Larry Kudlow reacts to Trump’s victories ahead of the inauguration
Donald Trump’s red-hot honeymoon continues and that’s the theme of the riff. Trump has successfully convinced Senate Republicans to go along with his one big, beautiful strategy for legislation – profit tax reductionborder closings, energy production and government shrinking by the DOGE brothers.
So the blue-collar boom may truly begin this year, to offset Mr. Trump’s promises his labor coalition. He has his eye on universal tariffs that could raise as much as $500 billion a year. Republican House Speaker Mike Johnson is putting together a big, beautiful coalition to pass the reconciliation bill.
CEOs far and wide who have opposed Trump in the past are all putting $1 million or more into Trump’s inauguration. Meta’s Mark Zuckerberg lifted censorship on Facebook and Instagram, and Amazon’s Zuckerberg and Jeff Bezos are ending DEI.
THESE ARE THE FASTEST GROWING JOBS IN THE US, SAYS LINKEDIN
All the major Wall Street banks have fled the awakened climate net-zero ESG alliance. Pathetic Judge Merchan and equally pathetic DA Bragg gave Trump an “unconditional discharge”. Every other gun legal case against Trump has failed.
The Court of Appeal has just prevented any application from Jack Smith or Merrick Garland – at least for now. Vladimir Putin wants to meet with Trump. Xi Jinping is sending an envoy to his inauguration, and Mr. Trump is preparing a flurry of new executive orders to topple Joe Biden’s big government regulatory socialism.
To name a few that could be announced on January 20th, we expect: staying in Mexico, ending catch-and-release, deportations, and ending illegal migrant flights.
Plus, ending the EV mandate, lifting the offshore fossil fuel drilling ban, reopening ANWR and ending the moratorium on LNG exports. actually, Mr. Trump ends the Biden administration, and its reckless policies and even today’s jobs report — which pleasantly surprised Wall Street — are being hailed by some as further evidence of the “Trump effect.”
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In light of the huge jump in small business confidence that followed the election, it’s entirely possible that some of December’s job gains are tied to the president-elect’s growth plan. Meanwhile, financial markets are fuming at Federal Reserve Chairman Jay Powell because he and his bunch of Ph.D.s got the interest rate and economic story wrong—yet again.
The Fed cut rates, but the market raised them. It’s called a sign of no confidence, but the guy who has enough confidence right now is Donald J. Trump. It’s a riff.
This article is adapted from Larry Kudlow’s introductory commentary on the January 10, 2025 edition of “Kudlow.”