down with Admiral William McRaven, former head of US special operations, to discuss Trump's leadership. McRaven draws on the themes of his new book, "Conquering Crisis: 10 Lessons to Learn Before You Need Them," to assess the first 100 days of Trump's second term, but also the wider challenges of leadership in crisis. Learn more about your ad choices. Visit megaphone.fm/adchoices

As the breach between the U.S. and its allies widens following President Trump's Oval Office bust-up with Ukrainian president Volodymyr Zelensky and his imposition of tariffs on Canada and Mexico, what can history tell us about today's tumult? On this episode of Free Expression, deputy national security advisor to Trump in his first term Nadia Schadlow shares with Gerry Baker the parallels she sees between Donald Trump and Richard Nixon as both faced a tense and rapidly changing international climate. They discuss how Trump and Nixon both believed in peace through strength, in the importance of a global balance of power and in the opportunity provided by negotiation - sometimes with unexpected partners. Learn more about your ad choices. Visit megaphone.fm/adchoices

During the week that marked the three-year anniversary of the conflict between Russia and Ukraine, Donald Trump met with a flurry of world leaders to discuss ending the war, as well as announcing a potential commercial deal with Ukraine over mineral resources. Meanwhile, the U.S. voted against a U.N. resolution condemning Moscow’s actions even as Ukrainian forces fought on to expel Russians from their territory. So what does all the activity mean for the future of the conflict and is there any end in sight? On this episode of Free Expression, military historian and analyst Fred Kagan tells Gerry Baker why Vladimir Putin is the only world leader who doesn’t want the war to end, reviews the latest conditions on the battlefield, and argues the Trump administration should not be willing to give concessions to Russia in the name of peace nor give up on NATO. Learn more about your ad choices. Visit megaphone.fm/adchoices

Has the U.S. flipped sides in the great strategic contest of the last century? With his secretary of state calling for a new "partnership" with Russia, his vice president decrying Western Europe's political condition and the president himself seemingly blaming Ukraine for the war that started on its territory three years ago, Donald Trump seems to be executing one of the most dramatic shifts in American foreign policy. Is this the end of the transatlantic alliance and what might it mean for America's larger strategic goals? On this episode of Free Expression, international relations scholar Hal Brands and author of a new book. "The Eurasian Century", tells Gerry Baker how a negotiated settlement between Russia and Ukraine was always going to be a goal for the United States no matter who won the 2024 election, how Trump may be trying to prise Russia away from China and why the U.S. still needs NATO and European allies. Learn more about your ad choices. Visit megaphone.fm/adchoices