Trumponomics

One month in, Wall Street’s view on Donald Trump is evolving. Guest host Nancy Cook, Bloomberg’s senior national political correspondent, speaks with chief Wall Street correspondent Sridhar Natarajan and finance reporter Hannah Levitt about how finance executives are feeling now. “There is still broadly this palpable optimism,” says Levitt, “but it’s a bit more caveated.” Levitt and Natarajan explain those caveats, discussing what the likelihood of higher volatility throughout Trump’s second term means for the bottom lines of big Wall Street firms and unpack why a deregulatory agenda might have unforeseen consequences. See omnystudio.com/listener for privacy information.

On the campaign trail, Donald Trump promised to end Russia’s war on Ukraine in a day. Weeks into his presidency, that hasn’t happened. Now his decision to start negotiations with Kremlin leader Vladimir Putin while demanding Europe bear the brunt of future aid to Ukraine has been met with shock—but not surprise. In a bonus episode of Trumponomics, recorded at the Munich Security Conference in Germany, we discuss the cost of Trump’s about-face on American commitments and whether a continent beset by fiscal constraints and political division can go it alone. Alberto Nardelli, Bloomberg’s correspondent-at-large for Europe, and Antonio Barroso, senior geoeconomics analyst for Europe at Bloomberg Economics join host Stephanie Flanders. See omnystudio.com/listener for privacy information.

Bill Dudley, a Bloomberg Opinion columnist and former New York Federal Reserve Bank president, and Bloomberg Economics Chief US Economist Anna Wong join Stephanie Flanders to discuss the Treasury secretary’s plan to reduce the deficit and its collision with economic reality. See omnystudio.com/listener for privacy information.

In a live taping before an audience in New York, host Stephanie Flanders was joined by Bloomberg political correspondent Nancy Cook and Bloomberg Opinion Senior Executive Editor Tim O’Brien to unpack the way in which US President Donald Trump is making tariff decisions during his chaotic first few weeks in office, whether he has a plan and who his most influential advisers might be. For the second part of the conversation, Bloomberg TV anchor Katie Greifeld and senior editor Ed Harrison discuss how Trump’s economic policy is causing uncertainty among business leaders and why a key metric to look at is the 10-year Treasury rate. See omnystudio.com/listener for privacy information.

This week, we ask what it is exactly US President Donald Trump may be trying to accomplish with his tariff threats and trade wars. Stephanie Flanders, Bloomberg’s head of government and economics, is joined by Anna Wong, chief US economist at Bloomberg Economics, and Bloomberg reporter Shawn Donnan, who covers economics and trade policy, to discuss. See omnystudio.com/listener for privacy information.

On this week’s Trumponomics, we look at how Trump's immigration policies will affect the nation’s economy, and especially whether it will be good or bad for American workers. Oren Cass, joins host Stephanie Flanders and Bloomberg Opinion Senior Executive Editor Tim O’Brien. Cass, formerly with the right-leaning Manhattan Institute and founder of the conservative think-thank American Compass, is author of The Once and Future Worker: A Vision for the Renewal of Work in America. See omnystudio.com/listener for privacy information.

The World Economic Forum in Davos, Switzerland, once a hub of globalism and progressive ideals, is now seeing a shift towards embracing the ideology of US President Donald Trump. With CEOs and other business leaders trying to get in line with his views, many are abandoning previous initiatives around equality, diversity, free trade and climate change. On this week’s episode of Trumponomics, we discuss how and why so many of the global elite at Davos are pressing “unsubscribe” on their previous commitments in favor of (like Trump’s book) the art of dealing with the new White House occupant. In a live taping before an audience at Bloomberg House in Davos, host Stephanie Flanders speaks with Bloomberg News Editor in Chief John Micklethwait, Washington reporter Jenny Leonard and Bloomberg Businessweek Editor Brad Stone. They unpack how the world order has already changed in anticipation of Trump’s return, what the Republican’s style of transactionalism will look like for foreign policy, and what will be the fallout for the global economy and trade policy. See omnystudio.com/listener for privacy information.

Bond market investors have been extremely busy so far this year, pushing up the cost of government borrowing—especially in the US but also around the world. On this, the inaugural episode of Trumponomics, we look at whether recent moves in the bond market are worrying the incoming Trump administration, what effect they will have on a narrowly-split Congress and whether concerns on Capitol Hill may put some of Donald Trump’s agenda at risk. Host Stephanie Flanders, Bloomberg’s head of government and economics, is joined by Anna Wong, chief US economist at Bloomberg Economics (she’s worked at the Federal Reserve and in the first Trump administration), and Bloomberg managing editor for US economic policy Kate Davidson. See omnystudio.com/listener for privacy information.

To help you plan for Trump's singular approach to economics, Bloomberg presents Trumponomics, a weekly podcast focused on the Trump administration's economic policies and plans. Editorial head of government and economics Stephanie Flanders will be joined each week by reporters in Washington D.C. and Wall Street to examine how Trump's policies are shaping the global economy and what on earth is going to happen next. New episodes on Wednesdays. See omnystudio.com/listener for privacy information.

We're back with a bonus episode of Voternomics for your holiday listening. We're tackling the question: what markets might be getting wrong about the President Elect's return to the White House? Stephanie speaks with Anna Wong, Chief US Economist for Bloomberg Economics and Josh Green, National Correspondent at Bloomberg Businessweek. See omnystudio.com/listener for privacy information.

On our final episode of Voternomics, Peter Turchin, author of End Times: Elites, Counter-Elites and the Path of Political Disintegration, joins Bloomberg head of government and economics coverage Stephanie Flanders, The Readout newsletter’s Allegra Stratton and Bloomberg Opinion columnist Adrian Wooldridge with some sobering predictions for America’s future. Flanders, Stratton and Wooldridge also reflect on the major themes observed during this year of elections, including how it was a bad year for incumbents, how inflation and the legacy of the Covid pandemic factored into voting decisions, whether technology and artificial intelligence were major factors in campaign success or failures, and whether in the end, during a year when more than 40 national elections took place, democracy prevailed. See omnystudio.com/listener for privacy information.

Touted as a potential prime minister not long ago, Chancellor of the Exchequer Rishi Sunak's star has been falling fast of late. Some of the blame can be placed on inflation hovering at a 40-year high and embarrassing headlines about his rich wife's taxes. To resurrect his political career, Sunak may want to help Britons out of their financial funk while persuading them he's not disastrously out of touch. Sunak tells Stephanie how the UK government is trying to alleviate the pain inflicted by 9% inflation. It's providing about £350 ($431) in energy bill discounts to families while also providing families with about £100 in relief by cutting fuel duties. Still, the efforts may be too little too late, as the average family is seeing a £2,100 increase in its cost of living, according to Bloomberg estimates. It didn't help matters that Sunak's wife, Akshata Murthy, daughter of an Indian billionaire, was forgoing paying UK taxes on her overseas earnings, which while technically legal is arguably terrible politics. "I do think part of being a good husband is not presuming to dictate to my wife what to do, because she's an independent person and I support her decisions,'' Sunak says. Also, in a discussion from Bloomberg's New Economy Gateway Latin America forum in Panama City, Panama, United Nations High Commissioner for Human Rights Michelle Bachelet speaks about troubling abuses in Venezuela, El Salvador, Nicaragua and Haiti, as well as efforts to hold Vladimir Putin accountable for war crimes in Ukraine. Finally, she calls the potential end of federal abortion rights in the US a "massive setback for women's rights." See omnystudio.com/listener for privacy information.

The old axiom about the sins of the father being visited upon their children got a shocking rebuttal this week, when Ferdinand Marcos Jr. won a landslide victory in the Philippines's presidential election. Whether Marcos will embrace progressive economic and social values or take after his father, the late dictator and kleptocrat Ferdinand Marcos, is anyone's guess. Singapore-based Bloomberg Opinion columnist Daniel Moss explains how the younger Marcos deftly sidestepped press interviews and avoided revealing any policy preferences during his campaign. That ambiguity and a strong social media strategy helped to "if not erase, then dilute the memory of his father's period for a huge chunk of voters,'' Moss tells host Stephanie Flanders. Marcos comes into power at a precarious time. The Philippine economy has been far more robust than those of its neighbors, but its embrace of Chinese investment could backfire if China's economy continues to decline. In a second segment, Bloomberg's chief U.S. economist, Anna Wong, explains how China's slowdown might provide at least a little relief to the US's inflation woes. And, Rome-based economy reporter Alessandra Migliaccio takes listeners to bucolic Trevinano, Italy, where local leaders hope an injection of money from the European Union will help turn the hamlet into a center for tourists and artisans and stem years of depopulation. See omnystudio.com/listener for privacy information.

It’s been a long time since anyone in America or Europe had to think seriously about inflation. But the highest U.S. numbers since 2009 have rattled financial markets and critics of President Joe Biden are warning that his big spending could trigger a full-blown 70s-style price spiral. Bloomberg Senior Asia Economy Correspondent Enda Curran reports from Hong Kong on the price pressures facing Asian exporters, and how they’re affecting what consumers pay in American stores. Then host Stephanie Flanders talks to Jason Thomas, head of Global Research at the Carlyle Group, who says he believes that reopening the U.S. economy will help push inflation back down again—and that the long-term forces which have kept a lid on prices are still in place. With U.S. gas stations across the Southeast running short of supply and drivers sitting in line to fill their tanks, you would have been forgiven for thinking the 70s had already returned. Though the Colonial Pipeline is now back up and running, Chief Energy Correspondent Javier Blas explains how a cyberattack on America’s biggest fuel conduit could do such damage, and why U.S. energy companies are scrambling to shore up their defenses. See omnystudio.com/listener for privacy information.

The world’s biggest businesses are massive, spanning countries and continents. Now they're getting even larger, and that may not be a good thing. In the past few decades alone, the largest 50 firms have tripled their profit. Amazon, Apple, Facebook, Microsoft and Google together make more money in a week than McDonald's makes in an entire year. On this week’s podcast, host Stephanie Flanders talks with Bloomberg’s Chief Economist Tom Orlik about what the rise of these mega-companies could mean for the global economy. London School of Economics Professor Philippe Aghion joins Flanders to explain why the rise of big tech, once great for innovation and growth, is no longer. Aghion also discusses his plan for getting the very best out of capitalists. And French economy reporter William Horobin explains why the campaign to extract tax from the tech giants just got a lot more interesting. See omnystudio.com/listener for privacy information.

More than 50 years ago, the public and private sectors united to bring men to the moon and back. As the world begins to look at how it can recover from the Covid-19, what lessons can the original moonshot have for the modern challenges facing governments and industry today? In this week’s episode, host Stephanie Flanders talks with Mariana Mazzucato, author and professor in Economics of Innovation and Public Value at University College London. Find out how similar partnerships could help solve intractable problems such as global warming and pandemics, why doing what sounds obvious simply isn’t happening and what she says U.S. President Joe Biden’s administration needs to know. See omnystudio.com/listener for privacy information.

As the world enters a second year of Covid-19, we begin our new season of Stephanomics with perspectives on the pandemic’s fallout from Bloomberg correspondents all over the world. From cross-border jealousy and government spending battles to desolate beaches and unexpected theater companions, Andrew Rosati in Brazil, Shelly Hagan in Canada, Kamlesh Bhuckory in Mauritius and Anya Andrianova in Russia tell us how the global health catastrophe has changed local economies. Host Stephanie Flanders then talks with Bloomberg Chief Energy Correspondent Javier Blas about why one stuck container ship could cause so much disruption to global trade, and how long we may be living with the after-effects of the resulting traffic jam. Flanders also speaks to Dr. Dambisa Moyo—author, economist and board member of Chevron and 3M—about what the post-pandemic future may hold for workers. See omnystudio.com/listener for privacy information.

More than 150 years after the end of slavery in the U.S., the net worth of a typical white family is nearly six times greater than that of the average Black family. Season 3 of The Pay Check digs into into how we got to where we are today and what can be done to narrow the yawning racial wealth gap in the U.S. Jackie Simmons and Rebecca Greenfield co-host the season, which kicks off with a personal story about land Jackie's family acquired some time after slavery that they're on the verge of losing. From there the series explores all the ways the wealth gaps manifests and the radical solutions, like affirmative action, quotas, and reparations, that can potentially lead to greater equality. See omnystudio.com/listener for privacy information.

The U.S. doesn’t just have a new president this week. The world’s largest economy is also getting a new Treasury Secretary, albeit a familiar face, in Janet Yellen. Host Stephanie Flanders talks with Bloomberg’s U.S. Treasury reporter Chris Condon, who listened in to Yellen’s confirmation hearing for a sneak preview of what her reign at 1500 Pennsylvania Avenue might look like. Across the Pacific in Hong Kong, Senior Asia Economy Correspondent Enda Curran goes in search of an unexpectedly elusive commodity—shipping containers. The global shipping industry is struggling to deliver what the world wants to buy, leaving exporters and importers everywhere feeling the pain and awakening fears that these supply chain issues could stop the economic recovery in its tracks. See omnystudio.com/listener for privacy information.

Bloomberg's Travel Genius podcast is back! After clocking another hundred-thousand miles in the sky, hosts Nikki Ekstein and Mark Ellwood have a whole new series of flight hacking, restaurant sleuthing, and hotel booking tips to inspire your own getaways—along with a who's who roster of itinerant pros ready to spill their own travel secrets. From a special episode on Disney to a master class on packing, we'll go high, low, east, west, and everywhere in between. The new season starts Nov. 6. See omnystudio.com/listener for privacy information.