Since his return to the White House, Donald Trump has turned his back on the free-market principles that the United States spent decades championing. In doing so, he threatens to dismantle the economic order that helped produce unprecedented growth in global output and trade.
WASHINGTON, DC—In his second administration, Donald Trump has injected the federal government deep into private markets and undermined the independence of government agencies and institutions. Most notably, he repeatedly and publicly pressured the Federal Reserve to lower interest rates. In a sharp departure from the traditional US model, and the model of economic government that has prevailed in the United States for centuries, Trump’s administration has acquired equity stakes in more than 30 American firms, and has even taken control of large swathes of the Venezuelan economy.
WASHINGTON, DC—In his second administration, Donald Trump has injected the federal government deep into private markets and undermined the independence of government agencies and institutions. Most notably, he repeatedly and publicly pressured the Federal Reserve to lower interest rates. In a sharp departure from the traditional US model, and the model of economic government that has prevailed in the United States for centuries, Trump’s administration has acquired equity stakes in more than 30 American firms, and has even taken control of large swathes of the Venezuelan economy.