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class="o-message__content-main">An interactive graphic failed to load. This is most likely due to being offline or JavaScript being disabled in your browser.</p></div></div></div></a></figure></div><div class="container container--w-div flow-row"><div class="container__item flow-ln-1"><div class="o-teaser o-teaser--top-story o-teaser--landscape o-teaser--has-image js-teaser" data-id="545e6b10-7860-401b-8573-fd27fd67078a"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/federal-reserve" aria-label="Category: Federal Reserve">Federal Reserve</a></div><div class="o-teaser__heading"><a href="/content/545e6b10-7860-401b-8573-fd27fd67078a" data-trackable="heading-link" class="js-teaser-heading-link">Trump says he will not remove Jay Powell from Fed before term ends</a></div><p class="o-teaser__standfirst"><a href="/content/545e6b10-7860-401b-8573-fd27fd67078a" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">President-elect also does not rule out higher inflation as a result of his tariffs</a></p></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/545e6b10-7860-401b-8573-fd27fd67078a" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F56178a0c-9222-44f4-acca-57d42c6ba373.jpg?source=next&fit=scale-down&dpr=2&width=640" alt=""/></div></a></div></div></div><div class="container__item flow-ln-2 LX:flow-ln-4"><div class="o-teaser o-teaser--small o-teaser--stacked o-teaser--has-image js-teaser" data-id="c5666be2-84f1-4a29-a6ed-c5d999f384b9"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/us-politics-policy" aria-label="Category: US politics & policy">US politics & policy</a></div><div class="o-teaser__heading"><a href="/content/c5666be2-84f1-4a29-a6ed-c5d999f384b9" data-trackable="heading-link" class="js-teaser-heading-link">Republicans who oppose Trump face risk of retaliation from Musk</a></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/c5666be2-84f1-4a29-a6ed-c5d999f384b9" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fc4dc13c4-0aa2-435b-b41e-4ac95eb0e9ef.jpg?source=next&fit=scale-down&dpr=2&width=340" alt=""/></div></a></div></div></div><div class="container__item flow-ln-2 LX:flow-ln-4"><div class="o-teaser o-teaser--small o-teaser--stacked o-teaser--has-image js-teaser" data-id="5f962d83-01d8-4a2d-9d36-a1bfed400c00"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/us-presidential-election-2024" aria-label="Category: US presidential election 2024">US presidential election 2024</a></div><div class="o-teaser__heading"><a href="/content/5f962d83-01d8-4a2d-9d36-a1bfed400c00" data-trackable="heading-link" class="js-teaser-heading-link">Musk donated more than $250mn to Trump campaign, electoral filings show</a></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/5f962d83-01d8-4a2d-9d36-a1bfed400c00" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F053db399-2b58-4ad4-8c6f-f4f92a6e9442.jpg?source=next&fit=scale-down&dpr=2&width=340" alt=""/></div></a></div></div></div><div class="container__item flow-ln-2 LX:flow-ln-4"><div class="o-teaser o-teaser--small o-teaser--stacked o-teaser--has-image js-teaser" data-id="f5dc6972-b135-470b-8940-17e28c6ad02e"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/us-politics-policy" aria-label="Category: US politics & policy">US politics & policy</a></div><div class="o-teaser__heading"><a href="/content/f5dc6972-b135-470b-8940-17e28c6ad02e" data-trackable="heading-link" class="js-teaser-heading-link">Trump picks Musk ally David Sacks as crypto and AI tsar</a></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/f5dc6972-b135-470b-8940-17e28c6ad02e" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Feabc0c39-79d6-4a1f-8691-5280b6eece90.jpg?source=next&fit=scale-down&dpr=2&width=340" alt=""/></div></a></div></div></div><div class="container__item flow-ln-2 LX:flow-ln-4"><div class="o-teaser o-teaser--small o-teaser--stacked o-teaser--has-image js-teaser" data-id="48dc3c6d-77ac-4d3d-96fa-744e74bec903"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/us-politics-policy" aria-label="Category: US politics & policy">US politics & policy</a></div><div class="o-teaser__heading"><a href="/content/48dc3c6d-77ac-4d3d-96fa-744e74bec903" data-trackable="heading-link" class="js-teaser-heading-link">Donald Trump rounds out economic team after tariff threats</a></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/48dc3c6d-77ac-4d3d-96fa-744e74bec903" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fa97f9c6f-c8a1-4e35-8baf-a8c3a3c0b83a.jpg?source=next&fit=scale-down&dpr=2&width=340" alt=""/></div></a></div></div></div></div><h2 class="o-teaser-collection__heading heading-level--h2" id="--opinion--analysis">Opinion & Analysis</h2><div class="container container--w-div flow-row"><div class="container__item flow-ln-2 LX:flow-ln-4"><div class="o-teaser o-teaser--small o-teaser--stacked o-teaser--has-image o-teaser--opinion js-teaser" data-id="dc8e7e08-1913-4f5a-be57-1c3c62f46d41"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stream/29cd35b2-bbfb-4a4c-9b2a-5bddbcde7ee7" aria-label="Category: Jemima Kelly">Jemima Kelly</a></div><div class="o-teaser__heading"><a href="/content/dc8e7e08-1913-4f5a-be57-1c3c62f46d41" data-trackable="heading-link" class="js-teaser-heading-link">Democrats must not abandon their morals</a></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/dc8e7e08-1913-4f5a-be57-1c3c62f46d41" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F9b5aa066-64fb-4155-be85-da54b68f456b.jpg?source=next&fit=scale-down&dpr=2&width=340" alt=""/></div></a></div></div></div><div class="container__item flow-ln-2 LX:flow-ln-4"><div class="o-teaser o-teaser--small o-teaser--stacked o-teaser--has-image o-teaser--opinion js-teaser" data-id="b60da28d-146c-4bba-b7d9-c17af88c39ed"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">The FT View</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/ft-view" aria-label="Category: The editorial board">The editorial board</a></div><div class="o-teaser__heading"><a href="/content/b60da28d-146c-4bba-b7d9-c17af88c39ed" data-trackable="heading-link" class="js-teaser-heading-link">The use and misuse of the presidential pardon</a></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/b60da28d-146c-4bba-b7d9-c17af88c39ed" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fe15890b9-bf85-41b1-b6dc-64dff0433536.jpg?source=next&fit=scale-down&dpr=2&width=340" alt=""/></div></a></div></div></div><div class="container__item flow-ln-2 LX:flow-ln-4"><div class="o-teaser o-teaser--small o-teaser--stacked o-teaser--has-image o-teaser--opinion js-teaser" data-id="b45e0749-46f3-47ba-a0a8-eaae69a49bcd"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/edward-luce" aria-label="Category: Edward Luce">Edward Luce</a></div><div class="o-teaser__heading"><a href="/content/b45e0749-46f3-47ba-a0a8-eaae69a49bcd" data-trackable="heading-link" class="js-teaser-heading-link">Joe Biden’s selfish parting act</a></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/b45e0749-46f3-47ba-a0a8-eaae69a49bcd" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fcf96ed6a-f248-48d6-a7bd-a7f53b8a1d0b.jpg?source=next&fit=scale-down&dpr=2&width=340" alt=""/></div></a></div></div></div><div class="container__item flow-ln-2 LX:flow-ln-4"><div class="o-teaser o-teaser--small o-teaser--stacked o-teaser--has-image o-teaser--opinion js-teaser" data-id="b8f82faf-1499-45bf-9d70-c73b3bff72f0"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/rana-foroohar" aria-label="Category: Rana Foroohar">Rana Foroohar</a></div><div class="o-teaser__heading"><a href="/content/b8f82faf-1499-45bf-9d70-c73b3bff72f0" data-trackable="heading-link" class="js-teaser-heading-link">Trump is playing high-stakes poker on tariffs</a></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/b8f82faf-1499-45bf-9d70-c73b3bff72f0" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F259e167a-058f-4e7e-98fa-ed88d0e579ec.jpg?source=next&fit=scale-down&dpr=2&width=340" alt=""/></div></a></div></div></div></div><h2 class="o-teaser-collection__heading heading-level--h2" id="--explainers">Explainers</h2><div class="container container--w-div flow-row"><div class="container__item flow-ln-2 LX:flow-ln-4"><div class="o-teaser o-teaser--small o-teaser--stacked o-teaser--has-image js-teaser" data-id="1fb6ab71-0466-4717-aabc-8000cafb13b4"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">News in-depth</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/us-presidential-election-2024" aria-label="Category: US presidential election 2024">US presidential election 2024</a></div><div class="o-teaser__heading"><a href="/content/1fb6ab71-0466-4717-aabc-8000cafb13b4" data-trackable="heading-link" class="js-teaser-heading-link">Trump unleashed: what a second term will bring</a></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/1fb6ab71-0466-4717-aabc-8000cafb13b4" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F56bf8ab0-321d-4f8b-aa6b-3a92c05a0519.jpg?source=next&fit=scale-down&dpr=2&width=340" alt=""/></div></a></div></div></div><div class="container__item flow-ln-2 LX:flow-ln-4"><div class="o-teaser o-teaser--small o-teaser--stacked o-teaser--has-image js-teaser" data-id="206b7a4a-5aa8-4f68-91c4-1dee12d17a97"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Explainer</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/us-politics-policy" aria-label="Category: US politics & policy">US politics & policy</a></div><div class="o-teaser__heading"><a href="/content/206b7a4a-5aa8-4f68-91c4-1dee12d17a97" data-trackable="heading-link" class="js-teaser-heading-link">Trump’s cabinet picks: key players in the president-elect’s administration</a></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/206b7a4a-5aa8-4f68-91c4-1dee12d17a97" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F90d038db-791c-4c50-9b42-6fd740bddf5b.jpg?source=next&fit=scale-down&dpr=2&width=340" alt=""/></div></a></div></div></div><div class="container__item flow-ln-2 LX:flow-ln-4"><div class="o-teaser o-teaser--small o-teaser--stacked o-teaser--has-image js-teaser" data-id="3c444390-d516-4211-bb33-565688dc9cb0"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Explainer</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/donald-trump" aria-label="Category: Donald Trump">Donald Trump</a></div><div class="o-teaser__heading"><a href="/content/3c444390-d516-4211-bb33-565688dc9cb0" data-trackable="heading-link" class="js-teaser-heading-link">What will happen to Trump’s criminal cases now that he has won?</a></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/3c444390-d516-4211-bb33-565688dc9cb0" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F4ccb258a-01c4-4cd4-a59b-7e8e8bdb8776.jpg?source=next&fit=scale-down&dpr=2&width=340" alt=""/></div></a></div></div></div><div class="container__item flow-ln-2 LX:flow-ln-4"><div class="o-teaser o-teaser--small o-teaser--stacked o-teaser--has-image js-teaser" data-id="b446937d-6ab8-4264-b818-aa30633ca189"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">News in-depth</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/us-presidential-election-2024" aria-label="Category: US presidential election 2024">US presidential election 2024</a></div><div class="o-teaser__heading"><a href="/content/b446937d-6ab8-4264-b818-aa30633ca189" data-trackable="heading-link" class="js-teaser-heading-link">How Trump will handle US foreign policy</a></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/b446937d-6ab8-4264-b818-aa30633ca189" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fc147ee1c-604f-4a4c-a0ac-1d4039b6fc24.jpg?source=next&fit=scale-down&dpr=2&width=340" alt=""/></div></a></div></div></div></div><h2 class="o-teaser-collection__heading heading-level--h2" id="--white-house-watch-newsletter">White House Watch newsletter</h2><div class="container container--w-div flow-row"><div class="container__item flow-ln-2 LX:flow-ln-4"><div class="o-teaser o-teaser--small o-teaser--stacked o-teaser--has-image js-teaser" data-id="ac58c5aa-fe0d-499a-bcbc-4b1d020019e3"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/white-house-watch" aria-label="Category: White House Watch">White House Watch</a></div><div class="o-teaser__heading"><a href="/content/ac58c5aa-fe0d-499a-bcbc-4b1d020019e3" data-trackable="heading-link" class="js-teaser-heading-link">Trump rushes to meet Putin’s demands on Ukraine</a></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/ac58c5aa-fe0d-499a-bcbc-4b1d020019e3" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder"><img class="o-teaser__image" 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They could have edited themselves into an advisory body"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-02-09T05:14:12.058Z">Sunday, 9 February, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="9860cba8-f018-452f-9181-6e37695dba50" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="9860cba8-f018-452f-9181-6e37695dba50"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/donald-trump" aria-label="Category: Donald Trump">Donald Trump</a></div><div class="o-teaser__heading"><a href="/content/9860cba8-f018-452f-9181-6e37695dba50" data-trackable="heading-link" class="js-teaser-heading-link">Trump revokes Biden’s security clearance</a></div><p class="o-teaser__standfirst"><a href="/content/9860cba8-f018-452f-9181-6e37695dba50" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">President delivers payback for having his own privileges pulled by predecessor over January 6 riots</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="9860cba8-f018-452f-9181-6e37695dba50" data-myft-ui="saved" action="/myft/save/9860cba8-f018-452f-9181-6e37695dba50" data-js-action="/__myft/api/core/saved/content/9860cba8-f018-452f-9181-6e37695dba50?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" 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alt="Trump, First Lady Melania Trump, Joe Biden and Jill Biden after the swearing-in ceremony on January 20,"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-02-06T10:42:33.095Z">Thursday, 6 February, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="502f45d1-d34a-45d0-bbae-b3b2a746010c" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="502f45d1-d34a-45d0-bbae-b3b2a746010c"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/markets-volatility" aria-label="Category: Markets volatility">Markets volatility</a></div><div class="o-teaser__heading"><a href="/content/502f45d1-d34a-45d0-bbae-b3b2a746010c" 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View</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/ft-view" aria-label="Category: The editorial board">The editorial board</a></div><div class="o-teaser__heading"><a href="/content/0b21728f-1e6b-43c6-882e-ef8454f00940" data-trackable="heading-link" class="js-teaser-heading-link">The TikTok test for Trump’s corporate America</a></div><p class="o-teaser__standfirst"><a href="/content/0b21728f-1e6b-43c6-882e-ef8454f00940" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">App’s fate should be determined by rule of law, not the dealings of a president</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="0b21728f-1e6b-43c6-882e-ef8454f00940" data-myft-ui="saved" action="/myft/save/0b21728f-1e6b-43c6-882e-ef8454f00940" data-js-action="/__myft/api/core/saved/content/0b21728f-1e6b-43c6-882e-ef8454f00940?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" 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class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/white-house-watch" aria-label="Category: White House Watch">White House Watch</a></div><div class="o-teaser__heading"><a href="/content/b19db761-b85f-43c9-8486-ef7eccac5b79" data-trackable="heading-link" class="js-teaser-heading-link">Will Trump’s fight against the ‘deep state’ upend government?</a></div><p class="o-teaser__standfirst"><a href="/content/b19db761-b85f-43c9-8486-ef7eccac5b79" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Also in today’s newsletter, why the first few days of Trump’s presidency have left China cautiously optimistic </a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="b19db761-b85f-43c9-8486-ef7eccac5b79" data-myft-ui="saved" action="/myft/save/b19db761-b85f-43c9-8486-ef7eccac5b79" 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data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="e11b77b4-eb8a-438c-ba74-39715781bf35" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="e11b77b4-eb8a-438c-ba74-39715781bf35"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/janan-ganesh" aria-label="Category: Janan Ganesh">Janan Ganesh</a></div><div class="o-teaser__heading"><a href="/content/e11b77b4-eb8a-438c-ba74-39715781bf35" data-trackable="heading-link" class="js-teaser-heading-link">The strange liberal nonchalance about Trump’s return</a></div><p class="o-teaser__standfirst"><a href="/content/e11b77b4-eb8a-438c-ba74-39715781bf35" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Having supposedly worried too much about him last time, people are overcorrecting</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui 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data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-22T05:00:25.996Z">Wednesday, 22 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="e6a776da-bd32-41d4-b093-68df8850e448" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="e6a776da-bd32-41d4-b093-68df8850e448"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stream/b564e2c2-40f1-4d00-b3cf-6fdacbf9ab6c" aria-label="Category: Cryptocurrencies">Cryptocurrencies</a></div><div class="o-teaser__heading"><a href="/content/e6a776da-bd32-41d4-b093-68df8850e448" data-trackable="heading-link" class="js-teaser-heading-link">Crypto executives fear investor backlash over Trump memecoins</a></div><p class="o-teaser__standfirst"><a href="/content/e6a776da-bd32-41d4-b093-68df8850e448" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Industry trying to rebuild its reputation frets over potential conflicts of interest and investor losses</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="e6a776da-bd32-41d4-b093-68df8850e448" data-myft-ui="saved" action="/myft/save/e6a776da-bd32-41d4-b093-68df8850e448" data-js-action="/__myft/api/core/saved/content/e6a776da-bd32-41d4-b093-68df8850e448?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Crypto executives fear investor backlash over Trump memecoins to myFT for later" aria-label="Save Crypto executives fear investor backlash over 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Service at the Washington National Cathedral on Tuesday"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-21T16:14:27.388Z">Tuesday, 21 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="d5141418-6827-4027-92f2-138b43315e31" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="d5141418-6827-4027-92f2-138b43315e31"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/donald-trump" aria-label="Category: Donald Trump">Donald Trump</a></div><div class="o-teaser__heading"><a href="/content/d5141418-6827-4027-92f2-138b43315e31" data-trackable="heading-link" class="js-teaser-heading-link">Trump threatens 25% tariff within days for Mexico and Canada</a></div><p class="o-teaser__standfirst"><a href="/content/d5141418-6827-4027-92f2-138b43315e31" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Barrage of executive orders resets domestic and foreign policy as new president promises ‘golden age’ for US</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="d5141418-6827-4027-92f2-138b43315e31" data-myft-ui="saved" action="/myft/save/d5141418-6827-4027-92f2-138b43315e31" data-js-action="/__myft/api/core/saved/content/d5141418-6827-4027-92f2-138b43315e31?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" 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data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fa67aba51-b483-40d1-b080-eeb1eba6b6a0.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Donald Trump"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-21T14:00:32.754Z">Tuesday, 21 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="fb78e6e7-ccfc-4b67-97a2-c4374be5870e" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="fb78e6e7-ccfc-4b67-97a2-c4374be5870e"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/white-house-watch" aria-label="Category: White House Watch">White House Watch</a></div><div class="o-teaser__heading"><a href="/content/fb78e6e7-ccfc-4b67-97a2-c4374be5870e" data-trackable="heading-link" class="js-teaser-heading-link">Trump’s first day: tariff threats and a flurry of executive orders</a></div><p class="o-teaser__standfirst"><a href="/content/fb78e6e7-ccfc-4b67-97a2-c4374be5870e" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Also in today’s newsletter, the competing factions of the Republican party </a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="fb78e6e7-ccfc-4b67-97a2-c4374be5870e" data-myft-ui="saved" action="/myft/save/fb78e6e7-ccfc-4b67-97a2-c4374be5870e" data-js-action="/__myft/api/core/saved/content/fb78e6e7-ccfc-4b67-97a2-c4374be5870e?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" 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style="padding-bottom:56.2413%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fd6693a08-5f96-4a3e-b5a4-87eeba249fbc.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="President Donald Trump signs executive orders in the Oval Office of the White House on January 20"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-21T12:34:23.410Z">Tuesday, 21 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="2b511026-0dd0-425d-b14c-ba130f0a6f95" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="2b511026-0dd0-425d-b14c-ba130f0a6f95"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stream/3de2fad0-44c8-492f-9b62-7e1374292a9e" aria-label="Category: JPMorgan Chase & Co">JPMorgan Chase & Co</a></div><div class="o-teaser__heading"><a href="/content/2b511026-0dd0-425d-b14c-ba130f0a6f95" data-trackable="heading-link" class="js-teaser-heading-link">US banks in ‘go-mode’ under Trump, says JPMorgan executive</a></div><p class="o-teaser__standfirst"><a href="/content/2b511026-0dd0-425d-b14c-ba130f0a6f95" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Wall Street bets that new administration’s lighter-touch regulatory regime will spur dealmaking</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="2b511026-0dd0-425d-b14c-ba130f0a6f95" data-myft-ui="saved" action="/myft/save/2b511026-0dd0-425d-b14c-ba130f0a6f95" 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</form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/2b511026-0dd0-425d-b14c-ba130f0a6f95" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2691%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F2fd56290-13aa-4ada-a9ee-a6fdae80752c.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Mary Erdoes, centre, pictured at the World Economic Forum on Tuesday"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-21T10:50:21.391Z">Tuesday, 21 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="660b35f7-32f5-4998-b473-1589dfba4fbc" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="660b35f7-32f5-4998-b473-1589dfba4fbc"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/firstft" aria-label="Category: FirstFT">FirstFT</a></div><div class="o-teaser__heading"><a href="/content/660b35f7-32f5-4998-b473-1589dfba4fbc" data-trackable="heading-link" class="js-teaser-heading-link">FirstFT: Trump renews tariff threats sending shockwaves through global markets </a></div><p class="o-teaser__standfirst"><a href="/content/660b35f7-32f5-4998-b473-1589dfba4fbc" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Also in today’s newsletter, Panama responds to Trump’s threat to take back the Panama Canal and Ray Dalio on UK’s ‘debt death spiral’</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" 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data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-21T00:10:23.623Z">Tuesday, 21 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="48ebc480-b01b-423a-afde-016f91f9ff1c" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="48ebc480-b01b-423a-afde-016f91f9ff1c"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/us-politics-policy" aria-label="Category: US politics & policy">US politics & policy</a></div><div class="o-teaser__heading"><a href="/content/48ebc480-b01b-423a-afde-016f91f9ff1c" data-trackable="heading-link" class="js-teaser-heading-link">The key moments in Trump’s big speech</a></div><p class="o-teaser__standfirst"><a href="/content/48ebc480-b01b-423a-afde-016f91f9ff1c" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">The president made a lot of promises, from more drilling to renaming the Gulf of Mexico</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="48ebc480-b01b-423a-afde-016f91f9ff1c" data-myft-ui="saved" action="/myft/save/48ebc480-b01b-423a-afde-016f91f9ff1c" data-js-action="/__myft/api/core/saved/content/48ebc480-b01b-423a-afde-016f91f9ff1c?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save The key moments in Trump’s big speech to myFT for later" aria-label="Save The key moments in Trump’s big speech to myFT for later" data-alternate-label="The key moments in Trump’s big speech is Saved 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data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-20T23:03:12.323Z">Monday, 20 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="ec641ea8-43db-46c7-bdfa-c31d79a40984" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="ec641ea8-43db-46c7-bdfa-c31d79a40984"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/donald-trump" aria-label="Category: Donald Trump">Donald Trump</a></div><div class="o-teaser__heading"><a href="/content/ec641ea8-43db-46c7-bdfa-c31d79a40984" data-trackable="heading-link" class="js-teaser-heading-link">Trump’s 2025 inauguration: the President’s speech in full</a></div><p class="o-teaser__standfirst"><a href="/content/ec641ea8-43db-46c7-bdfa-c31d79a40984" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Donald Trump’s inaugural address in the US Capitol</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="ec641ea8-43db-46c7-bdfa-c31d79a40984" data-myft-ui="saved" action="/myft/save/ec641ea8-43db-46c7-bdfa-c31d79a40984" data-js-action="/__myft/api/core/saved/content/ec641ea8-43db-46c7-bdfa-c31d79a40984?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Trump’s 2025 inauguration: the President’s speech in full to myFT for later" aria-label="Save Trump’s 2025 inauguration: the President’s speech in full to myFT for later" data-alternate-label="Trump’s 2025 inauguration: the President’s speech in full is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="ec641ea8-43db-46c7-bdfa-c31d79a40984" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/ec641ea8-43db-46c7-bdfa-c31d79a40984" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2445%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F86f127bc-9c8c-4d13-a615-eed93c8bd2e2.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="President Donald Trump salutes the crowd during his inauguration in the US Capitol Rotunda on Monday"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-20T21:11:35.890Z">Monday, 20 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="52ca150d-35c9-4a73-a366-f5b323fcf2a4" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="52ca150d-35c9-4a73-a366-f5b323fcf2a4"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/donald-trump" aria-label="Category: Donald Trump">Donald Trump</a></div><div class="o-teaser__heading"><a href="/content/52ca150d-35c9-4a73-a366-f5b323fcf2a4" data-trackable="heading-link" class="js-teaser-heading-link">‘He is power’: billionaires line up for Trump’s inauguration</a></div><p class="o-teaser__standfirst"><a href="/content/52ca150d-35c9-4a73-a366-f5b323fcf2a4" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Top business leaders such as Mark Zuckerberg and Jeff Bezos flock to watch ceremony at the Capitol</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="52ca150d-35c9-4a73-a366-f5b323fcf2a4" data-myft-ui="saved" action="/myft/save/52ca150d-35c9-4a73-a366-f5b323fcf2a4" data-js-action="/__myft/api/core/saved/content/52ca150d-35c9-4a73-a366-f5b323fcf2a4?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save ‘He is power’: billionaires line up for Trump’s inauguration to myFT for later" aria-label="Save ‘He is power’: billionaires line up for Trump’s inauguration to myFT for later" data-alternate-label="‘He is power’: billionaires line up for Trump’s inauguration is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="52ca150d-35c9-4a73-a366-f5b323fcf2a4" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/52ca150d-35c9-4a73-a366-f5b323fcf2a4" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2445%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fc7c44e74-5698-4f6e-836d-9dbbf20ed6df.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Mark Zuckerberg, left, along with Jeff Bezos, centre, Google’s Sundar Pichai, second from right, and at far right Elon Musk"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-20T19:34:33.176Z">Monday, 20 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="8f83d780-a36c-4c37-a742-a15e8f8f0cf5" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="8f83d780-a36c-4c37-a742-a15e8f8f0cf5"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">The FT View</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/ft-view" aria-label="Category: The editorial board">The editorial board</a></div><div class="o-teaser__heading"><a href="/content/8f83d780-a36c-4c37-a742-a15e8f8f0cf5" data-trackable="heading-link" class="js-teaser-heading-link">America enters the second age of Trump</a></div><p class="o-teaser__standfirst"><a href="/content/8f83d780-a36c-4c37-a742-a15e8f8f0cf5" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">President and his circle will test US checks and balances as never before</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="8f83d780-a36c-4c37-a742-a15e8f8f0cf5" data-myft-ui="saved" action="/myft/save/8f83d780-a36c-4c37-a742-a15e8f8f0cf5" data-js-action="/__myft/api/core/saved/content/8f83d780-a36c-4c37-a742-a15e8f8f0cf5?method=put" data-myft-ui-save-config=""> <input 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aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2500%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fa50c55d2-607f-4ac0-9c0a-2c6c8c3386d7.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="US President Donald Trump raises his fist after taking the oath on the day of his presidential inauguration at the Capitol Rotunda"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-20T19:10:25.458Z">Monday, 20 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="e5acf9fc-05de-4486-8f80-8783b6466422" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="e5acf9fc-05de-4486-8f80-8783b6466422"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Instant Insight</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/edward-luce" aria-label="Category: Edward Luce">Edward Luce</a></div><div class="o-teaser__heading"><a href="/content/e5acf9fc-05de-4486-8f80-8783b6466422" data-trackable="heading-link" class="js-teaser-heading-link">Trump’s inaugural regime change</a></div><p class="o-teaser__standfirst"><a href="/content/e5acf9fc-05de-4486-8f80-8783b6466422" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Vibes speak volumes as new president lays out a radical agenda</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="e5acf9fc-05de-4486-8f80-8783b6466422" data-myft-ui="saved" action="/myft/save/e5acf9fc-05de-4486-8f80-8783b6466422" 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js-teaser-image-container"><a href="/content/e5acf9fc-05de-4486-8f80-8783b6466422" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2685%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fb2011cd4-9fd7-40c7-8739-47cd1dc3313d.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="President Donald Trump and Melania Trump during the inauguration"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-20T18:22:59.833Z">Monday, 20 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="5947c98c-0fe3-4ba9-acae-7d06cd0a8a99" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="5947c98c-0fe3-4ba9-acae-7d06cd0a8a99"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/joe-biden" aria-label="Category: Joe Biden">Joe Biden</a></div><div class="o-teaser__heading"><a href="/content/5947c98c-0fe3-4ba9-acae-7d06cd0a8a99" data-trackable="heading-link" class="js-teaser-heading-link">Biden pardons Anthony Fauci, Liz Cheney and Mark Milley</a></div><p class="o-teaser__standfirst"><a href="/content/5947c98c-0fe3-4ba9-acae-7d06cd0a8a99" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Outgoing president moves to protect trio from potential legal action after Trump threatened retribution against political foes</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="5947c98c-0fe3-4ba9-acae-7d06cd0a8a99" data-myft-ui="saved" 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data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/5947c98c-0fe3-4ba9-acae-7d06cd0a8a99" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2445%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F00c6a859-2337-473c-8c88-3b044ff7d8e1.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Anthony Fauci giving a speech"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-20T14:14:26.626Z">Monday, 20 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="d9e383a5-b13c-47bf-9f90-e15be797e926" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="d9e383a5-b13c-47bf-9f90-e15be797e926"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Lex</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/stream/b564e2c2-40f1-4d00-b3cf-6fdacbf9ab6c" aria-label="Category: Cryptocurrencies">Cryptocurrencies</a></div><div class="o-teaser__heading"><a href="/content/d9e383a5-b13c-47bf-9f90-e15be797e926" data-trackable="heading-link" class="js-teaser-heading-link">What’s the value of Trump’s new memecoin?</a><span> <span class="o-labels o-labels--premium o-labels--content-premium">Premium</span><span class="o-normalise-visually-hidden"> content</span></span></div><p class="o-teaser__standfirst"><a href="/content/d9e383a5-b13c-47bf-9f90-e15be797e926" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Crypto-offerings from the president and his family have worth, but not necessarily the financial kind</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="d9e383a5-b13c-47bf-9f90-e15be797e926" data-myft-ui="saved" action="/myft/save/d9e383a5-b13c-47bf-9f90-e15be797e926" data-js-action="/__myft/api/core/saved/content/d9e383a5-b13c-47bf-9f90-e15be797e926?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save What’s the value of Trump’s new memecoin? to myFT for later" aria-label="Save What’s the value of Trump’s new memecoin? to myFT for later" data-alternate-label="What’s the value of Trump’s new memecoin? is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="d9e383a5-b13c-47bf-9f90-e15be797e926" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/d9e383a5-b13c-47bf-9f90-e15be797e926" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2636%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2Fb0ba6cc2-60b9-4953-9ec9-4f47a4ddc5ba.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="A cartoon image of Donald Trump holding a bitcoin token"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-20T11:50:35.187Z">Monday, 20 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="4ba6a193-0619-41e3-a37f-4ef3978e80a9" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image o-teaser--opinion js-teaser" data-id="4ba6a193-0619-41e3-a37f-4ef3978e80a9"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/gideon-rachman" aria-label="Category: Gideon Rachman">Gideon Rachman</a></div><div class="o-teaser__heading"><a href="/content/4ba6a193-0619-41e3-a37f-4ef3978e80a9" data-trackable="heading-link" class="js-teaser-heading-link">Trump and the contest between two visions of democracy</a></div><p class="o-teaser__standfirst"><a href="/content/4ba6a193-0619-41e3-a37f-4ef3978e80a9" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">His return to power has been fuelled by the belief of many Americans that their political system has failed</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="4ba6a193-0619-41e3-a37f-4ef3978e80a9" data-myft-ui="saved" action="/myft/save/4ba6a193-0619-41e3-a37f-4ef3978e80a9" data-js-action="/__myft/api/core/saved/content/4ba6a193-0619-41e3-a37f-4ef3978e80a9?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Trump and the contest between two visions 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alt="Illustration showing Trump and a Maga-branded truck that is pouring its contents into a slot in a large box labelled ‘ballot’"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-20T05:00:58.713Z">Monday, 20 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="6c2f4485-b4ac-4cb0-b3f7-dac55b04d685" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="6c2f4485-b4ac-4cb0-b3f7-dac55b04d685"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/the-big-read" aria-label="Category: The Big Read">The Big Read</a></div><div class="o-teaser__heading"><a href="/content/6c2f4485-b4ac-4cb0-b3f7-dac55b04d685" data-trackable="heading-link" class="js-teaser-heading-link">Can Trump handle the new Republican factions?</a></div><p class="o-teaser__standfirst"><a href="/content/6c2f4485-b4ac-4cb0-b3f7-dac55b04d685" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">The party is united in personal loyalty to the president-elect, but it is now made up of multiple groups with very different agendas</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="6c2f4485-b4ac-4cb0-b3f7-dac55b04d685" data-myft-ui="saved" action="/myft/save/6c2f4485-b4ac-4cb0-b3f7-dac55b04d685" data-js-action="/__myft/api/core/saved/content/6c2f4485-b4ac-4cb0-b3f7-dac55b04d685?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Can Trump handle the new Republican factions? to myFT for later" aria-label="Save Can Trump handle the new Republican factions? to myFT for later" data-alternate-label="Can Trump handle the new Republican factions? is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="6c2f4485-b4ac-4cb0-b3f7-dac55b04d685" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/6c2f4485-b4ac-4cb0-b3f7-dac55b04d685" data-trackable="image-link" tabindex="-1" aria-hidden="true"><div class="o-teaser__image-placeholder" style="padding-bottom:56.2500%;"><img class="o-teaser__image o-lazy-load" data-src="https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F8c1eedc2-9bc0-474d-bab4-9b39afa41266.jpg?source=next&fit=scale-down&dpr=2&width=240" alt="Elon Musk, Donald Trump, Steve Bannon, the US Capitol and the Republican party logo"/></div></a></div></div> </div> </div> </li> <li class="o-teaser-collection__item o-grid-row"> <div data-o-grid-colspan="12 L3"> <div class="stream-card__date"> <time data-o-component="o-date" class="o-date" data-o-date-format="date-only" datetime="2025-01-20T05:00:58.560Z">Monday, 20 January, 2025</time> </div> </div> <div data-o-grid-colspan="12 L9"> <div class="stream-item" data-id="bd3bcca3-a935-4e17-b28d-2644cbb57353" data-stream-item> <div class="o-teaser o-teaser--article o-teaser--small o-teaser--has-image js-teaser" data-id="bd3bcca3-a935-4e17-b28d-2644cbb57353"><div class="o-teaser__content"><div class="o-teaser__meta"><a class="o-teaser__tag" data-trackable="teaser-tag" href="/world-economic-forum" aria-label="Category: World Economic Forum">World Economic Forum</a></div><div class="o-teaser__heading"><a href="/content/bd3bcca3-a935-4e17-b28d-2644cbb57353" data-trackable="heading-link" class="js-teaser-heading-link">Davos agenda turns to dealmaking and growth as Trump takes office</a></div><p class="o-teaser__standfirst"><a href="/content/bd3bcca3-a935-4e17-b28d-2644cbb57353" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">US financiers look to revival of ‘animal spirits’ despite concerns over threat of trade tariffs</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="bd3bcca3-a935-4e17-b28d-2644cbb57353" data-myft-ui="saved" action="/myft/save/bd3bcca3-a935-4e17-b28d-2644cbb57353" data-js-action="/__myft/api/core/saved/content/bd3bcca3-a935-4e17-b28d-2644cbb57353?method=put" data-myft-ui-save-config=""> <input data-myft-csrf-token value="" type="hidden" name="token"> <div class="n-myft-ui__announcement o-normalise-visually-hidden" aria-live="assertive" data-pressed-text="Article saved in My FT." data-unpressed-text="Removed article from My FT." ></div> <button type="submit" class="n-myft-ui__save-button-with-icon" data-trackable="save-for-later" title="Save Davos agenda turns to dealmaking and growth as Trump takes office to myFT for later" aria-label="Save Davos agenda turns to dealmaking and growth as Trump takes office to myFT for later" data-alternate-label="Davos agenda turns to dealmaking and growth as Trump takes office is Saved to myFT" aria-pressed="false" data-text-variant="save-button-with-icon-copy" data-alternate-text="Saved " data-content-id="bd3bcca3-a935-4e17-b28d-2644cbb57353" > <span class="save-button-with-icon-copy" data-variant-label>Save</span> </button> </form> </span></div></div><div class="o-teaser__image-container js-teaser-image-container"><a href="/content/bd3bcca3-a935-4e17-b28d-2644cbb57353" 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js-teaser" data-id="f9ddda04-5796-4197-8819-9f52274395c5"><div class="o-teaser__content"><div class="o-teaser__meta"><span class="o-teaser__tag-prefix">Explainer</span><a class="o-teaser__tag" data-trackable="teaser-tag" href="/donald-trump" aria-label="Category: Donald Trump">Donald Trump</a></div><div class="o-teaser__heading"><a href="/content/f9ddda04-5796-4197-8819-9f52274395c5" data-trackable="heading-link" class="js-teaser-heading-link">Trump’s inauguration: what to expect as the new US president is sworn in</a></div><p class="o-teaser__standfirst"><a href="/content/f9ddda04-5796-4197-8819-9f52274395c5" data-trackable="standfirst-link" tabindex="-1" class="js-teaser-standfirst-link">Pomp and tradition are set to unfold in sub-zero temperatures as the US marks the passing of power</a></p><div class="o-teaser__action"><span> <form class="n-myft-ui n-myft-ui--save" method="GET" data-content-id="f9ddda04-5796-4197-8819-9f52274395c5" data-myft-ui="saved" 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