The second Trump presidency kicks off with intense activity including federal agency firings and tariff threats. While investors show confidence in markets, the cost of extending tax cuts from Trump's first term raises concerns. Analysts suggest the tax cuts could amount to $4 trillion over the next decade, compelling Congress to negotiate potential savings and cuts elsewhere. Bond markets remain relatively stable, buoyed by confidence in Treasury Secretary Scott Bessent, who reassures that upcoming policies will benefit the economy.
'Even by Washington standards, the second Trump presidency has begun in frenetic fashion: mass firings at federal agencies, tariff threats against allies and foes alike...'
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