Explore every episode of the podcast Trumponomics

Donald Trump’s wars, both the global trade version and the real one on Iran, are increasing costs for America’s farmers -- traditional followers of the Republican president who just might be reconsidering their allegiance. Stephanie Flanders speaks with Bloomberg’s Steven Dennis and former US Department of Agriculture chief economist Joe Glauber about why deep red farm states like Kansas are suddenly looking competitive, and whether economic frustration could produce a lasting shift in rural America.

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Elon Musk may be an extreme figure, but the authors of Muskism: A Guide for the Perplexed argue he represents a much bigger dynamic that's quickly taking shape, one where promises of “sovereignty through technology” may permanently embed tech figures such as himself at the center of government and society. Stephanie Flanders speaks with Ben Tarnoff and Quinn Slobodian about how Musk turned close ties with government into extraordinary power, and what his rise tells us about the changing relationship between Big Tech, the state and the global economy.

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As Chinese President Xi Jinping meets with US President Donald Trump in Washington, this week's episode of Trumponomics asks whether the world’s leading AI powers can move beyond summit pageantry and start managing the dangers created by their technological rivalry. Host Stephanie Flanders speaks with Bloomberg Executive Editor Dan Ten Kate and Geoeconomics analyst Michael Deng about why distrust over chips, model distillation and open-source AI is making meaningful cooperation so difficult—and why rare earths and deeply intertwined supply chains mean neither country can truly decouple from the other.

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The US 10-year Treasury yield has breached 5%, but the forces pushing borrowing costs higher may run much deeper than the latest economic shocks. Stephanie Flanders is joined by Bloomberg Opinion columnist John Authers and Jamie Rush of Bloomberg Economics to discuss how demographics, rising government debt and the artificial intelligence investment boom are reshaping the price of money — and why 5% could prove to be a floor rather than a ceiling.

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Artificial intelligence companies are spending extraordinary sums on the promise that their technology will transform the global economy. Author and technology critic Cory Doctorow joins Trumponomics host Stephanie Flanders to challenge that sales pitch, arguing that AI may be useful without delivering the cost savings or profits investors expect — and warning of the consequences for workers, markets and the wider economy if the boom ends badly.

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In the US-China trade conflict, rare earth metals are Beijing's ultimate trump card. Last year, China ramped up restrictions on these key industrial elements, spooking industry, and forcing the US to
climb down. Since that wake-up call, the US has worked hard to reduce its dependence on China. It has spent huge sums backing mining companies, penned eye-catching deals and moved to collaborate with allies. But after a little more than a year, how much progress has it made in breaking China’s hold on the rare earths supply chain? 

Featuring: Abigail Hunter of the SAFE Center for Critical Minerals Strategy; Gracelin Baskaran of the Critical Minerals Security Program at the Center for Strategic and International Studies; Cory Combs of Trivium China; and FT commodities correspondent Camilla Hodgson.

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With tensions rising between Canada and the US over the latest broadsides in President Donald Trump's trade war, the White House is threatening even more levies following Prime Minister Mark Carney's announced dollar-for-dollar retaliation. The rupture between Ottawa and Washington is becoming harder to dismiss as temporary, with the war of words increasingly implicating the broader relationship between the once-close allies.

But as more countries seek to put distance between themselves and the US, will they really move closer to China? In a conversation recorded Aug. 20, before the latest US-Canada skirmish, Stephanie Flanders is joined by Bloomberg’s Dan Ten Kate and Chris Kennedy to explore how the so-called middle powers are trying to diversify their economic and security relationships — and why Beijing’s export dominance, strategic ambitions and trust deficit mean there may be no easy alternative to an economically belligerent America.

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Can inflation in Japan be a sign of a healthier economy? On this week's episode of Trumponomics, Stephanie Flanders is joined by Taro Kimura, an economist with Bloomberg Economics, and Bloomberg News Senior Editor Chris Anstey to explore the potential cost and benefits of a weakening yen. Together, they examine Japan’s shift away from decades of deflation, why US Treasury Secretary Scott Bessent intervened to support the yen and how instability in Japan could spill over into US Treasury markets and raise American borrowing costs.

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Our Town from Bloomberg’s Big Take podcast follows residents of Gainesboro, Tennessee, after a group of far-right Christians moves in with plans for a radical social experiment. Listen to episode 1 here.

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Kevin Warsh has spent his first three months as chair of the Federal Reserve pretty tight-lipped about his views on the economy, a stark contrast to how central bank policymakers have traditionally communicated with market participants. On this episode, host Stephanie Flanders speaks with Bloomberg Opinion columnist Bill Dudley, a former president of the Federal Reserve Bank of New York, and Robin Brooks, senior fellow at the Brookings Institution and chief FX strategist at Goldman Sachs, about whether Warsh’s approach is a welcome change or another threat to the Fed's credibility.

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Why aren't we seeing the productivity boom the artificial intelligence industry has promised? Stephanie Flanders is joined by Oxford University professor and How Progress Ends author Carl Benedikt Frey to explore why rapid advances in AI haven't yet translated into stronger economic growth. Together they examine the productivity struggle, the race between the US and China for AI leadership and what history teaches us about technological revolutions.

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US President Donald Trump's trade war may be here to stay, despite the fact that billions of dollars in tariff revenue has been refunded to companies after the Supreme Court ruled his initial levies illegal. Stephanie Flanders is joined by Bloomberg senior writer Shawn Donnan and Anna Wong, chief US economist at Bloomberg Economics, to explore what if anything the policy has delivered for US manufacturing and the federal budget, and why the biggest consequences may be the ones no one predicted.

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As wealth becomes increasingly concentrated — and artificial intelligence threatens to shift even more income from workers to investors — has the US tax system become outdated? Stephanie Flanders speaks with Harvard professor Jason Furman, a former economic adviser to President Barack Obama, and Bloomberg reporter Caitlin Reilly about wealth taxes, capital gains, inheritance and whether taxing America's richest is politically or constitutionally possible.

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Americans are spending less time with friends, nights out are getting more expensive and even major sporting events are becoming harder to afford. Stephanie Flanders speaks with Bloomberg reporter Ben Steverman and economist and author Richard Layard about what the "fun shortage" says about the economy, rising inequality and whether loneliness is becoming a political and economic problem.

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A new, $2 trillion global arms race is underway — but this time it's being driven by artificial intelligence, drones and hypersonic weapons. Stephanie Flanders is joined by Becca Wasser, a geo-economics analyst with Bloomberg Economics, and Gerry Doyle, a senior editor for Bloomberg News, to explore how rising defense spending could reshape economies, redefine warfare and alter the future of global security.

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The economy may look resilient on paper, but voters aren't buying it. Bloomberg's senior national correspondent Nancy Cook and Stuart Paul, who covers the US and Canadian economies for Bloomberg Economics, break down why affordability, gas prices, and lingering economic anxiety could reshape the battle for Congress—and whether Republicans can change the narrative before November.

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Artificial intelligence is often discussed in terms of how many jobs it will eliminate, but Sarah O’Connor argues the biggest concern may be not what it does to the quantity of jobs, but the quality. Speaking on Bloomberg’s Trumponomics podcast about her new book, We Are Not Machines: The Fight for the Future of Work, the Financial Times columnist said AI and automation are increasingly reshaping jobs around the strengths and limitations of machines, leaving workers to perform narrower, less-rewarding tasks. 

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For 100 days, the world watched as one of its most important energy chokepoints got choked. Now, as the Iran war appears to be easing, Bloomberg Opinion columnist Javier Blas and Jamie Rush, Director of Global Economics, debate how quickly oil markets can recover, and what we've learned about China's growing influence over global energy demand.

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Almost a century after the Wall Street crash of 1929, Andrew Ross Sorkin says he believes some of its most dangerous ingredients are reappearing. Joining Stephanie Flanders on Trumponomics, the financial journalist and author of 1929: Inside the Greatest Crash in Wall Street History argues that today’s market is filled with “eerie parallels” to the late 1920s. These include a transformative new technology, a flood of retail investors and a growing willingness to loosen the rules.

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The idea of a “K-shaped economy” has become one of the most persistent themes about the US economy: While some households continue to thrive, in particular the wealthy ones, everyone else falls further behind. On this episode of Trumponomics, host Stephanie Flanders, Moody’s Analytics Chief Economist Mark Zandi and Bloomberg Economics’ Andrew Sacher explore whether that narrative is simply another way of describing that longer-term American phenomenon of inequality — or whether it points to a deeper vulnerability.

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A Gallup poll reported last year that just 15% of Americans said they had a great deal or quite a lot of confidence in big business, a record low. Since then, fear of artificial intelligence has made matters worse. So why is big business increasingly unpopular in Donald Trump's America? What does it tell us about the state of the nation and the long-term strength of the world's largest economy?

On this week's Trumponomics, host Stephanie Flanders explores those questions with Bloomberg Opinion global business columnist Adrian Wooldridge. He says the root of this malaise may be a US corporate culture that's shifted from genuine risk-taking entrepreneurship toward a mix of oligarchic tech elites and bloated bureaucracies, fueled by market concentration and declining competition. Later, Flanders and Wooldridge explore whether AI will in turn disrupt these dominant firms or further entrench their power — and what the backlash against tech could mean for politics, capitalism and American democracy.

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Across developed markets, bond markets are staging a slow-motion car wreck. As Opinion columnist and senior markets editor John Authers puts it, the phenomenon is truly global. Authers and Robin J. Brooks, a senior fellow at the Brookings Institution and former chief economist at the Institute of International Finance, join host Stephanie Flanders to explain why investors have turned sharply against government bonds across the world’s major developed economies — and how the fallout could affect us all.

Read John Authers's column here: 
https://www.bloomberg.com/opinion/newsletters/2026-05-19/the-great-bond-car-wreck-in-slow-motion

And find Robin J. Brooks's substack here: 
https://robinjbrooks.substack.com/p/liz-truss-bond-market-blow-ups

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Sebastian Mallaby of the Council on Foreign Relations and author of The Infinity Machine: Demis Hassabis, DeepMind and the Quest for Superintelligence joins host Stephanie Flanders. He says Chinese AI is closing the gap—and that means Washington can’t afford to ignore safety talks.

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As a high-stakes Trump–Xi summit looms, tensions over the Iran war and defiance of US sanctions threaten to derail what could be one of the year’s most consequential meetings. Stephanie Flanders is joined by Jennifer Welch, chief geoeconomics analyst for Bloomberg Economics and Bloomberg News executive editor Dan Ten Kate to unpack whether the talks will happen—and what’s really at stake for the global economy if they do.

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On the day of what could be Jerome Powell’s final Federal Reserve meeting as chair, Trumponomics shifts focus from a largely uneventful near-term outlook for rates to a more consequential question: what comes next under Kevin Warsh, Donald Trump’s pick to lead the central bank. 

Host Stephanie Flanders is joined by Krishna Guha, Vice Chairman and Head of Economics and Central Bank Strategy at Evercore ISI. 

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A new artificial intelligence model blindsided policymakers at meetings of the International Monetary Fund, raising fears of faster, more-sophisticated cyberattacks on the global financial system. But the same technology also is being touted by its builders as the most powerful defense banks could have. On this week’s episode of Trumponomics, host Stephanie Flanders and guests Michael Deng, geoeconomics technology analyst at Bloomberg Economics, and Bloomberg News reporter Laura Noonan break down why Mythos, Anthropic’s most powerful AI model, is sparking both panic and optimism in boardrooms and across governments—and what it means for the security of the global financial system.

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It’s now been one year since Donald Trump’s sweeping attempt at global tariffs, and the economic fallout has been more nuanced than either critics or supporters predicted. On this episode of the Trumponomics podcast, host Stephanie Flanders speaks with Anna Wong of Bloomberg Economics and Oren Cass of the conservative think tank American Compass about a US economy that, in many respects, has proven unexpectedly resilient. Growth hasn’t collapsed, inflation hasn’t spiked and the president’s April 2025 tariffs (most of which were struck down in February by the Supreme Court) generated substantial federal revenue. The debate now centers on whether it will make a difference when it comes to Trump’s stated goal: reviving US manufacturing.

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On this episode of Trumponomics, host Stephanie Flanders examines how the US-Israel war with Iran has choked one of the world’s most vital shipping routes and tested the foundations of global trade. With traffic through the Strait of Hormuz severely constrained and hundreds of vessels backed up, the disruption is pushing up energy prices and raising fresh concerns about the reliability of supply chains. Bloomberg Global Trade Editor Brendan Murray and Africa and Middle East Correspondent Peter Martin join to unpack the economic fallout and geopolitical stakes.

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On this episode of Trumponomics, host Stephanie Flanders examines how the US-Israel war with Iran has presented China with two golden opportunities. The conflict provides Beijing with a chance to both widen its global diplomatic sway as the “adult in the room” and study the military tactics of its chief rival in real-time. Flanders is joined by Bloomberg's Fran Wang, who has spent almost two decades in China covering fiscal policy and economic planning, and Adam Farrar, Bloomberg Economics’ senior geoeconomics analyst for Asia-Pacific and a former adviser to US Vice President Kamala Harris, to unpack the geopolitical and economic implications of the crisis.

While the Iran war presents near-term risks to China’s economy, they say, the long-term benefits could be far reaching.

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A month into the US–Israel war with Iran, the global economy is already feeling the strain — such as surging oil prices and shifting interest rate expectations. Host Stephanie Flanders speaks with Tom Orlik and Dina Esfandiary from the Bloomberg Economics team about how Iran has managed to turn economic pressure into strategic leverage, complicating the outlook for President Donald Trump and raising the risk of prolonged instability.

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Stephanie Flanders sits down with Nobel Prize–winning economist Daron Acemoglu to unpack one of the most urgent questions facing the global economy: how is artificial intelligence changing the future of work, and what are the potentially dire consequences for society and democracy?

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Everything we think we know about recessions is wrong—or at least mostly wrong—according to ExxonMobil Chief Economist Tyler Goodspeed. He argues downturns aren’t the inevitable result of overheated booms and don’t arrive simply because expansions last too long. In his new book, Recession: The Real Reasons Economies Shrink and What to Do About It, which spans 350 years of US and UK economic history, Goodspeed contends recessions are typically the product of sudden, overlapping shocks—particularly to energy and food—that derail otherwise healthy expansions.

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Oil and gas traders are confronting a potential worst-case scenario after the US-Israeli strike on Iran Saturday: the Strait of Hormuz is effectively paralyzed, Saudi Arabia’s largest refinery is shut and Iran has hit Qatar’s giant liquified natural gas export facility.

On this week’s episode of Trumponomics, host Stephanie Flanders speaks to Bloomberg Opinion columnist Javier Blas and Ziad Daoud, chief emerging markets economist for Bloomberg Economics. Together they unpack the unsettlingly wide range of outcomes from the war, and how Russia will gain economically the longer the conflict continues.

Read more: 
https://www.bloomberg.com/opinion/articles/2026-03-04/iran-war-the-most-precious-commodity-is-water-not-oil

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On this bonus episode, Chancellor Rachel Reeves says Britain's pending trade deal with the US won't affect its view on the conflict with Iran, as she discusses the UK's economic future. The chancellor sat down with Bloomberg's Head of Economics and Government Stephanie Flanders after issuing her Spring Statement on Tuesday, as she seeks to convince markets and voters that Britain’s public finances are resilient enough to weather the fallout from the conflict in Iran and rising global energy prices.

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'Bloomberg This Weekend' features unique conversations on business, news, lifestyle and culture. Join David Gura, Christina Ruffini and Lisa Mateo Saturdays and Sundays for discussions with business leaders, lawmakers and cultural icons.  

Watch the show LIVE on Bloomberg Television from 7AM-10AM Eastern Time.   
Listen to the show LIVE on Bloomberg Radio from 7AM-10AM Eastern Time.   

Listen to the Podcast for the best conversations from the show.   
Subscribe on Apple:
https://podcasts.apple.com/us/podcast/bloomberg-this-weekend/id1878739308
Subscribe on Spotify:
https://open.spotify.com/show/5DQ8CEg9LeS1xGJSaxt47l

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On this episode of Trumponomics, host Stephanie Flanders speaks with Josh Green, national correspondent at Bloomberg Businessweek, and Anna Wong, chief US economist for Bloomberg Economics, about President Donald Trump’s upbeat economic message during his State of the Union address and the reality on the ground. Affordability fears remain despite government data indicating slowing inflation, and the Supreme Court ruling upending Trump's tariff strategy has thrown fresh uncertainty into the mix. Our guests ask whether those numbers will outweigh shaky consumer sentiment, tariff turmoil and growing anxiety over artificial intelligence ahead of the midterms.

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Host Stephanie Flanders is joined by Bloomberg News Editor in Chief John Micklethwait and Jennifer Welch, chief geoeconomics analyst for Bloomberg Economics, to unpack the Munich Security Conference and what it revealed about the shifting global order. From Secretary of State Marco Rubio’s rising influence inside the US administration to Europe’s rethinking of nuclear deterrence and ties with China, the conversation explores how Trump has reshaped alliances.

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Donald Trump has been touting his pick to replace Fed Chair Jerome Powell as an economic boon, claiming Kevin Warsh will help deliver an improbable 15% rate of US growth. But financial markets will likely be content with something less hyperbolic: reassurance he won’t simply do the president’s bidding.

The former Fed governor’s nomination initially sent yields and the dollar higher while knocking gold sharply lower, moves consistent with expectations of a tougher line on inflation and a smaller central bank balance sheet. But on this week’s episode of Trumponomics, Evercore ISI Vice Chairman Krishna Guha argues that investors may be over-interpreting Warsh’s hawkish reputation.

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Donald Trump returned to office promising once again to rein in China’s economic rise. Instead, his first year back has delivered Xi Jinping something close to the opposite: a world more open to Chinese exports, more willing to hedge against Washington and increasingly uncertain about the reliability of the US or its commitments.

On this episode of Trumponomics, host Stephanie Flanders speaks with Lowy Institute Senior Fellow Richard McGregor and Bloomberg Executive Editor Dan Ten Kate about how the US president’s unpredictable and often combative diplomacy has given the Chinese president more room to maneuver—all without forcing Beijing to change its export-heavy, state-driven economic model.

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Nigel Farage sits down with Stephanie Flanders on the sidelines of the World Economic Forum in Davos to argue that Brexit and Donald Trump weren’t shocks, but the opening chapters of a global shift away from consensus politics and globalization. From US growth and NATO to China, energy and Britain’s post-European Union future, Farage lays out his vision of "national interest" in a fractured world.

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At the World Economic Forum in Davos, Donald Trump’s return is forcing allies, executives and investors to rethink how they deal with an economic superpower that keeps everything “on the table.”

In this episode of Trumponomics, host Stephanie Flanders, Bloomberg News Editor in Chief John Micklethwait, Bloomberg Television host Annmarie Hordern and Sridhar Natarajan, Bloomberg News’ chief Wall Street correspondent, examine whether Europe is finally prepared to push back after a year of accommodating tariffs, trade threats and now even territorial claims while Trump scrambles to address an affordability crisis at home while pushing a business-friendly approach to AI abroad. The conversation explores how this historic divergence from rules-based economics is reshaping global alliances, US corporate strategy and the future of both US markets and the world economy.

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Host Stephanie Flanders, Bloomberg’s head of government and economics, is joined by Anna Wong, chief US economist for Bloomberg Economics, and Bloomberg News senior Washington correspondent Saleha Mohsin to unpack the political backlash sparked by the Trump administration's criminal probe into Fed Chair Jerome Powell, including rare pushback from a few Republican lawmakers and Donald Trump’s own Treasury secretary. The discussion explores how the move, which Powell says is over monetary policy rather than building renovations, could backfire by hardening his resolve, complicating Trump’s plans to install a new Fed chair and his attempts to force interest rate cuts.

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This week, Stephanie Flanders examines the economic fallout of the US attack on Venezuela and Washington asserting effective control over the South American country. The discussion focuses on what this means for global oil markets, US economic power and the rules-based international order. Javier Blas, a columnist for Bloomberg Opinion and energy expert, and Bloomberg Economics analyst Chris Kennedy, who served as a member of Secretary of State Marco Rubio’s policy planning staff, explain how access to Venezuela’s vast oil reserves could give the US unprecedented leverage over energy prices and foreign policy. They also analyze how it increases geopolitical instability and may help, or hinder, Trump's domestic political goals.

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Host Stephanie Flanders is joined by Bloomberg Economics Chief Economist Tom Orlik, Bloomberg Opinion columnist Parmy Olson and Bloomberg News US politics editor Mario Parker to look back at a chaotic 2025—marked by Donald Trump’s messy April tariff rollout and a presidency defined by seemingly deliberate uncertainty—and ask what it means for 2026.

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How are rising insurance costs—both health and automotive—becoming a major driver of the affordability crisis spreading across America? And what are the implications for next year’s midterm elections? Bloomberg reporter Rachel Cohrs Zhang, who covers health policy, and Boston Bureau Chief Brooke Sutherland join to discuss. 

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When the Trump administration posted its 29-page national security strategy on Dec. 5, it presented foreign governments with a jarring reinterpretation of America’s place in the world and how it sees traditional allies. On this episode of Trumponomics, host Stephanie Flanders, along with Adam Farrar, senior geoeconomics analyst for Bloomberg Economics, and Shawn Donnan of Bloomberg News, discusses how the White House broadside appears to reorder US priorities. In particular, they analyze its clear message that—to Donald Trump—economic power isn’t just a component of US national security; it is national security.

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US President Donald Trump may soon name Kevin Hassett as the next Fed chair, subject to Senate confirmation. So what happens if he gets the job when Jerome Powell's term ends next year? On this episode of Trumponomics, host Stephanie Flanders, Bloomberg Economics Chief US Economist Anna Wong and Washington correspondent Saleha Mohsin unpack why Hassett has emerged as the likely pick, and what it could mean for markets, interest rates and the Fed’s independence.

For more, Anna Wong's Interview with Kevin Hassett: 
https://www.youtube.com/watch?v=ECFNeNqKQOM

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On this episode of Trumponomics, host Stephanie Flanders sits down with Singapore Foreign Minister Vivian Balakrishnan to unpack the shifting dynamics of global trade in an era of US protectionism and rising geopolitical tension.

From Donald Trump' retreat from America's postwar role to the deepening lack of trust between Washington and Beijing, Balakrishnan explains why today’s economic disruptions are less a sudden storm than “geopolitical climate change.” Yet amid fractured supply chains and rising uncertainty, he offers a note of optimism—highlighting how Asia, Europe and other mid-sized economies are forging new alliances to keep globalization alive.

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On this week’s episode of Trumponomics, host Stephanie Flanders, Bloomberg’s head of government and economics, dives into what she calls “the curious case of the everywhere, nowhere tariffs.”

Since President Donald Trump’s return to the White House, his sweeping new trade levies—pitched as a way to “liberate” the US economy—have dominated headlines and whipsawed markets. But where are the real effects? Flanders is joined by Anna Wong, Bloomberg Economics’ chief US economist, and Brad Setser, senior fellow at the Council on Foreign Relations, to untangle who’s actually paying for these tariffs, how they have affected the US economy so far, and whether there’s any evidence they’re accomplishing any of Trump’s stated goals.

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On this week’s Trumponomics, host Stephanie Flanders explores how Democrats are repurposing President Donald Trump’s 2024 campaign theme—affordability—as their own political cudgel, and whether it could lead to more victories in 2026. Bloomberg political correspondent Nancy Cook and The Atlantic writer Annie Lowrey join to unpack the politics and policy behind America’s enduring cost-of-living crisis.

Read more: https://www.bloomberg.com/news/articles/2025-11-07/government-shutdown-mamdani-win-show-us-politics-is-about-affordability

https://www.theatlantic.com/ideas/archive/2020/02/great-affordability-crisis-breaking-america/606046/

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