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.

See omnystudio.com/listener for privacy information.

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.

See omnystudio.com/listener for privacy information.

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.

See omnystudio.com/listener for privacy information.