Swamp Notes Trump’s next 100 days
May 24, 2025
Katie Martin, a markets columnist and co-host of the Unhedged podcast, joins Chris Giles, a prominent economics commentator, to dissect Trump's upcoming political landscape. They analyze the recovery from market shocks and the implications of looming tariffs. The duo discusses the tension between Trump's administration and the Federal Reserve along with inflation's potential impact on his voter base. Additionally, they touch on personal escapes like gardening and football, providing a lighthearted contrast to the serious political discourse.
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Chaos Defines Trump’s Early Term
- The first few months of Trump's second term were chaotic and unpredictable beyond expectations.
- Investors and analysts stumbled into challenges like hitting rakes, symbolizing unexpected policy shocks and volatility.
Medieval Court Politics Today
- Trump's administration operates like a medieval court with power struggles to access him rather than traditional checks and balances.
- Congress has been notably feeble, hardly intervening in significant policy decisions.
Constitutional Risk to Fed Chair
- Officials protected by Congress laws may actually be fired by the president if the Supreme Court rules these laws unconstitutional.
- This poses a constitutional risk to independent officials like Fed Chair Jay Powell in Trump's term.