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Donald Trump has already changed the way we think about the US economy. Now he's back in the

White House and Bloomberg's Trumponomics podcast is here to help. I'm Stephanie Flanders,

head of government and economics at Bloomberg. Whatever the big question of the week is,

we'll have something interesting to tell you about it in a lively conversation with the

reporters and analysts closest to the action.

Listen to new episodes every Wednesday and follow Trumponomics on Apple Podcasts, Spotify, or wherever you listen.

Bloomberg Audio Studios, Podcasts, Radio News.

Music Audio Studios. Podcasts Radio News. Single best idea off of an interview with Emery Horton, Jonathan Farrow, and Lisa Abramowitz, of the Secretary of Treasury.

Huge response to that interview given the huge tumult. Whatever your

politics out there, we're just trying to give you nuance on the conversations around all these

different decisions coming out of the new second Trump administration. It was good to hear

from Scott Besson today. We were so honored after that to have

with us Jason Furman at Harvard University and Wendy Schiller at Brown University, just back to back on

just sort of the moment at hand. In GDP analysis, consumption is 70% of the American pie.

Investment is like 11%.

But Jason Furman went on really to describe why that is so important.

Here from Harvard, Jason Furman on America's business investment.

Consumer spending is the majority of GDP, but investment is the majority of fluctuations in GDP

because it's much more volatile. And right now, investors, business investment is grappling

with continued high interest rates, which are likely to stay that way, with an appreciated

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