The U.S. election dominated the news agenda this year, and the two people at the center of Donald Trump’s win came up in nearly every conversation yesterday at the DealBook Summit. The president-elect and Elon Musk may not have been in the room, but questions about how they will shape business and politics were front and center.
The general view of the day was cautious optimism, even among those who had publicly criticized Trump and Musk — or been targeted by them.
But many questions remain. What will Trump and Musk mean for government, business and the economy? Will they succeed in cutting regulation and government spending? And will they go after their perceived enemies and rivals?
Here are four big themes from this year’s event.
What will happen with the economy?Most of the speakers were willing to give Trump the benefit of the doubt, or at least played down worries about his most disruptive policy ideas.
Jay Powell, the Fed chair, addressed one of the biggest questions hanging over the next administration: Will the president-elect go after the central bank’s independence? No, Powell said emphatically. The Fed, he said, was created by Congress and its autonomy is “the law of the land.”
“There is very, very broad support for that set of ideas in Congress in both political parties, on both sides of the Hill, and that’s what really matters,” he said.
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