At the World Economic Forum in Davos, Donald Trump’s return is forcing allies, executives and investors to rethink how they deal with an economic superpower that keeps everything “on the table.”

In this episode of Trumponomics, host Stephanie Flanders, Bloomberg News Editor in Chief John Micklethwait, Bloomberg Television host Annmarie Hordern and Sridhar Natarajan, Bloomberg News’ chief Wall Street correspondent, examine whether Europe is finally prepared to push back after a year of accommodating tariffs, trade threats and now even territorial claims while Trump scrambles to address an affordability crisis at home while pushing a business-friendly approach to AI abroad. The conversation explores how this historic divergence from rules-based economics is reshaping global alliances, US corporate strategy and the future of both US markets and the world economy.

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Host Stephanie Flanders, Bloomberg’s head of government and economics, is joined by Anna Wong, chief US economist for Bloomberg Economics, and Bloomberg News senior Washington correspondent Saleha Mohsin to unpack the political backlash sparked by the Trump administration's criminal probe into Fed Chair Jerome Powell, including rare pushback from a few Republican lawmakers and Donald Trump’s own Treasury secretary. The discussion explores how the move, which Powell says is over monetary policy rather than building renovations, could backfire by hardening his resolve, complicating Trump’s plans to install a new Fed chair and his attempts to force interest rate cuts.

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This week, Stephanie Flanders examines the economic fallout of the US attack on Venezuela and Washington asserting effective control over the South American country. The discussion focuses on what this means for global oil markets, US economic power and the rules-based international order. Javier Blas, a columnist for Bloomberg Opinion and energy expert, and Bloomberg Economics analyst Chris Kennedy, who served as a member of Secretary of State Marco Rubio’s policy planning staff, explain how access to Venezuela’s vast oil reserves could give the US unprecedented leverage over energy prices and foreign policy. They also analyze how it increases geopolitical instability and may help, or hinder, Trump's domestic political goals.

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Host Stephanie Flanders is joined by Bloomberg Economics Chief Economist Tom Orlik, Bloomberg Opinion columnist Parmy Olson and Bloomberg News US politics editor Mario Parker to look back at a chaotic 2025—marked by Donald Trump’s messy April tariff rollout and a presidency defined by seemingly deliberate uncertainty—and ask what it means for 2026.

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How are rising insurance costs—both health and automotive—becoming a major driver of the affordability crisis spreading across America? And what are the implications for next year’s midterm elections? Bloomberg reporter Rachel Cohrs Zhang, who covers health policy, and Boston Bureau Chief Brooke Sutherland join to discuss.

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When the Trump administration posted its 29-page national security strategy on Dec. 5, it presented foreign governments with a jarring reinterpretation of America’s place in the world and how it sees traditional allies. On this episode of Trumponomics, host Stephanie Flanders, along with Adam Farrar, senior geoeconomics analyst for Bloomberg Economics, and Shawn Donnan of Bloomberg News, discusses how the White House broadside appears to reorder US priorities. In particular, they analyze its clear message that—to Donald Trump—economic power isn’t just a component of US national security; it is national security.

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US President Donald Trump may soon name Kevin Hassett as the next Fed chair, subject to Senate confirmation. So what happens if he gets the job when Jerome Powell's term ends next year? On this episode of Trumponomics, host Stephanie Flanders, Bloomberg Economics Chief US Economist Anna Wong and Washington correspondent Saleha Mohsin unpack why Hassett has emerged as the likely pick, and what it could mean for markets, interest rates and the Fed’s independence.

For more, Anna Wong's Interview with Kevin Hassett:
https://www.youtube.com/watch?v=ECFNeNqKQOM

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On this episode of Trumponomics, host Stephanie Flanders sits down with Singapore Foreign Minister Vivian Balakrishnan to unpack the shifting dynamics of global trade in an era of US protectionism and rising geopolitical tension.

From Donald Trump' retreat from America's postwar role to the deepening lack of trust between Washington and Beijing, Balakrishnan explains why today’s economic disruptions are less a sudden storm than “geopolitical climate change.” Yet amid fractured supply chains and rising uncertainty, he offers a note of optimism—highlighting how Asia, Europe and other mid-sized economies are forging new alliances to keep globalization alive.

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