On New Year’s Day, Zohran Mamdani will be officially sworn in as Mayor of New York City — first by New York Attorney General Letitia James in an abandoned Subway station, then by Senator Bernie Sanders on the steps of City Hall.
That carefully choreographed launch is meant to convey the same message that Mamdani rode to Gracie Mansion: that he’s different, a renegade, someone who’s going to inaugurate “A New Era” for city politics.
But a look at the team he’s bringing with him suggests that this new era may be a lot like the old. Though Mamdani’s team boasted that they reviewed tens of thousands of resumes following November’s victory, the mayor-elect has chosen to surround himself with veterans of New York City’s Democrat machine.
Nowhere is this clearer than his second-in-command. Mamdani will be the second mayor for whom <a href="https://www.youtube.com/watch?v=3afyrS43czk" target="_blank" rel="noopener">Dean Fuleihan</a> serves as deputy, having held the post for Mayor Bill De Blasio just a few years ago. During the 73-year-old’s time with Hizzoner, the city’s budget grew from $73.9 billion to $85 billion. Fuleihan says it will grow again under Mamdani.
“There are needs that have to be addressed for New Yorkers and we have to find the resources,” he said.
Fuleihan’s former de Blasio administration colleague, Sherif Soliman, will join him and manage the city’s $115 billion dollar budget. Soliman is a long-time political operative whose career<a href="https://www.amny.com/news/mamdani-sherif-soliman-budget-director/" target="_blank" rel="noopener"> spans three administrations,</a> including those of mayors Michael Bloomberg and Eric Adams. Most recently, he served as senior vice chancellor of the City University of New York, a plum job for an old political hand.
Soliman’s budget will have to account for a new role Mamdani created for Julie Su. The Stanford and Harvard graduate, who served as Labor Secretary under President Joe Biden, joins the team as Deputy Mayor of Economic Justice.
Su, whose record in California was so disastrous that the Senate never actually confirmed her to the top Labor Department post, could be joined by Biden’s Federal Trade Commissioner, Lina Khan. Khan, who earned a reputation for her aggressive antitrust enforcement, is currently heading Mamdani’s transition team. Whether or not she joins the team full time, her onetime deputy, Sam Levine, will<a href="https://fedsoc.org/bio/samuel-levine#:~:text=Levine%20worked%20for%20the%20Illinois,and%20accountability%20in%20higher%20education." target="_blank" rel="noopener"> serve</a> as Commissioner of the New York City’s Department of Consumer and Worker Protection.
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The preponderance of former Biden staffers is curious for Mamdani, who is already being hailed as the future of the national Democrat Party. Though Khan and Su are certainly radical in their own right, their presence does seem to suggest that Mamdani isn’t quite ready to dispense with party luminaries.
And while Mamdani made headlines last week with the news that he tapped Lillian Bonsignore, who has never been a firefighter, to serve as the first openly gay FDNY chief, the mayor was less creative when it came to the rest of the city’s public services.
Mamdani has thus far chosen to retain Jessica Tisch, Adams’s choice to lead the NYPD, as well as Sanitation Commissioner Javier Lojan, a career sanitation worker who joined up with the department 26 years ago.
Of course, while Mamdani’s early staffing decisions may belie his “new era” rhetoric, there’s still plenty of evidence that he will make some radical decisions as mayor.
Look no further than the “mastermind” of his political operation, Elle Bisgaard-Church. His former chief of staff and campaign chief, Mamdani has <a href="https://www.foxnews.com/politics/mamdanis-top-incoming-aide-chief-architect-radical-proposal-overhauling-nypd" target="_blank" rel="noopener">credited</a> Bisgaard-Church with one of his most radical ideas, replacing police with mental health professionals in a billion-dollar Department of Community Safety.
But even she has begun to play nice with the bosses, telling NY1 shortly after the election that she and Mamdani have been convening with “various Democratic leaders in Congress and others around the city to seek their advice on how to walk in.&#8221;

Mayor-Elect Zohran Mamdani Holds News Conference Day After Being Elected Mayor Of New York City

Zohran Mamdani Promised ‘A New Era’ For New York. His Team Screams Democrat Establishment.

Legendary investor Warren Buffett on Wednesday worked his final day as CEO of Berkshire Hathaway, ending a six-decade run at the helm. Buffett stunned Wall Street in May when he announced plans to step down at the end of the year. While he’s relinquishing the CEO title, the 95-year-old is not entering full retirement. 
Berkshire Hathaway’s board unanimously named Vice Chairman Greg Abel, 63, as Buffett’s successor. Abel, who has been with the company since 2000 and oversees its non-insurance operations, will assume the role of CEO on January 1.
In his <a href="https://www.berkshirehathaway.com/news/nov1025.pdf">final letter</a> to shareholders in November, Buffett voiced strong support for Abel. Buffett also said he plans to retain a significant stake in Berkshire Hathaway until shareholders grow comfortable with Abel’s leadership, adding that the company’s board and his family fully support the transition. He also emphasized that Berkshire would continue to be managed in a way that benefits both shareholders and the country.
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Buffett also expressed confidence in Berkshire Hathaway’s long-term stability, telling shareholders that the company faces “less chance of a devastating disaster than any business I know” and has “a more shareholder-conscious management and board than almost any company with which I am familiar.”
He also offered a characteristically steady warning to investors that market volatility is inevitable, regardless of who is in charge. 
“Our stock price will move capriciously, occasionally falling 50% or so as has happened three times in 60 years under present management,&#8221; said Buffett. &#8220;Don’t despair; America will come back and so will Berkshire shares.”
Abel is stepping into enormous shoes. Over Buffett’s tenure, Berkshire Hathaway’s stock climbed from roughly $19 per share to about $750,000, a gain of nearly 4 million percent. Buffett transformed the company from a struggling textile mill into a $1 trillion conglomerate, marking one of the most successful business turnarounds in American history. 
Buffett’s fascination with business <a href="https://www.businessinsider.com/warren-buffett-95-birthday-berkshire-hathaway-stock-investing-025-8#partnerships-old-and-new-4">began early</a>. He bought his first stock, Cities Service Preferred, at age 11. By 22, he was teaching night classes on investing and managing money for family and friends. In 1956, he launched his firm, Buffett Partnership, which grew from $100,000 to $20 million before he took control of Berkshire Hathaway. He began acquiring shares in 1962 and assumed full leadership in 1965.

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There&#8217;s a secret weapon tucked inside &#8220;Trump Accounts&#8221; that gives each member of the coming generation the chance to have a six-figure investment account by the time they&#8217;re 18.
Not only will every American child born between January 1, 2025, and December 31, 2028 receive an account loaded with $1,000, courtesy of President Donald Trump, congressional Republicans, and the One Big Beautiful Bill Act. But parents and their employers will be able to make contributions that would supercharge its growth. This month, the Treasury Department pulled back the curtain on how Trump Accounts are designed to work.
With the rules now clear, The Daily Wire crunched the numbers to find out what an 18-year-old would have today if they’d received a Trump Account when they were born in 2007. 
If left untouched, the accounts would be worth nearly six times as much, the financial analysis found, leaving each child to enter adulthood with $5,907. With supplemental investments, however, they&#8217;d be set with accounts well into the six figures.
To encourage participation, the Trump administration made employer contributions tax-exempt. If a parent&#8217;s employer added $2,500 to the account each year, half the allowed contribution, that account would be worth $183,933. And most dramatically, a child whose Trump Account received the maximum $5,000 per year would be sitting on $361,959 today. 
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The analysis showcases how the administration empowers the next generation to unlock compound investing, a financial concept that Albert Einstein once called the eighth wonder of the world. Compound investing is like a snowball rolling down a hill. The $1,000 deposit is the snowball, and as it grows, the returns start adding their own &#8220;snow,&#8221; making the ball bigger and bigger over time. The money isn&#8217;t just sitting there, it&#8217;s actively making more money, and that money makes even more money.
There is rising concern about the financial prospects for young Americans as costs rise in the country. During the Biden administration, costs of goods increased by roughly 20% over four years. The Trump administration has vowed to tackle affordability issues, and these accounts are part of that strategy, with a top Trump official saying the accounts give each kid &#8220;a piece of the American economy.&#8221;
&#8220;It is a trust fund, a piece of the American economy for every child that they will be able to take out when they are 18, or they could convert it to a more IRA-type program,&#8221;explained Trump&#8217;s Treasury Secretary Scott Bessent.
The Trump administration says the accounts will be professionally invested in a low-cost index fund that tracks the overall United States stock market. Once the child turns 18, they will have the option to transition the account into a traditional IRA, setting themselves up with financial stability before they even enter the workforce. 
The Daily Wire simulated the portfolio assuming the investments were made in the S&amp;P 500, which is an index of the 500 largest companies in America. Historically, investments in the S&amp;P 500 have earned dividends, regular cash payments from companies’ profits. The Daily Wire treated this portfolio as if those dividends would be reinvested, allowing the investment to grow over time through both stock price gains and compounding dividend income.
If Trump Accounts had existed for the past 65 years, and a child received the same annual $5,000 contributions from 1959 to 2024, the account invested in the S&amp;P 500 would have grown to nearly $45 million. Left untouched, the $1,000 deposit would have compounded to $721,614 over that period. 
But the path wouldn&#8217;t have always been smooth. In 2008 alone, when the economy crashed, the portfolio would have dropped 37%, falling from roughly $8 million to $5 million in a single year, before taking about five years to fully recover. Yet the long arc would still have been overwhelmingly positive, in the sixteen years since the recession, the S&amp;P 500 has posted gains in 14 of them with only two down years. World renowned investor Warren Buffett says, “Despite some severe interruptions, our country’s economic progress has been breathtaking. Our unwavering conclusion: Never bet against America.” 
The idea behind Trump Accounts originated with Altimeter Capital CEO Brad Gerstner, who has been talking about the policy for years. 
“How about we give a $2,000 stipend at birth that people cannot withdraw that compounds the future of America,” Gerstner<a href="https://x.com/altcap/status/1925670484592537983"> said</a> in 2021. “I would love to see a national savings account in this country where everybody gets to participate in the value creation.” 
Gerstner first pitched the concept to the Biden administration, but it never materialized. Under Trump, the concept was folded into the One Big Beautiful Bill. 
Speaking from the Oval Office earlier this month, President Trump announced that billionaire Michael Dell will contribute $6.25 billion to accelerate the rollout. Dell’s funding will support children ages 10 and under who do not qualify for the one-time Treasury Department deposit. The funds will be available to children within ZIP codes where the median household income is under $150,000, a move Gerstner predicted back in May. “I suspect that philanthropists may contribute more to the Invest America accounts of kids whose parents earn less,” Gerstner said. 
Bessent <a href="https://youtu.be/4rVQbjknXTk?si=UYV0USjHpjROGKMo&amp;t=441">added</a> that the Treasury Department is already in discussions with many philanthropists and foundations about additional contributions. More details on how families can open these accounts are expected in the coming weeks, ahead of the program’s official launch on July 5, 2026.

US Stocks Slump As Trump’s Threat To Fire Powell Adds Pressure

The Secret Weapon That Will Supercharge ‘Trump Accounts’ For Newborns

What's the Value of a Trump Account Today? The Daily Wire Simulated The Portfolio

White House Press Secretary Karoline Leavitt announced that she is expecting a baby girl in May, calling the news “the greatest Christmas gift we could ever ask for.”
“My husband and I are thrilled to grow our family and can’t wait to watch our son become a big brother. My heart is overflowing with gratitude to God for the blessing of motherhood, which I truly believe is the closest thing to heaven on earth.”
Leavitt thanked both the president and White House Chief of Staff Susie Wiles for creating a pro-family work environment. “I am also extremely grateful to President Trump and our Chief of Staff Susie Wiles for their support, and for fostering a pro-family environment in the White House.”
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Leavitt has previously praised the White House&#8217;s &#8220;family-friendly environment&#8221; during an interview with The Daily Wire, saying it&#8217;s &#8220;a testament to the president and the chief of staff as well.&#8221;
Other working mothers have also commented on the Trump administration&#8217;s support.
“They are so incredibly understanding about mothers’ schedules, making it home on time for family time,” Joanna Wischer, deputy director of the Made in America office in the Office of Management and Budget (OMB) and mother to a one-year-old, <a href="https://www.dailywire.com/news/on-being-a-mom-at-the-white-house">told</a> The Daily Wire. “The culture of the Trump administration is to make it so that we get as much done as possible in a reasonable timeframe and then be able to balance life with being able to see our kids, spend time with the family.”
Leavitt has also stressed that her family support system helps her while she serves as a mother and press secretary.
“I’m very blessed with a great support system,” Leavitt told The Daily Wire. “A wonderful husband who is an amazing father to our son, great parents who come to D.C. often to help when we need it. And my faith really keeps me grounded in giving me the strength to do both jobs, very important jobs, at the same time.”
A senior White House official <a href="https://www.foxnews.com/politics/karoline-leavitt-expecting-baby-girl-may-2026-says-motherhood-closest-thing-heaven-earth">reported</a> that Leavitt will continue to serve as President Trump’s press secretary — a role she previously served on the campaign trail while pregnant with her firstborn.
Four days after delivering her son, Leavitt was back to doing media hits. The press secretary <a href="https://www.dailywire.com/news/on-being-a-mom-at-the-white-house">told</a> The Daily Wire that her original plan when her son was born was to take some time off, as Wiles advised. However, witnessing the shocking assassination attempt on President Trump while holding her newborn son, Leavitt told her husband that it was time to go &#8220;back to work.&#8221;
“I felt compelled to be present in this historic moment. The president literally put his life on the line to win this election. The least I could do is get back to work quickly,” Leavitt stated.
Many conservative influencers have rushed to congratulate Leavitt. &#8220;Going to tell my kids you are Super Woman. Congratulations!&#8221; said Savannah Antao.
Popular X account MAGA Voice <a href="https://x.com/MAGAVoice/status/2004634523355807908">stated</a>, &#8220;Breaking Press Secretary Karoline Leavitt just announced she is Pregnant. Congratulations. MAGA is growing.&#8221;
Leavitt is the first pregnant White House press secretary in U.S. history.

Karoline Leavitt

Karoline Leavitt Announces ‘Greatest Christmas Gift’ — Her Baby Girl

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President Donald Trump has spent this year unwrapping an economy handed to him by former President Joe Biden. Inside the box: inflation and sticker shock.
From when Biden took office in January 2021 through the end of December 2024, consumer prices rose <a href="https://finance.yahoo.com/news/the-final-accounting-on-bidenflation-212613508.html?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAIfT9OGeVAKKbHJR4Tc3o4i4IUGV_jwsWj6OEQ8pCpV9PPLtJmCmTCXD4cqtQ1RwqCeiHtlpYZfcCj9KieR8wHDmrBZ3JmV40xfO9AUcSvmmtUin-czVIwgJGFLU1WUxtldZKbbACfYT06DHFrn6jaTYSiXXdyPTtPvvGasDDKHL">21.2</a>%. Even as inflation cools under President Trump, Americans are still living with the higher prices locked in during Biden’s term in office.
With the exception of George Washington, every president’s tenure runs the risk of being defined by the lingering effects of their predecessor’s policies. That reality has put the Trump White House on the defensive. Press Secretary Karoline Leavitt has repeatedly pushed back against the notion that today’s economy belongs to Trump alone.
She’s <a href="https://www.dailywire.com/news/those-were-two-utter-lies-white-house-press-briefing-turns-contentious-over-affordability">described</a> Democrats as “the greatest con artists in history,” who are “trying to claim ownership of an issue that they created.” On offense, the press secretary says that by economic measures, things are actually looking up.
“Every economic metric does in fact show that the economy is getting better and brighter than where it was under the previous administration,” Leavitt said. Shortly after that statement, November inflation came in at 2.7% and GDP growth surged to 4.3% — far exceeding expectations.
While the economic playing field is never fully level, Joe Biden and Donald Trump occupy a rare position as the only presidents in modern U.S. history to both inherit the monetary effects of the other.
President Joe Biden received an average inflation of 1.9% and an economy primed with two stimulus packages from President Trump.
In March of 2020, Trump signed the CARES Act into law, a $2.2 trillion stimulus package that acted as a lifeline to shut-down businesses all over the country. The package was passed unanimously in the Senate and 388 to 5 in the House of Representatives — notably, the five representatives who voted against the bill were Republicans who were concerned about the cost and impacts to the federal deficit.
In December of 2020, Trump signed a second relief package totaling $900 billion, which included another round of direct payments. Six Republican senators voted against the bill; no Democrats opposed it. The House passed the measure 359-53. The 53 who voted against the bill <a href="https://www.newsweek.com/republicans-democrats-voted-against-stimulus-why-1556574?utm_source=chatgpt.com">included</a> 50 Republicans who broke with party leadership. The legislation was a compromise, with Republicans pushing for limited total spending, and Democrats demanding larger checks and extended unemployment benefits.
One year later, Joe Biden signed the $1.9 trillion American Rescue Plan into law, more than double the size of Trump’s final stimulus package. The bill sent $1,400 checks to Americans in a bustling economy. Not a single Republican voted to pass the legislation.
Economists later echoed the concern that all three of the stimulus packages inflated the economy. “Both Trump and Biden contributed to the fiscal stimulus that fed into the inflation,” <a href="https://abcnews.go.com/Business/republicans-rnc-blame-biden-inflation-economists-misleading/story?id=112022864">said</a> George Selgin, senior fellow at the Cato Institute.
Biden had average inflation during his term of 4.9% while Trump had average inflation of 1.9%. Trump’s inflation reached a high of 2.5% during his first term while Biden’s reached a high of 9.1% in June 2022.
Economist Peter Morici was blunt in his <a href="https://abcnews.go.com/Business/republicans-rnc-blame-biden-inflation-economists-misleading/story?id=112022864">assessment</a> of where blame should be issued.
“It was irresponsible to do stimulus when the economy was well on its way to recovery. Blame is falling where it’s due. Biden does bear responsibility for the endurance of COVID inflation.”
As inflation finally began to cool, credit shifted elsewhere. Many point to former Senator Joe Manchin for blocking additional spending that could have further fueled price increases. Left-wing MSNBC’s Joe Scarborough <a href="https://townhall.com/tipsheet/spencerbrown/2022/06/14/scarborough-says-you-can-just-thank-joe-manchin-inflation-isnt-worse-n2608707?utm_source=chatgpt.com">remarked</a>, “You can just thank Joe Manchin if you&#8217;re glad that interest rates aren’t even higher,” referring to the interest rate hikes the Federal Reserve had to implement in an attempt to tame inflation.
Billionaire entrepreneur and investor Sam Zell <a href="https://www.newsweek.com/billionaire-praises-manchin-saving-us-catastrophic-biden-bill-1716160?utm_source=chatgpt.com">agreed</a>, saying, “Unfortunately, we only had one senator who stepped up to the line when, in fact, everyone should have stepped up and recognized this was a disastrous policy.”
Others issued credit to Federal Reserve Chair Jerome Powell. Republican Senator John Kennedy said, “It seems to me that you and some of … your colleagues deserve some credit for that. … I’m not saying things are perfect, but I never imagined that our landing could be this soft.”
The “soft landing” has continued into Trump’s second term with an average of 2.7% inflation so far. But lower inflation does not mean lower prices — and now, voters are left paying the bill. As Americans continue to confront elevated sticker prices, Republicans will be forced to defend seats in an economy still shaped by stimulus spending many warned against.

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Biden’s Only Gift For Trump Was The Inflation Crisis

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Zohran Mamdani brought Lillian Bonsignore out of retirement on Tuesday to serve as the first openly gay commissioner of the Fire Department of New York City. While she has never been a firefighter, she was an Emergency Medical Services (EMS) provider for 31 years and served as the fire department’s EMS Operations chief during the COVID-19 pandemic.
She <a href="https://www.youtube.com/watch?v=nN0dz8i4yjI">said</a>, “It was a little hard [to come out of retirement], it’s a hard decision, but I’m looking forward to it, I’m happy to do it.” Bonsignore finds it odd that what people celebrate her for the most is being a woman and being gay.
“It’s kind of odd that the thing I get celebrated for the most – people are always like, ‘Wow, you’re a woman and you’re gay’ – are the two things I put the least work into,” she <a href="https://www.cityandstateny.com/personality/2025/12/mamdani-appoints-lillian-bonsignore-lead-fdny/410370/">said</a>.
Mamdani made sure to highlight Bonsignore’s sexual orientation during his announcement. “I am proud that Lillian will make history as the first openly gay person to head up the department,” he <a href="https://www.youtube.com/watch?v=nN0dz8i4yjI">said</a>.
The first question Bonsignore and Mamdani received was about her never having served as a firefighter. “I can see how that might be a concern, being fire is the primary word, and there is concern regarding this,” Bonsignore said. “I have spent thirty years working in this fire department alongside every EMT, paramedic, firefighter, support staff, and we’ve all been doing this job with one mission, and that’s to save the lives… As far as firefighting experience, I would say I know the job, I know what the firefighters need, and I can translate that to this administration who’s willing to listen.”
Mamdani responded, “One of the things that makes me so excited to have the commissioner is her bringing more than thirty years of experience and her having a real understanding both on the job and in the experience of those she has worked with of what is required of the incredible New Yorkers who do this work each and every day.”
Mamdani’s announcement occurred one hour before outgoing Mayor Eric Adams swore in his own pick for the job. Unlike Mamdani, Adams chose a career firefighter to serve as New York City’s Fire Department commissioner. Adams’ pick, Mark Guerra, “has served the Fire Department of New York City for 37 years as a firefighter and a leader,” said Adams at the time. “It is my honor to elevate him from first deputy commissioner to Fire Commissioner and oversee New York’s bravest. He is a true hero and protector of New Yorkers.”
Guerra will serve the department until January 1, when Mayor-Elect Zohran Mamdani assumes office and his pick, Bonsignore, assumes the position.
Bonsignore plans to make education a big part of her administration. “I think the public education you’re going to find is going to be a big part of my administration.”
Mamdani and Bonsignore agreed that New Yorkers need to know when to call 911 as the large volume of calls — some of which could be routed through other channels — puts a strain on the system.

NYFD

Mamdani Taps Retired EMS Chief To Serve As ‘First Openly Gay’ Fire Commissioner

New York City

New York Fire Department

Zohran Mamdani

The United States economy grew more than expected over the summer, shattering expectations and marking a two-year high of economic growth.
The long-anticipated third-quarter GDP numbers — whose autumn release was delayed due to the government shutdown — dropped Tuesday, an early Christmas gift to President Donald Trump and his administration.
&#8220;Q3 GDP came in at 4.3%, BLOWING PAST expectations,&#8221; Trump wrote on Truth Social. &#8220;Economists got it WRONG, but “TRUMP,” and some other Geniuses, got it right.&#8221;
&#8220;The SUCCESS is due to Good Government, and TARIFFS,&#8221; the president added. &#8220;Consumer spending is STRONG, Net Exports are WAY UP, Imports and Trade Deficits are WAY DOWN, and there is NO INFLATION! Because of my Tax Bill (THE GREAT BIG BEAUTIFUL BILL) and TARIFFS, INVESTMENT IS SETTING RECORDS. The Trump Economic Golden Age is FULL steam ahead — &#8216;You haven’t seen anything yet!&#8217; Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN!&#8221;
The 4.3% growth rate beat forecasted growth by 1.2%, marking the strongest quarter of economic growth since 2023. The surge stemmed from increases in consumer spending, exports, and government spending. Imports fell, a notable factor because imports are subtracted from GDP.
Treasury Secretary Scott Bessent predicted this degree of growth earlier this month, <a href="https://www.foxbusiness.com/economy/bessent-says-us-going-finish-year-3-gdp-growth-despite-government-shutdown?utm_source=chatgpt.com">saying,</a> “The economy has been better than we thought,” Bessent said. “We&#8217;ve had the 4-4% GDP growth in a couple of quarters. We&#8217;re going to finish the year, despite the Schumer shutdown, with 3% real GDP growth.” 
Americans spent more on vehicles and prescription drugs in the third quarter, two sectors directly impacted by the Trump administration&#8217;s policy this year. Earlier in 2025, pharmaceutical giant AstraZeneca announced a <a href="https://www.astrazeneca.com/media-centre/press-releases/2025/astrazeneca-plans-to-invest-50bn-dollars-in-the-us.html">$50 billion</a> investment in the United States, reinforcing the administration’s push to reshore drug manufacturing. Meanwhile, the administration’s “Big Beautiful Bill” <a href="https://www.irs.gov/newsroom/one-big-beautiful-bill-act-tax-deductions-for-working-americans-and-seniors">introduced</a> a tax break on interest for loans on American-made vehicles, branded as “No Tax on Car Loan Interest.” 
Bessent has pledged to reduce deficit spending to 3% of GDP, a target he believes is achievable with the right monetary leadership. Central to that vision, he argues, is a Federal Reserve chair willing to let growth accelerate. Trump is expected to appoint a new chair in the coming weeks.
It remains to be seen whether Q3 momentum translated into Q4. A robust fourth quarter could reinforce the Trump administration’s vision of sustained economic expansion cultivated under policies with American-made production and a forward-thinking Federal Reserve, potentially setting the stage for a  “bountiful” <a href="https://nypost.com/2025/12/16/business/bessent-says-americans-will-feel-relief-during-bountiful-2026-as-inflation-falls-real-wages-rise/?utm_source=chatgpt.com">2026</a>.
But until then, the White House will likely continue trumpeting this economic win well into the new year.
&#8220;The doubters, naysayers, panicans, and liberal media have been proven wrong — again,&#8221; White House Press Secretary Karoline Leavitt wrote on X Tuesday. &#8220;Trust in Trump. The President’s pro-growth policies are working, and the best is yet to come!&#8221;

Truck carrying forty-foot container leaving port terminal with ship and quay crane on the background. Seaport operation activities, container shipping, and logistics.

‘Trust In Trump’: White House Touts Economic Growth As Third Quarter Numbers Shatter Expectations

If the 2028 Republican primary took place at Turning Point USA&#8217;s AmericaFest this weekend, Vice President JD Vance would be the Republican nominee in a no-contest election.
Vance won in a landslide in the TPUSA straw poll, taking about 85% of the vote from attendees of the group&#8217;s annual convention in Arizona. Coming in behind him was Secretary of State Marco Rubio, who received 5% of the straw poll vote. 
Vance won the AmericaFest poll by about three percentage points more than President Donald Trump received in the 2023 straw poll.
<blockquote class="twitter-tweet">
The TPUSA straw poll from AmFest is out. Thread.
JD Vance won the 2028 nomination straw poll by more than Donald Trump won the 2024 one we did two years ago. <a href="https://t.co/86uJLg3VE2">pic.twitter.com/86uJLg3VE2</a>
— Blake Neff (@BlakeSNeff) <a href="https://twitter.com/BlakeSNeff/status/2003170212368253244?ref_src=twsrc%5Etfw">December 22, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The poll findings align with what The Daily Wire heard from attendees, who, across the board, said they would back Vance as the 2028 nominee.
The Daily Wire also asked college students at AmFest if they would support Vance as the 2028 nominee. All of those who were asked said they would. 
“Is the grass green?&#8221; Nickolas Peter said, asking if he was excited about the vice president. “JD Vance represents the greatest conservative movement in over 40 years. One that prioritizes Main Street over Wall Street, one that prioritizes the exceptional American culture.&#8221;
The AmFest crowd erupted in cheers when Vance took the stage, interrupting him with chants of his name and &#8220;U.S.A.&#8221; 
<blockquote class="twitter-tweet">
NOW: The crowd goes WILD for Vice President JD Vance. “JD, JD, JD” <a href="https://t.co/uQYFexBOye">pic.twitter.com/uQYFexBOye</a>
— Brecca Stoll (@breccastoll) <a href="https://twitter.com/breccastoll/status/2002822029079396639?ref_src=twsrc%5Etfw">December 21, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Vance has <a href="https://www.livemint.com/news/us-news/jd-vance-says-he-ll-talk-to-trump-about-possible-2028-run-after-2026-midterms-calls-rubio-a-colleague-not-a-rival-11763117448183.html?utm_source=chatgpt.com">stated</a> that he plans to wait until after the 2026 midterm elections to talk to President Trump about a possible presidential run. “I’m very focused on the midterm elections. Then after that, I’m going to sit down with the president of the United States and talk to him about it.”  
The vice president has told the American people he is committed to the job he got elected to do. He said Americans are “fed up with folks who are already running for the next job, seven months into the current one.” 
He also added that there are a lot of great people on the Republican and national side, so if he ended up running, it would not be a given that he would win. He has rejected the idea that other potential candidates, including Rubio, are his rivals. 
“I don’t feel like that at all…Marco is a colleague,&#8221; Vance said. &#8220;If Marco eventually runs for president, then we can cross that bridge when we come to it…it’s a long ways in the future.” 
In the meantime, Vance says, &#8220;I&#8217;m going to try to do my best job, and I think if I do that, the politics will figure itself out.”
The AmFest polling also found that nearly nine out of ten conference attendees view Israel as an ally, believe the biggest threat to the United States is radical Islam, and widely support the job being done by Trump&#8217;s cabinet. The most popular cabinet members, according to the straw poll, are Robert F. Kennedy Jr., Pete Hegseth, Marco Rubio, and Kristi Noem, who each have over 90% approval from the AmFest crowd.

Vice President JD Vance Speaks In North Carolina

TPUSA Attendees Rally Around JD Vance At AmFest

The White House believes Americans will soon start seeing President Trump’s economic policies pad their wallets thanks to the tax cuts passed in the Big Beautiful Bill.
The rules changed mid-year when Trump’s Big Beautiful Bill was signed, making many of its tax cuts retroactive to January 1 &#8212; but because the IRS did not update payroll forms or withholding tables during 2025, employers kept taking out taxes based on the old rules. When Americans file their 2025 taxes next year, the government will make calculations using the new rules, meaning many people will receive larger refund checks than usual. 
“We didn’t pass the Big Beautiful Bill until the middle of the summer, so a lot of the tax changes which affected last year were not in any tax forms filled out in the beginning of the year,” <a href="https://www.foxbusiness.com/video/6386652620112">said</a> White House National Economic Council Director Kevin Hassett.
Those delayed changes, the White House argues, will result in what it calls the “largest tax refunds in American history,” which officials say will help improve affordability for Americans.
&#8220;I think we&#8217;re going to see $100 billion to $200 billion of refunds, which could be between $1,000 and $2,000 per household,&#8221; stated Treasury Secretary Scott Bessent.
Financial analysts have also weighed in on the expected impact. JPMorgan <a href="https://am.jpmorgan.com/us/en/asset-management/adv/insights/market-insights/market-updates/notes-on-the-week-ahead/the-investment-implications-of-the-refund-surge/">expects</a> over 100 million Americans will receive a tax refund with an average amount of $3,743.
Several specific provisions of the Big Beautiful Bill will contribute to these record refunds. The bill increased the standard deduction by $750 for single filers and by $1,500 for joint filers, allowing people to subtract a large amount from their income before taxes are calculated. The bill also temporarily increases the State and Local Taxes deduction cap from $10,000 to $40,000. While these adjustments affect all taxpayers, workers who receive tips or overtime pay are expected to see even greater relief. Tip earners can deduct up to $25,000 in tip income, while workers who earn overtime can deduct up to $12,500.
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Other key provisions of the Big Beautiful Bill further expand financial relief. The legislation increased the child tax credit for tens of millions of families, made the paid leave tax credit permanent, raised the death tax exemption, shielded family farms from excessive taxation, and enhanced 529 savings accounts. Trump also helped the country’s youngest Americans by creating Trump Accounts, which are investment accounts for kids where earnings grow tax-free. As it does with children, the bill also helps seniors, who will receive an additional $6,000 standard deduction bonus if over 65 years old.
President Trump said under these cuts, “many families will be saving between $11,000 and $20,000 a year.”
The White House estimates the tax refunds will lead to a strong 2026.
&#8220;They&#8217;ll get a real increase in their wages. So I think 2026 can be a very good year,&#8221; Bessent <a href="https://www.foxbusiness.com/economy/bessent-expects-taxpayers-see-very-large-tax-refunds-early-next-year">said</a>.
JPMorgan says that the tax refunds could even translate into a strong 2025 Holiday season as well.
&#8220;Moreover, it could even reach back to impact the holiday season this year. If consumers are confident that they will be getting bigger refund checks early in the new year, they may be willing to rack up more credit card debt in December, providing further near-term support to the economy.&#8221;

US-POLITICS-TRUMP

White House Says 2026 Will Bring The Largest Tax Refunds In History

2026 Midterms

Taxes

Trump Administration

More than half of Americans aged 18-29 hold a favorable view of socialism, according to a Cato Institute <a href="https://www.cato.org/blog/young-americans-socialism-too-much-thats-problem-libertarians-must-fix?utm_source=chatgpt.com" target="_blank" rel="noopener">survey</a>, and 34% of people in that age group feel the same about communism.
It&#8217;s not hard to see why. Student debt has increased dramatically over the last decade, climbing from <a href="https://educationdata.org/total-student-loan-debt" target="_blank" rel="noopener">$500 billion</a> in the early 2000s to <a href="https://educationdata.org/total-student-loan-debt" target="_blank" rel="noopener">$1.7 trillion</a> today. Feeling trapped in debt cycles, many young Americans are turning to the voting booth for relief. In New York, Mayor-elect Zohran Mamdani won on a platform of taxing the wealthy and redistributing that wealth into free services like buses and childcare.
But not every young American is convinced that socialism is the answer. One dissenter, 24-year-old entrepreneur Steven Wang, has an alternative path: participation in capital markets.
“Rents have skyrocketed. People are feeling these things,” Wang says. “They want representation in the markets.&#8221;
Wang believes that shared ownership — not bigger government — is the answer to questions of affordability. And with markets delivering consistent long-term returns, he’s working to make that opportunity accessible to those who feel excluded.
&#8220;The solution is not free subsidized housing or grocery stores. It’s having them participate in a chunk of the American dream.”
Wang&#8217;s company, Dub, has raised more than $30 million to make investing more attainable for Americans. His platform allows investors to pick not just stocks but financial influencers whose strategies they can follow and replicate.
“It’s no longer thinking about budget screens and picking stocks,” Wang told The Daily Wire. “It’s really following ideas and individuals to drive our investing decisions.”
“I think in many ways we’re building the platform for the future,” Wang said. “For too long, breaking into Wall Street was all about being part of the boys&#8217; club, going to Harvard, getting an MBA,” Wang says. “That’s how you got introduced to hedge funds and that’s how you got a job. We want to break that wide open.”
A Harvard dropout himself, Wang says he’s leveling the playing field for investors, but says his standards are rigorous.
“It’s a pretty high bar to become a premium influencer,” Wang told the Daily Wire. “You need a verified track record, a full background check, multiple interviews, and approval by our investment committee. We also verify that creators are actually executing the strategies they claim. Even after approval, monetization runs through our fiduciary advisor entity, and we actively monitor participants on a day-to-day basis.”
Once approved, Wang’s financial influencers can help everyday users make investments.
A strong believer in AI, Wang warns Americans cannot afford to miss it.
“It’s like the new internet boom,” he says. “People can’t afford to miss out on all the value that will be created from AI in the next five to ten years.”
For Wang, the mission is personal.
“I was born and raised in Detroit. We didn’t grow up with a lot of money, and investing has changed my life.”
Just a month ago, legendary investor Ron Baron, who <a href="https://www.baroncapitalgroup.com/about-us" target="_blank" rel="noopener">grew</a> Baron Capital from $100 million to $45 billion in assets under management, <a href="https://www.cnbc.com/video/2025/11/14/watch-cnbcs-full-interview-with-baron-capital-chairman-and-ceo-ron-baron.html" target="_blank" rel="noopener">stressed</a> the importance of investing on CNBC.
“The stock market and economy basically double every 10 or 12 years,&#8221; he said. &#8220;The value of money falls 4 or 5% a year and that’s inflation. Economic growth has been about 2% a year, so about 7% a year growth. That means everything doubles in ten years and the value of your money falls in half every fifteen years. So you have to make twice what you are making today to stay even.”
Wang says if Americans don’t invest, “The wealth gap is only going to accelerate.&#8221; But he sees the generational wealth transfer currently underway as an opportunity for younger Americans.
“There’s around $70 to $100 trillion of assets being passed down to new generations,” he said. “And everyone is going to need to make a decision of where that money is going to go.”

US-ECONOMY-MARKETS-NYSE

This Gen Z Founder Thinks He Can End His Generation’s Love Affair With Socialism

Delayed <a href="https://www.bls.gov/news.release/empsit.nr0.htm">reports</a> reveal that while the U.S. economy picked up 64,000 jobs in November, it saw a decline of 105,000 in October following the Trump administration’s cutbacks to federal staff.
A drop of 162,000 federal employees fueled October’s overall job losses, with many resigning on September 30 under mounting pressure from Elon Musk’s Department of Government Efficiency (DOGE) project to reduce the federal payroll. The Deferred Resignation Program (DRP), informally known as the “Fork in the Road” and part of the DOGE initiative, gave federal employees the option to resign early with continued pay and benefits through the end of September if they accepted the offer by a set deadline.
Historically, six-figure drops in federal employment have occurred during wartime and in the years following a decennial census. The reductions contributed to a rising unemployment rate, which reached its highest level since 2021 at 4.6%.
The job creation numbers were delayed due to the 43-day government shutdown.
In November, private payrolls expanded by 69,000, building on October’s increase of 52,000 jobs. Gains were recorded in healthcare, construction, and retail, while manufacturing, leisure and hospitality, and transportation and warehousing experienced declines. 
“I think that from the private sector point of view…it’s a solid upward trajectory,” said National Economic Council Director Kevin Hassett. “The President’s private sector job creation since he took office is about 700,000 jobs.” 
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The Department of Labor underscored this point.
“Under the Biden administration, most job growth came from government jobs and foreign labor,” its official X account posted on Tuesday. “Now, with (President Trump) at the helm, every single job created has been in the PRIVATE SECTOR for NATIVE-BORN AMERICANS.”
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Under the Biden administration, most job growth came from government jobs and foreign labor.
Now, with <a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a> at the helm, every single job created has been in the PRIVATE SECTOR for NATIVE-BORN AMERICANS 🔥 <a href="https://t.co/ylLCfxmcza">pic.twitter.com/ylLCfxmcza</a>
— U.S. Department of Labor (@USDOL) <a href="https://twitter.com/USDOL/status/2000965316428386615?ref_src=twsrc%5Etfw">December 16, 2025</a></blockquote>
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Although the newly released figures carry some qualifications, the report will shape how investors assess next year’s interest-rate trajectory. The Federal Reserve cut rates for a third consecutive meeting last week to bolster what Chair Jerome Powell described as a “gradually cooling” job market facing “significant” risks of further weakening.
Manhattan Institute Fellow Allison Schraeger <a href="https://www.cnbc.com/video/2025/12/16/watch-cnbcs-full-interview-with-the-squawk-box-jobs-panel.html">says</a> this month’s job reports could lead to a future Federal Reserve rate cut. “If you are looking for an excuse to cut further, you could probably say the labor market is weakening and I’m going to do something about it.”

Jobs report

Federal Workforce Shrinks By 162,000 As Unemployment Spikes To Four-Year High

Jobs

Unemployment

iRobot, the American company that created the robotic vacuum Roomba, filed for bankruptcy on Sunday, sending the company into the arms of its Chinese manufacturer just three years after regulators blocked a proposed sale to Amazon.
Under the <a href="https://media.irobot.com/2025-12-14-iRobot-Announces-Strategic-Transaction-to-Drive-Long-Term-Growth-Plan?utm_source=chatgpt.com">bankruptcy plan</a>, iRobot’s manufacturer, Picea, will take 100% of the company’s equity, shifting ownership from American to Chinese hands. The filing comes after iRobot cited declining sales, increased competition from lower-priced alternatives, and rising supply chain and manufacturing costs. Initially, the company hoped to merge with Amazon to improve its scale and get more competitive pricing for parts and inventory.
While the Federal Trade Commission has not commented on iRobot’s bankruptcy, the commission welcomed the collapse of the Amazon deal in January 2024. “We are pleased that Amazon and iRobot have abandoned their proposed transaction,” the United States Federal Trade Commission <a href="https://www.ftc.gov/news-events/news/press-releases/2024/01/statement-regarding-termination-amazons-proposed-acquisition-irobot">said</a>. “The Federal Trade Commission will not hesitate to take action in enforcing the antitrust laws to ensure that competition remains robust.”
Three years later, iRobot’s bankruptcy leaves the United States without a major American-owned competitor in the home robotics industry.
With iRobot’s bankruptcy, shareholders are expected to see their equity wiped out &#8212; an outcome that contrasts sharply with the $61 per share cash payout investors would have received had the Amazon acquisition gone through. Senator Elizabeth Warren (D-MA), who urged regulators to oppose the deal, said at the time that Amazon should not be allowed to use acquisitions to avoid competition.
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“I have serious concerns about Amazon’s deal to buy iRobot,” <a href="https://x.com/SenWarren/status/1575616208417980417">said</a> Warren. “We’re asking the FTC to oppose this proposed deal to protect competition and consumers. Amazon shouldn’t be allowed to just buy their way out of competing.”
After the deal collapsed, iRobot laid off roughly one-third of its workforce and its stock price plummeted. Amazon CEO Andy Jassy later described the company’s struggle as “a sad story.”
“This American company invented this product, invented the category and built a business that was almost $1 billion in revenue,” Jassy said. He argued that successful businesses naturally attract competition, including from Chinese manufacturers, and that iRobot needed scale to survive.
“They needed to scale because scale lets you buy components at the right price and invest in R&amp;D,” Jassy said.
Jassy also addressed privacy concerns, noting that robotic vacuums must map the inside of customers’ homes to avoid running into furniture.
“What Western regulators were saying is that they trust these two large Chinese companies with maps of the inside of U.S. consumers&#8217; homes more than they do Amazon,” he said. “That can’t be what we were going for. I think we&#8217;ve got to try and find a way to be reasonable with what we are doing.”
At the time the deal was blocked, the Federal Trade Commission was chaired by President Joe Biden appointee Lina Khan, who quickly became known for her aggressive approach to antitrust enforcement, particularly toward large technology companies. Khan now <a href="https://www.dailywire.com/news/mamdanis-transition-team-a-reflection-of-his-leftism">serves</a> as New York City Mayor-elect Zohran Mamdani’s transition team chair.

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Brecca Stoll