Browsing: Donald Trump

Billionaire Elon Musk has been tapped by Donald Trump to co-lead a new body aimed at overhauling government operations. The body aims to streamline bureaucracy and cut federal spending. Trump described the organisation as an external advisory body working alongside the White House and the Office of Management and Budget.

Russian President Vladimir Putin congratulated Donald Trump on his recent election victory, praising him as a “courageous man” during a speech in Sochi. Putin noted that Trump was “hounded from all sides” during his previous term in office.

Jerome Powell, the head of the US Federal Reserve, dismissed speculation that former President Donald Trump could remove him from his position when he returns to office in January 2025. Speaking at a press conference after the Fed lowered its key interest rate to 4.5%-4.75%, Powell said he would not step down if asked, adding that the law protects his role from presidential interference.

China, after decades of mostly export-based growth, must now deal with massive problems of industrial overcapacity. The country is now trying to encourage more domestic consumption and to diversify its trading partners.

In very traditional Republican terms, he’s talking about tax breaks and reduced regulation. In terms of some of his specific pledges on the economy, he’s talking about getting rid of income taxation on tips and overtime. These things combined have the potential to be quite domestically inflationary, I would say.

Some of the US front pages reflect more updated reports regarding the US election, whilst others, due to time zones, are already old news! 

Only a handful of papers declare Donald Trump on the cusp of winning the election whilst others went to print long before those indications became clear. 

The more updated front pages also highlight the news the GOP has won back the Senate and that Donald Trump appears to have won the popular vote.

Donald Trump’s election victory leads the UK news cycle this morning, with media sites dominated by the constant updates as they roll in. The UK newspapers went to print long before election results were coming in, meaning most newspapers are already out of date.
On X – there are reactions from UK users to the news of Trump’s reelection, with #RejoinTheEU one of the biggest trending stories this morning. Users are highlighting Britain should now look at a closer relationship with Europe as the UK-US relations appear to weaken.