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☆ The best writing online about why Trump won, why Harris lost, and what it all means
▼ + stars: | 2024-11-08 | by ( Theron Mohamed | Erin Snodgrass | ) www.businessinsider.com time to read: +20 min

Commentators and academics have been weighing in on why Donald Trump won the US election. The images of him bleeding after a failed assassination attempt became the symbol of what supporters saw as a campaign of destinyHow Mr. Trump won is also the story of how Ms. Harris lost. Laurel Duggan, UnHerdWhy white women stuck with TrumpAdvertisementThe abortion issue had seemingly little impact on Republicans's performance with white women in this cycle. Nate Silver, founder of FiveThirtyEight and author of the Silver Bulletin newsletterSilver republished a lengthy blog post from late October with the new title "24 reasons that Trump won." Nate Silver offered up 24 reasons why Trump won.

Persons: Donald Trump, —, There's, Donald Trump's, They've, Kamala Harris, Frank Bruni, Let's, Harris, aren't, Hannibal Lecter, Trump, Allysia Finley, Taylor Swift, Taylor, Swift, they'd, I'd, Sarah Baxter, Mueller, Francis Fukuyama, Ankush Khardori, Politico Trump, Shane Goldmacher, Maggie Haberman, Jonathan Swan, MAGA, Biden's, John Burn, Alexandra Ulmer, Gram Slattery, Elon Musk, Jim VandeHei, Mike Allen, Axios, David Weigel, Annie Lowrey, Biden, Gerard Baker, Hitler, Laurel Duggan, UnHerd, Sen, Chuck Schumer, Todd Landman, Evan Vucci Steve Hanke, Ronald Reagan, Steve Hanke, Reagan, Steve Hanke Nate Cohn, Tina Fordham, Trump's, Nate Silver, FiveThirtyEight, AP Matthew Yglesias, Yglesias, overperform electorally, Dominic Sandbrook, Sandbrook, Hillary Clinton, Tom Williams, Eric Cortellessa, Musk, Eric Cortellessa's Organizations: Service, Democratic, The New York Times Democrats, Trump, Street, Democrats Get, demeaned, Democrats, Financial, Republican, Biden, The New York Times, Trump Won, Republican Party, Britain's, Reuters Trump, White, Republicans —, Trump Republicans, Semafor, The Atlantic Voters, The, Democrat, Republicans, University of Nottingham, AP, Johns Hopkins University, Silver Locations: Trump, Ukraine, White, London, Florida, South Dakota, Arizona, Pennsylvania, Philadelphia, Ohio, Illinois, Wisconsin, Washington, New York City, San Francisco, Israel, California

☆ Pentagon officials discussing how to respond if Trump issues controversial orders
▼ + stars: | 2024-11-08 | by ( Natasha Bertrand | Haley Britzky | ) edition.cnn.com time to read: +9 min

CNN —Pentagon officials are holding informal discussions about how the Department of Defense would respond if Donald Trump issues orders to deploy active-duty troops domestically and fire large swaths of apolitical staffers, defense officials told CNN. “Troops are compelled by law to disobey unlawful orders,” said another defense official. “But the question is what happens then – do we see resignations from senior military leaders? At the time, defense officials tried to include as few civilian employees as possible to limit the impact to the workforce, sources said. But “there are still ways a new administration could work around these protections,” a defense official said, even if it might take several months to do so.

Persons: Donald Trump, Trump, ”, Mark Milley, “, Defense Lloyd Austin, Milley, John Kelly, Trump’s, Kelly, Hitler’s, Biden, –, George Floyd, …, Austin, ” CNN’s Oren Liebermann Organizations: CNN, Pentagon, Department of Defense, Joint Chiefs, Staff, ”, “ Troops, Trump, White, DoD, Defense, National Guard, White House, Defense Department, Customs, Reserves, Army, Congress, United States, Civilian, National Security and Intelligence, Management Locations: ’, ”, Hitler’s Nazi, United States

☆ Hyman: The Fed's in a good spot, and the soft landing is in hand
▼ + stars: | 2024-11-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHyman: The Fed's in a good spot, and the soft landing is in handSimeon Hyman of ProShares discusses why small-caps are still primed for gains, even they continue to trail the broader market.

Persons: Hyman, Simeon Hyman, ProShares

☆ Trump promised massive tariffs on imports but how he’ll pull it off is still being figured out
▼ + stars: | 2024-11-08 | by ( Kayla Tausche | ) edition.cnn.com time to read: +6 min

Washington CNN —Just days after winning a comeback election, President-elect Donald Trump is evaluating how his campaign promises might translate into policy. As a candidate, Trump pledged to slap 60% tariffs on all goods coming in from China and 10% tariffs on goods imported from all other countries. “The way that President Trump looks at tariffs are not in isolation. Trump’s economic advisers – and the president himself – view the forthcoming tariff revenue as a way to offset that cost. “If he can use the tariffs as a means to an end, he’ll do that.”CNN’s Katie Lobosco contributed to this report.

Persons: Washington CNN —, Donald Trump, ”, Trump, Kelly Ann Shaw, Hogan Lovells, –, ” Trump, Larry Kudlow, it’s, ” “, Karoline Leavitt, Vance, Jake Colvin, ” Colvin, “ That’s, Robert Lighthizer, Elon Musk, “, he’s, Katie Lobosco Organizations: Washington CNN, CNN, Trump, Republicans, Jobs, Tax, Center, Social Security, Advisers, “, National Foreign Trade Council, European Union, EU, EV Locations: China, Trump’s, America, Canada, There’s, Tesla

☆ How Trump broke both parties — and where Democrats go from here: From the Politics Desk
▼ + stars: | 2024-11-07 | by ( The Politics Desk | ) www.nbcnews.com time to read: +10 min

In today’s edition, senior national political reporter Jonathan Allen explains why Democrats need to retool their economic message during Donald Trump's second term. Plus, senior national politics reporter Matt Dixon writes that the battle to succeed Trump in four years is already underway. How Trump broke both parties — and where Democrats go from hereBy Jonathan AllenOver the course of the last decade, President-elect Donald Trump broke both national political parties. Before Trump, Democrats nominated — and the country twice elected — Barack Obama, a candidate who ran against leaders that walked the country into forever wars and a finance-and-housing crisis that nearly toppled the economy. Harris’ economic policy offerings were largely expansions of Biden proposals, such as more generous homebuyer and child tax credits than he called for.

Persons: Jonathan Allen, Donald Trump's, Matt Dixon, Trump, Kristen Welker, Donald Trump, Joe Biden’s, —, — Barack Obama, Cheney, Trump’s, Ronald Reagan, Sen, Bernie Sanders, Biden, Kamala Harris, Harris, Bill Buckner, omez Organizations: NBC, White House, Capitol, Democratic Party, Trump, Democratic, Democrats, District of Columbia, Republican Party Locations: Minnesota

Donald Trump’s return to the presidency has done something no political opponent could: put an end date on his time atop the Republican Party. Trump single-handedly remade the Republican Party in his own image, not only becoming its unquestioned leader but also rewiring what the Grand Old Party stands for. “We are getting four more years of Trump and then eight years of JD Vance!” Trump Jr. said last week as he campaigned for Ohio Senate candidate Bernie Moreno. He had a shaky start, but he has steadied himself,” a veteran Republican operative said. “A Trump win means [the 2028] field will be slower to develop,” a longtime Republican operative said.

Persons: Donald Trump’s, MAGA, Trump, ”, “ Trump, Reagan, JD Vance, Vance, Gene J, Donald Trump Jr, ” Trump, Bernie Moreno, “ JD, steadied, “, Ron DeSantis, Sarah Huckabee Sanders, Vivek Ramaswamy, Brian Kemp, Nikki Haley, Glenn Youngkin, Sen, Ted Cruz of, Tim Scott of, Ronald Reagan, ” DeSantis, I’m, “ Huckabee Sanders, —, Huckabee Sanders, Ramaswamy, Haley, ” Haley, Dave McCormick can’t, Donald Trump Organizations: Republican Party, Trump, Old Party, Republicans, Republican, Trump Republicans, Reagan Democrats, Ohio, White House, Florida Gov, Georgia Gov, South Carolina Gov, Virginia Gov, Trump Republican, Gov, GOP, Trump ” Republicans Locations: Trump, Butler , Pennsylvania, Bedford , Pa, Arkansas, Georgia, Virginia, Ted Cruz of Texas, Tim Scott of South Carolina, Florida, Iowa, Ohio, South Carolina, Pittsburgh, Pennsylvania

If chosen, Wiles would become the first female White House chief of staff in history. “The team of rivals concept did not apply here.”"Susie is as good as they get," a second Trump campaign official said. A third Trump campaign official said Wiles is already playing the de-facto chief of staff role and that staffers widely want her to get the job. “She would be everybody’s number one pick, but it’s his decision,” the first campaign official said. Other names actively under consideration for the White House chief of staff role include Brooke Rollins, a former top White House aide to Trump who now leads the Trump-aligned America First Policy Institute, and former House Majority Leader Kevin McCarthy.

Persons: Donald Trump’s, Susie Wiles, Wiles, ”, Susie, She'd, Trump, “, I’m, Trump's, Cantor Fitzgerald, Howard Lutnick, Linda McMahon, Pat Summerall, they’ve, ” Trump, Matt Gaetz, Lutnick, Butler , Pennsylvania —, McMahon, Brooke Rollins, Kevin McCarthy, Rollins, McCarthy Organizations: White, Trump, NBC, Democratic, White House, Policy Institute, Fox News Locations: Thurday, American, Florida, Butler , Pennsylvania

NOW PLAYINGWhat Kamala Harris’s Loss Means To Black Women3:10Donald Trump Makes Stunning Return to Power4:14How We Model Election Results With the Needle4:17Why the U.S. Election Matters in These Countries3:43The County That Got Every President Right (Since 1980)3:46Three Questions About Election Results4:34Our Photographers’ Favorite Campaign Trail Photos2:48How Trump Is Trying to Win Gen Z Men3:00What Backlash To Racist Rally Remarks Means for Trump3:18How Donald Trump Is Making Big Promises to Big Business2:43Why This Nuclear Power Plant Is Restarting2:55

Persons: Kamala Harris’s, Donald Trump Organizations: Trump

Ties have been at their lowest point in decades amid disputes over trade, technology, Taiwan and Chinese aggression in the South China Sea. “We respect the choice of the American people,” the Chinese Foreign Ministry said in a statement earlier. A second Trump presidency “could mark a new beginning in China-U.S. relations if the chance that has been offered is not wasted,” state-run newspaper China Daily said in an editorial on Wednesday. But Chinese officials laser-focused on stabilizing their faltering economy are also mindful of the tariffs of 60% or more that Trump has vowed to impose on all Chinese imports. One person it may turn to for help is tech billionaire Elon Musk, a devoted Trump supporter with extensive business interests in China who is wildly popular there.

Persons: “, Xi Jinping, Donald Trump, Biden, Xi, Trump, China “, ”, Susan Walsh, Rick Waters, Kamala Harris, Waters, Trump’s, ” Waters, Harris, Mao Ning, Elon Musk, Ian Bremmer Organizations: Trump, ” Xinhua, Foreign Ministry, Eurasia Group, Democratic, ., China Daily, CNBC Locations: HONG KONG, Taiwan, South China, Beijing, China, Asia, Pacific, South Korea, Japan, Australia, U.S, China’s, New York, Houston, Chengdu

☆ Trump has long threatened the media. Press freedom groups fear he might make good on it
▼ + stars: | 2024-11-07 | by ( Liam Reilly | ) edition.cnn.com time to read: +7 min

New York CNN —Press freedom groups sounded the alarm Wednesday on the potential dangers facing journalists under a second Trump administration, denouncing threats from the president-elect and his associates to undermine the news media. “On the campaign trail and during his previous administration, President-elect Donald Trump has frequently deployed violent language and threats against the media. His election to a second term in office marks a dangerous moment for American journalism and global press freedom,” Reporters Without Borders said. In the run-up to Election Day, Trump repeatedly threatened the Fourth Estate, often employing extreme and authoritarian rhetoric. In the wake of Tuesday’s election, press freedom advocates remain concerned about the longer-term implications of legal threats that journalists could face.

Persons: Trump, Donald Trump’s, “, Donald Trump, Kamala Harris, ” Clayton Weimers, Time Warner, ”, Katherine Jacobsen, “ Trump, ” Trevor Timm, Biden, it’s, We’ve, ” Jacobsen, Puck, —, ” Kyle Paoletta, Vladimir Putin, Kim Jong Un, Recep Tayyip Erdogan, Xi Jinping, Hungary’s, Viktor Orbán, ” CPJ, Kash Patel, ” “, Joe Biden, — we’re, Steve Bannon, Trump’s, . Sulzberger Organizations: New, New York CNN — Press, Protect Journalists, Press Foundation, American Sunlight, Borders, CBS, Trump, Justice Department, Time, CNN, White, Protect Journalists US, “ Lawmakers, Politico, Axios, “, Columbia, National Security Council, The New York Times Locations: New York, Pennsylvania, Canada, Caribbean, United States, strongmen, North Korean, Turkish

☆ Economic upheaval and political opportunity – what Trump’s return could mean for China
▼ + stars: | 2024-11-07 | by ( Nectar Gan | ) edition.cnn.com time to read: +9 min

“Trump’s return to power will certainly bring greater opportunities and greater risks for China,” said Shen Dingli, a foreign policy analyst in Shanghai. AFP/Getty ImagesChallenges and opportunitiesBut Trump’s “America First” agenda and transactional worldview may also play in Beijing’s favor, experts say. “Although Beijing is deeply concerned about the unpredictability of Trump’s China policy, it reminds itself that challenges also bring opportunities,” said Tong Zhao, senior fellow at the Carnegie Endowment for International Peace. “If the US and Russia ease relations, it could create greater daylight between Russia and China, effectively driving a wedge between them.” Liu said. “From everything he has said, it’s clear that Trump considers China, not Russia, as the main adversary.”

Persons: Donald Trump, “, ”, Shen Dingli, Xi Jinping, Trump, Xi, “ Trump, Liu Dongshu, Jim Watson, Larry Hu, Kamala Harris, Daniel Russel, Russel, Barack Obama, Tong Zhao, Joe Biden, Arleigh Burke, Halsey, Ismael Martinez, China’s, he’s, ” Zhao, Vladimir Putin, Liu, ” Liu Organizations: Hong Kong CNN, Foreign, Chinese Foreign Ministry, City University of Hong, Getty, Huawei, Investment, Macquarie, Republican, Asia Society Policy Institute, Shipping, Carnegie Endowment, International, NATO, Asian Nato, Trump, US Navy, U.S . Navy, AP, Russia Beijing, Communist Party, Industry, Wall Street Locations: Hong Kong, China, United States, Beijing, Shanghai, America, City University of Hong Kong, Lago, Florida, AFP, Asia, Lianyungang, China's Jiangsu, Europe, Western, Russia, Asian, Taiwan Strait, AP Taiwan, Taiwan, Washington, Ukraine

☆ Goldman Sachs slashes European growth forecasts on Trump win
▼ + stars: | 2024-11-07 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —President-elect Donald Trump’s proposed protectionist policies, including hefty tariffs, will hurt Europe’s economic standing — leaving crisis-hit Germany particularly vulnerable, Goldman Sachs predicts. Goldman Sachs expects gross domestic product across the 20 countries that use the euro to expand 0.8% next year, down from the 1.1% it forecast previously. Goldman Sachs’ central expectation is for “a more limited set of tariffs on European economies,” targeting primarily their auto exports. Goldman Sachs now expects the German economy to grow only 0.5% next year because of trade tensions, just over half the 0.9% growth it forecast previously. “For European businesses, Trump’s return to the White House implies considerable trade policy risks and geopolitical uncertainty,” Berenberg chief economist Holger Schmieding wrote in a note Thursday.

Persons: Donald Trump’s, Goldman Sachs, Trump’s, Trump, ”, Holger Schmieding, “ Organizations: London CNN —, NATO, Republican, European Union, Volkswagen, VW Locations: Germany, United States, Europe, Ukraine, China

☆ Trump allies, private sector quietly prepare for mass detention of immigrants
▼ + stars: | 2024-11-07 | by ( Priscilla Alvarez | Alayna Treene | ) edition.cnn.com time to read: +7 min

The federal government contracts with the private sector to build, operate and manage detention facilities, and works with county jails. ICE Enforcement and Removal Operations has generally been underfunded and has previously had to reprogram funds to expand detention space, especially during border surges. “They would need to be aggressive to make sure they don’t have to reprogram,” one former senior ICE official said, citing the upcoming budget cycle. They can move relatively quickly,” the former senior ICE official said, adding that deportations can be challenging with certain countries. Still, some in the department’s immigration enforcement agencies welcomed Trump’s win.

Persons: Donald Trump’s, Joe Biden, Jason Miller, they’ve, Obama, Tom Homan, “ It’s, ” Homan, “, We’ll, Brian Hughes, Trump, ” Hughes, ”, John Sandweg, “ Shell, Biden, Trump’s Organizations: CNN, Immigration, Customs, CBS News, Trump, White, “, Democratic, Republican, ICE, Health, Human Services Department, DHS, Department of Homeland Security, Homeland Security, Democrats, Biden Locations: United States, “, Mexico, Central America

☆ We stayed at a casino for my grandma's 92nd birthday. All three generations of my family found things to do.
▼ + stars: | 2024-11-07 | by ( Meredith Wilshere | ) www.businessinsider.com time to read: +4 min

My family spent three days at Foxwoods Casino Resort for my grandma's 92nd birthday. AdvertisementAll three generations of my family spent three days at Foxwoods Casino Resort in Connecticut, celebrating my grandmother's 92nd birthday. The resort casino is one of the largest in the world, with six casinos, over 2,200 hotel rooms, and dozens of restaurants. There was something for everyone — whether you wanted to gamble or notThe Foxwoods property was expansive. Foxwoods Casino was the perfect destination for a multigenerational tripMy whole family enjoyed the trip.

Persons: —, we'd, Meredith Wilshere Organizations: Service, Pequot Native American Museum Locations: Connecticut, Portland , Oregon, New England

☆ What to know about Trump’s US government reformation plan
▼ + stars: | 2024-11-07 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +9 min

While Trump may not want to associate with that plan, it was formulated by his allies – at least 140 people associated with Project 2025 worked in Trump’s administration, according to a review by CNN’s Steve Contorno. Trump’s adviser Stephen Miller said on Fox News to expect deportations to begin the moment Trump is again president on January 20, 2025. Commonly referred to as “Schedule F,” Trump’s plan was to undo long-standing protections for nonpartisan civil servants. John McEntee, who was director of the White House Presidential Personnel Office during Trump’s first administration, worked on Project 2025, building a list of Trump loyalists suitable for administration roles. Only one of the 26 potential positions in a Trump Cabinet, Vice President-elect JD Vance, is in place.

Persons: Donald Trump, Trump, –, CNN’s Steve Contorno, Russell Vought –, Biden, What’s, Stephen Miller, “, ”, it’s, Carlos Gimenez, CNN’s Pamela Brown, ” Gimenez, we’ll, ” CNN’s Priscilla Alvarez, Tom Homan, Obama, John McEntee, McEntee, he’s, Kennedy, Walker, Joe Biden’s, JD Vance, John Kelly, Donald Jr, It’s, that’s, Nixon Organizations: CNN —, Ukraine “, Heritage Foundation, Trump, Management, National Guard, Fox News, Florida Republican, ICE, CNN, DC, White, United, Trump Cabinet, Defense and Homeland Security, Republican Locations: Ukraine, Florida, Trump, Georgia, United Nations, United States, ”

☆ The Federal Reserve cuts interest rates by a quarter point after election. Here's what that means for you
▼ + stars: | 2024-11-07 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

Mortgage ratesHousing affordability has been a major issue due in part to a sharp rise in mortgage rates since the pandemic. Trump has said he'll bring down mortgage rates — even though 15- and 30-year mortgage rates are fixed, and tied to Treasury yields and the economy. Mortgage rates are unlikely to fall significantly, given the current climate, explained Jacob Channel, senior economist at LendingTree. Federal student loan rates are fixed, so most borrowers won't be immediately affected. But refinancing a federal loan into a private student loan will forgo the safety nets that come with federal loans, such as deferments, forbearances, income-driven repayment and loan forgiveness and discharge options.

Persons: Joshua Roberts, Matt Schulz, Trump, Jessica Caldwell, Edmunds, Trump's, Caldwell, Michele Raneri, Jacob Channel, Mark Kantrowitz Organizations: Federal, Reuters, Auto, Fed, Treasury, TransUnion, Mortgage, Association . Locations: Washington ,, Edmunds, U.S

☆ Inflation haunted Harris. If Trump isn’t careful, it will cost him too
▼ + stars: | 2024-11-07 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

New York CNN —Donald Trump rode a powerful wave of discontent over the cost of living back to the White House. Trump reminded voters often that inflation wasn’t a problem when he was calling the shots. But if he’s not careful, Trump could have an inflation problem of his own. They point to study after study that shows Americans bore almost the entire cost of Trump’s tariffs on China. “When Trump uses tariffs as a negotiating tool, I’m fine with that,” Moore said during a phone interview in late October.

Persons: Donald Trump, Trump, he’s, ” Ryan Sweet, won’t, ” Sweet, “, Joe Biden, CNN’s Phil Mattingly, ” He’s, Trump’s, “ We’re, ” Daniel Alpert, CNN’s Allison Morrow, Stephen Moore, CNN he’s “, ” Moore Organizations: New, New York CNN, Voters, Oxford Economics, CNN, Trump, Federal, Peterson Institute for International Economics, Peterson Institute, National Retail Federation, Westwood Capital Locations: New York, Washington, Pennsylvania, China

☆ What a Republican sweep in Congress could mean for the stock market—in one chart
▼ + stars: | 2024-11-07 | by ( Ryan Ermey | ) www.cnbc.com time to read: +2 min

Former President Donald Trump has won the 2024 election, sweeping into office on a wave of support for Republican candidates. NBC News reports that the previously Democrat-controlled Senate will have a Republican majority. After all, the S&P 500 has gone up during 17 of the last 20 four-year presidential terms. A divided Congress in particular tends to bode well for investors, with average yearly gains of 15.7% under Democratic presidents and 13.7% under Republican presidents. Should the S&P 500 finish out 2024 up from the previous year (it's currently up about 25%), it will mark 14 consecutive years of positive returns under split Congresses.

Persons: Hakeem Jeffries, Mitch McConnell, Charles Schumer, Mike Johnson, Donald Trump, It's, Trump, Ryan Detrick, bode, it's Organizations: U.S, Capitol, Republican, NBC News, Carson Group, Democratic Locations: D, Ky

☆ A top mind at JPMorgan Asset Management warns of clear economic red flag after Trump's big win, despite soaring US stocks
▼ + stars: | 2024-11-07 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

US stocks had one of their best days in years and hit new records after Trump's resounding win over Kamala Harris in Tuesday's election. Both of those moves make sense, said David Kelly, the global strategy chief at JPMorgan Asset Management, in an interview on Wednesday. AdvertisementThe strategy chief has been adamant that higher tariffs — one of Trump's key proposals — would cripple the US economy and endanger the global economic expansion. Related storiesMost economists condemn tariffs, which are taxes on imports, because they tend to lead to higher prices and lower economic growth. Sean Gallagher, the global head of Lazard's small-cap equity platform, made a similar point in a recent interview with Business Insider when asked about Trump's tariffs and Kelly's stance.

Persons: Stocks, Donald Trump, David Kelly, Wall, he's, —, Donald Trump's, Trump's, Kamala Harris, Kelly, Trump, Mahatma Gandhi, I'm, I've, Tom Orlik, who's, Chris Murphy, Susquehanna's, Orlik, Sean Gallagher, Gallagher, maven, He's, inflation's Organizations: House . Market, Service, Nasdaq, US, JPMorgan Asset Management, Republican, JPMAM, Bloomberg Economics, Business, Trump Locations: Tuesday's

☆ Get ready for inflation and interest rates to rise again
▼ + stars: | 2024-11-07 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The Federal Reserve would likely respond to inflation by raising interest rates to curb demand. In an economic chain reaction, households would then pay higher interest rates on borrowing of all kinds as the Fed moves to tame that newly rekindled inflation. That led to the 30-year fixed mortgage rate rising, meaning homebuyers are on track to see higher interest rates on loans. An analysis by the nonpartisan Tax Policy Center found that Trump's policies would decrease posttax incomes by an average of $1,800 in 2025. Trump's win is also expected to influence the Federal Reserve's upcoming decisions on interest rates.

Persons: Donald Trump, —, Trump, Ramping, Trump's, it's, Jerome Powell, Joseph Stiglitz Organizations: Federal, Service, Biden, US Census Bureau, Trump, Peterson, Center, American Progress, Tax Foundation, Fed Locations: China

☆ Trump and his party aim to further expand power in Washington: From the Politics Desk
▼ + stars: | 2024-11-06 | by ( The Politics Desk | ) www.nbcnews.com time to read: +6 min

In today’s edition, we explore how Republicans are eyeing maintaining their current House majority and expanding their newfound Senate majority after Donald Trump's victory. But given Trump’s decisive victory over Vice President Kamala Harris, House Republicans are feeling bullish about their chances of preserving their slim majority. The party that will hold the majority in the House of Representatives in January 2025 has yet to be determined. Republican Tim Sheehy defeated Democratic Sen. Jon Tester in Montana, NBC News projected Wednesday morning, giving the GOP 52 Senate seats. And the races in Nevada between Democratic Sen. Jacky Rosen and Republican Sam Brown and in Pennsylvania between Democratic Sen. Bob Casey and GOP challenger Dave McCormick are too close to call.

Persons: Donald Trump's, Kamala Harris, Scott Wong, Sahil Kapur, Kyle Stewart, Donald Trump, Will Trump, that’s, Trump, Mike Johnson, ” Johnson, Hakeem Jeffries, ” Jeffries, ”, Republican Tim Sheehy, Democratic Sen, Jon Tester, Tammy Baldwin, Eric Hovde, Elissa Slotkin, Mike Rogers, Ruben Gallego, Kari Lake, Jacky Rosen, Republican Sam Brown, Bob Casey, Dave McCormick, Read, → Harris, Natasha Korecki, ” Harris, Harris Organizations: NBC, White House, Capitol, Kyle Stewart Republicans, White, Senate, Representatives, NBC News, House Republicans, “, Republicans, Biden, Congressional, Democratic, GOP, Republican, Democratic Rep, Trump, Pennsylvania, mater Howard University Locations: Washington, West Palm Beach , Florida, Pennsylvania, Michigan, D, Virginia, Alabama, Louisiana, New York, Arizona , Oregon, Iowa, Southern California, Montana, Wisconsin, Arizona, Nevada

Harris offered to console Democrats over the loss to former President Donald Trump, acknowledging they were "feeling and experiencing a range of emotions right now." Trump never did when he lost to President Joe Biden and Harris in 2020. After Biden dropped out and endorsed Harris, Democrats reveled in the change, flooding donation channels and crushing fundraising records. The Biden campaign was skidding off course, setting off an eruption of party panic. Memorably, Harris offered a stinging rebuttal to Trump’s insistence on the debate stage that he had won the 2020 election.

Persons: Kamala Harris, Harris, Donald Trump, Trump, Joe Biden, Biden, MAGA, —, reveled, Roe, Wade, Hillary Clinton’s, “, ” Harris, Donald J, Shuran Huang, Nancy Pelosi, Harris ’, Oprah, Bruce Springsteen, John Legend, “ Donald Trump Organizations: mater Howard University, Wednesday, Democratic, Trump, Republicans, Republican Party, Republican, Democrats, Biden, Trump —, NBC News, White, U.S . Capitol, “, Service, Democratic National Convention Locations: U.S, California, America, Washington, “ America, United States of America, United States, Butler , Pennsylvania, Chicago, Iowa, Ohio

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Persons: Donald Trump Organizations: Trump

Republican Tim Sheehy has defeated Democratic Sen. Jon Tester in Montana, NBC News projects, deepening the GOP’s projected Senate majority after the party's wins in West Virginia and Ohio. Sheehy, a former Navy SEAL, defeated the three-term senator by consolidating Republican voters in a state that has turned a deeper shade of red in recent years. Sheehy and his allies cast Tester as a liberal Democrat who votes with President Joe Biden and Vice President Kamala Harris, undercutting the incumbent’s reputation as a centrist. But Democrats were cautiously optimistic that Montana voters would look at the presidential race and the Senate race through different lenses. While Sheehy had said he would respect Montana voters’ decision on the issue, he appeared open to supporting federal action on abortion, which Democrats exploited on the campaign trail and on the airwaves.

Persons: Tim Sheehy, Democratic Sen, Jon Tester, Sheehy, Joe Biden, Kamala Harris, Tester Organizations: Democratic, NBC News, Navy, Republican, Republicans, Senate Locations: Montana, West Virginia, Ohio, state’s

Democrat Angela Alsobrooks has won Maryland’s Senate race, NBC News projects, defeating popular former Republican Gov. Larry Hogan and becoming the first Black woman elected to represent the state in the Senate. It also means that, for the first time in history, Maryland will have a Black senator, governor and mayor of its largest city, Baltimore. Hogan could never quite replicate the support he received from Democrats as governor in his Senate campaign. In Hogan, many Marylanders saw a Republican who represented an increasingly rare version of the party prior to Trump’s takeover.

Persons: Angela Alsobrooks, Larry Hogan, Democratic Sen, Ben Cardin, Alsobrooks, Lisa Blunt Rochester's, ” Alsobrooks, “, David Trone, Hogan, Joe Biden, Sen, Carol Moseley Braun, Donald Trump, David Lublin, ”, “ doesn’t, “ We’re, Candace Turitto, ” Turitto, Wes Moore, Baltimore Mayor Brandon Scott, Francis Scott Key, Moore, there’s Organizations: Senate, NBC News, Republican Gov, Democratic, Democrats, Prince, Trump, American University, ”, Republican, University of Maryland’s, Black, Baltimore Mayor, Francis Scott Key Bridge Locations: Maryland, Baltimore, Delaware, Prince George’s County, ” Lublin, Lublin, “, it’s

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