Inner Circles.

What to expect from a second Trump presidency.

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1.  Bloomberg Businessweek:

No one really knows what to expect from a second Trump presidency. So (we) went to Mar-a-Lago to press Trump for answers. In a wide-ranging interview on business and the global economy, he said that, if he wins, he’ll allow Jerome Powell to serve out his term as chair of the Federal Reserve, which runs through May 2026. Trump wants to bring the corporate tax rate to as low as 15%, and he no longer plans to ban TikTok. He’d consider Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., to serve as Secretary of the Treasury. Trump is cool to the idea of protecting Taiwan from Chinese aggression and to US efforts to punish Putin for invading Ukraine. He keeps circling back to William McKinley, who he says raised enough revenue through tariffs during his turn-of-the-20th-century presidency to avoid instituting a federal income tax yet never got the appropriate credit. And Trump (who has a proclivity to lie) insists he won’t pardon himself if convicted of a federal crime in the three federal cases pending against him: “I wouldn’t consider it.”

The broad strokes of “Trumponomics” might not be different from what they were during his first term. What’s new is the speed and efficiency with which he intends to enact them. He believes he understands the levers of power much more deeply now, including the importance of selecting the right people for the right jobs. “We had great people, but I had some people that I would not have chosen for a second time,” he says. “Now, I know everybody. Now, I am truly experienced.” (Source:  bloomberg.com, Full transcript of the interview is here)