President Trump has proudly stretched the power of the presidency in never-before-witnessed ways . - But it's the choices he's made with that power — often alone, often impulsive — that explain his plunging popularity and will define his second term. Why it matters: Every president tests limits. Trump tests them faster than anyone, often with little thought about the consequences, his advisers tell us. Only courts or markets, or his quest for good press, can rein him in. - By then, the tariffs are in place, the war has started, the ally is insulted. You can sort his choices into three buckets: 1. Rule of law as weapon: Trump has pointed the machinery of the federal government at his enemies while enriching himself and his family…
President Trump has proudly stretched the power of the presidency in never-before-witnessed ways . - But it's the choices he's made with that power — often alone, often impulsive — that explain his plunging popularity and will define his second term. Why it matters: Every president tests limits. Trump tests them faster than anyone, often with little thought about the consequences, his advisers tell us. Only courts or markets, or his quest for good press, can rein him in. - By then, the tariffs are in place, the war has started, the ally is insulted. You can sort his choices into three buckets: 1. Rule of law as weapon: Trump has pointed the machinery of the federal government at his enemies while enriching himself and his family…Open
Mike Needham, a longtime aide to Secretary of State Marco Rubio, has been promoted to a top national security job in the White House, Axios has learned. Why it matters: Needham's new post as assistant to the president and deputy national security adviser is one of the more important jobs in a Trump administration consumed with foreign policy challenges from Iran to China, Cuba and Venezuela. Zoom in: Needham replaces Robert Gabriel, whom White House Chief of Staff Susie Wiles last week called "a trusted confidant and dear friend to me and his White House colleagues." - Like Gabriel, Needham has good relations in the White House, including with Vice President JD Vance's team. - "Everyone likes Mike. He gets the policy. He gets the…
Mike Needham, a longtime aide to Secretary of State Marco Rubio, has been promoted to a top national security job in the White House, Axios has learned. Why it matters: Needham's new post as assistant to the president and deputy national security adviser is one of the more important jobs in a Trump administration consumed with foreign policy challenges from Iran to China, Cuba and Venezuela. Zoom in: Needham replaces Robert Gabriel, whom White House Chief of Staff Susie Wiles last week called "a trusted confidant and dear friend to me and his White House colleagues." - Like Gabriel, Needham has good relations in the White House, including with Vice President JD Vance's team. - "Everyone likes Mike. He gets the policy. He gets the…Open
The president bulldozed the East Wing and remade federal panels that quickly approved his ballroom project. But he has faced barriers as he seeks to complete it.
For most of this century, rich countries have enjoyed a seemingly free lunch: They could spend money as needed, cut taxes at will and stimulate their way out of problems without paying a price in the form of higher borrowing costs or inflation. The big picture: That era is over. The $145 trillion global bond market is flashing red signals that there's now a price to be paid for governments that indulge their profligate impulses. - It reflects a world where supply disruptions are colliding with massive government borrowing needs and the funds required for the AI buildout. - The result: Higher inflation and surging demand for capital add up to higher and more volatile interest rates. State of play: In the near term, it becomes more…
For most of this century, rich countries have enjoyed a seemingly free lunch: They could spend money as needed, cut taxes at will and stimulate their way out of problems without paying a price in the form of higher borrowing costs or inflation. The big picture: That era is over. The $145 trillion global bond market is flashing red signals that there's now a price to be paid for governments that indulge their profligate impulses. - It reflects a world where supply disruptions are colliding with massive government borrowing needs and the funds required for the AI buildout. - The result: Higher inflation and surging demand for capital add up to higher and more volatile interest rates. State of play: In the near term, it becomes more…Open
With a U.S.-Iran deal (maybe?) taking shape in coming days, the oil market that follows will look different than what preceded the war. Why it matters: The emerging deal — which would re-open the Strait of Hormuz while nuclear talks proceed — could return large amounts of barrels to the market. - It's not a moment too soon as global oil stockpiles, which have somewhat tempered the crisis, are drawn down at record pace. Reality check: Things won't be normal for a long time, and the postwar definition of normal is fluid, too. A few near-term and long-term things to watch... Confidence: In the near term, "It's all about whether vessel owners and crews feel safe transiting the Strait of Hormuz," said oil analyst Ben Cahill of UT-Austin.…
With a U.S.-Iran deal (maybe?) taking shape in coming days, the oil market that follows will look different than what preceded the war. Why it matters: The emerging deal — which would re-open the Strait of Hormuz while nuclear talks proceed — could return large amounts of barrels to the market. - It's not a moment too soon as global oil stockpiles, which have somewhat tempered the crisis, are drawn down at record pace. Reality check: Things won't be normal for a long time, and the postwar definition of normal is fluid, too. A few near-term and long-term things to watch... Confidence: In the near term, "It's all about whether vessel owners and crews feel safe transiting the Strait of Hormuz," said oil analyst Ben Cahill of UT-Austin.…Open