An eventful election year concludes with the curtain soon to rise on a second Trump presidency and the possibility of dramatic changes to how Washington conducts itself.

Kimberley Strassel, the Wall Street Journal’s “Potomac Watch” columnist, joins Hoover senior fellows Niall Ferguson, John Cochrane, and H.R. McMaster for a temperature check on Trump’s comeback: the odds of his ending lawfare and weeding out recalcitrant bureaucracy while also extending his 2017 tax cuts; plus whether Elon Musk’s DOGE initiative will indeed make the federal government more efficient. Later, the fellows offer their choices of 2024’s winners and losers, and what they got right and wrong this past year, as well as something big to expect in 2025. Finally, Sir Niall reflects on the emotional pull of knighthood, having recently been on the kneeling side of his investiture ceremony at Windsor Castle.