Amid the chaos caused by President Donald Trump’s return to the global stage, the US economy is proving far more resilient than his rhetoric suggests. While his presidency like his campaign leans heavily into protectionism, with tariff threats and promises of a manufacturing revival, the numbers tell a different story about the economy up until now—one of American outperformance.

On this week’s episode of Trumponomics, we speak with historian and commentator Niall Ferguson and CNN host and author Fareed Zakaria at the Milken Conference about Trump’s economic worldview and how it stacks up against reality.

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On this episode of Trumponomics, we discuss why India stands to gain from the US trade war with China and the rest of the world. Host Stephanie Flanders speaks with Bloomberg senior editor Chris Anstey and reporter Shruti Srivastava, as well as Bloomberg Economics senior India economist Abhishek Gupta. They look at how India has been able to pull ahead of rivals as the US roils the world, and specifically whether the Republican in the White House may unintentionally be boosting the South Asian nation’s long-term ambitions to replace China as the “factory of the world.”

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What are the long-term implications of Donald Trump's attacks on Federal Reserve Chair Jerome Powell? Host Stephanie Flanders is joined by Krishna Guha, vice chairman of Evercore ISI and head of its Global Policy and Central Bank Strategy Team, and Bloomberg managing editor Kate Davidson.

“Up to this point, the market has confidence that the Fed will do whatever turns out to be necessary to prevent this initial, very big wave of one-time tariff inflation,” Guha says. “But that’s premised on the idea the Fed is free to do what it judges as needed.” As bad as Trump’s trade war has been for markets, Guha warns that if Wall Street begins to doubt Fed independence, things could get much worse.

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