What are the likely effects of Trump’s tariffs, and what do they mean for the US economy? To discuss, we are joined again by Harvard economist Jason Furman, who was Chairman of the Council of Economic Advisers in President Obama’s second term. According to Furman, Trump’s tariffs represent an enormous "shock to the system” likely to produce both short- and long-term economic pain. Furman considers both the direct and indirect effects of Trump’s policies, including the effects of uncertainty on the economy. Finally, Kristol and Furman discuss whether Congress could push back against an economic agenda likely, in Furman’s words, to produce “many more losers than winners.”

Where do things stand five months after Election Day? According to veteran reporter and commentator A.B. Stoddard, Trump’s second term has been far more radical than many anticipated. As she puts it: “The more power you give [Trump], the more he’ll take. And the less pushback that he gets, the freer he is. So I think what we’ve seen in the last couple of months is that he’s been given permission and he will take it. That’s the way Trump is…. So people need to not underestimate the fact that things could be much, much worse in three months or a year.” In a wide-ranging assessment of the state of our politics, Stoddard shares her perspective on the Trump agenda, the Republican Party’s acquiescence, and the situation of the Democratic Party opposing Trump. Stoddard and Kristol also consider how opponents of Trump might chart alternative paths forward in the months and years ahead.

Where do things stand fifty days into Trump’s second term? According to Georgetown Law professor Steve Vladeck: “We’ve never seen such a wholesale attempt on the part of a president [to] hollow out the executive branch [and] install loyalists in all of the relevant positions of government.” Amid a blizzard of lawsuits in response to Trump’s executive actions, Vladeck analyzes whether and to what extent the courts, Congress, and other institutions might contain the Trump administration by asserting their own Constitutional prerogatives to defend the rule of law. While he notes that courts may push back on certain executive actions on First Amendment and other grounds, Vladeck argues that the courts simply were not set up to handle the kind of large-scale litigation that might follow from mass terminations in the civil service, for instance. This is a must-watch Conversation for anyone interested in understanding how the separation of powers, a bedrock of our constitutional government, is playing out in our institutions in real time.

Where do things stand on the third anniversary of the war in Ukraine? What is the situation in European politics after the German elections? How should we think about the continued challenge of countering autocracy at home and abroad? To discuss these questions we are joined again by Pulitzer Prize-winning historian Anne Applebaum. As Applebaum explains, despite difficulties on the battlefield, Ukraine is holding up: “The [Russians] cannot win… without Trump." And she argues that the outcome of the German elections present reasons for optimism that a European "coalition of the willing" may be emerging to seriously counter the Russian threat and support Ukraine. Applebaum also shares her perspective on the first month of the Trump administration. As she puts it: “The idea that you have to take control of state institutions and you have to make them work for you personally rather than for the people…. This is something that every illiberal leader elected and unelected sooner or later thinks they need to do. [But] this is more radical than anything any [contemporary] European far-right party has ever done.”

What is the role of social media in our politics today? To discuss, we are joined by Renée DiResta, a leading analyst of the internet and its effects on politics and society. As DiResta explains, social media platforms today are significant sources of political power that are fundamentally different from traditional media like newspapers, radio, and television. Social media makes users active participants in the consumption of information and algorithms have reinforced the polarization in our politics: “Algorithms key off of things that you like, things that people who are like you like. And then when that happens, you are put into these buckets, where you’re going to see more of a certain type of thing, so those identities are reinforced.” DiResta considers the ways in which Elon Musk has changed X (formerly Twitter), the power of controlling a social media platform, and the importance of this new phenomenon in politics at home and abroad. DiResta also shares her perspective on positive and negative effects of social media, from the highlighting of new perspectives to the proliferation of conspiracy theories.

What have we learned from the first two weeks of the Trump administration’s approach to executive actions? Ryan Goodman is a professor of law at New York University, former special counsel in the Department of Defense, and co-editor of NYU Law’s Just Security blog. According to Goodman, behind the Trump administration’s Executive Orders and actions is a claim of executive authority “different in character than anything that’s preceded it.” On issues such as birthright citizenship, TikTok, and immigration, the Trump administration has claimed the right to override Congressional statutes, while Congress, so far at least, has been hesitant to assert its own constitutional powers. Goodman shares his perspective on what has transpired at the FBI, the Department of Justice, and the military, and explains what to look for in the weeks and months ahead in regard to tests of resilience of these institutions and, more broadly, the separation of powers in our constitutional government.

What will immigration policy look like in the second Trump administration? How will it affect the country? To discuss, we are joined by Aaron Reichlin-Melnick, a leading expert on immigration and Senior Fellow at the American Immigration Council. In a wide-ranging analysis that covers the complex situation at the border—as well as the political and policy choices facing Trump and Congress—Reichlin-Melnick considers possible paths forward on immigration for the Trump administration and for the country. Reichlin-Melnick notes that while the president has wide authority to change immigration policies through executive action (particularly on legal immigration), some of Trump’s promises like mass deportations face significant political and legal constraints. This is a must-watch and nuanced Conversation alive to the complexities and real-world consequences of a pressing subject that has become so central to our politics.

Donald Trump will face major geopolitical challenges when he takes office. In this Conversation, Eric Edelman, former ambassador to Turkey and Finland and Under Secretary of Defense, shares his perspective. As he explains, Trump will face major decisions on all areas of the geopolitical landscape early in his term. Edelman argues that Israel’s military successes have weakened Iran’s “axis of resistance” and opened up new opportunities—but also raise the threat of Iranian nuclear breakout. Meanwhile, the war in Ukraine rages, the situation in Europe remains uncertain, and China’s military buildup increases. To meet the threats around the globe, we need to build up the military and defense industrial base, embrace American leadership, and strengthen our alliances. Will the Trump Administration do so?

How well might the political and legal norms of constitutional government fare in the second Trump administration? To discuss, we are joined by Jack Goldsmith, distinguished law professor at Harvard and former Assistant Attorney General in the Office of Legal Counsel. As Goldsmith explains, Trump has expressed ambitions to exercise unprecedented control over the federal government, with plans to change the Civil Service and administrative agencies, and wield the pardon power aggressively, among other methods. While emphasizing the broad powers the president has to shape policy and personnel, Goldsmith discusses the future of checks and balances that protect the rule of law. To preserve the guardrails of government, Goldsmith emphasizes the role and responsibility of Congress, political appointees, and bureaucrats maintaining fidelity to constitutional duties.

What should we expect in Donald Trump’s second term? To discuss, we are joined by John Bolton, who served as National Security Advisor in the Trump White House from 2018 to 2019 and with distinction in many prior Republican administrations. Drawing on insights from working closely with Trump in his first term, Bolton shares his perspective on what the second term might look like. Bolton argues Trump selected his cabinet nominees for “fealty” rather than competence—and he discusses the politicization and chaos in government agencies that could result. Bolton also considers the role of the Senate as a potential check on the president, and reflects more broadly on Trump’s approach to the presidency.

What do the results of the 2024 elections tell us about the state of American politics? Where might we be in 2026 and 2028? To discuss, we are joined again by Ron Brownstein, a senior editor at The Atlantic and a senior political analyst at CNN. According to Brownstein, the presidential election was a “national verdict of voters [who] were dissatisfied with what they got over the past four years. And whatever doubts they had about the alternative seemed to them less risky than continuing on the course that we are on.” As Brownstein explains, the data show many of Trump’s own voters had serious concerns about Trump and his policies. To this end, he argues that elections in 2026 and 2028 likely will turn on whether Trump pursues extreme and unpopular policies that cater to his base or governs in a way that appeals to the broader electorate.

Where does the race stand two weeks before Election Day? To discuss, we are joined by Ronald Brownstein, a senior editor at The Atlantic and a senior political analyst at CNN. According to Brownstein, the election is “closely balanced on the knife’s edge” and very subtle shifts among coalitions in the swing states easily could change the outcome. Brownstein shares his perspective on possible paths to victory for each candidate based on the current data, and what we ought to look for on the campaign trail and in the polling during the last days of the campaign. Following the election, Brownstein will rejoin us for a special Conversation to analyze and reflect on what the 2024 returns reveal about the electorate—and what we can learn from these trends about how our politics might play out in the years ahead.

How would the economy do under a Trump or Harris administration? To discuss, we are joined again by the distinguished Harvard economist Jason Furman, who was Chairman of the Council of Economic Advisers in President Obama’s second term. Furman shares his perspective on a wide variety of subjects including tariffs, trade policy with allies and adversaries, the dangers of a politicized Fed, inflation, and immigration. Forecasting economic policies under the two potential administrations, Furman contends that Kamala Harris would track Biden’s policies to some degree, but “her instincts are just a little bit more towards wanting to pal around with CEOs than labor leaders relative to Joe Biden.” As for Trump, Furman argues that “there’s one Trump, with responsible advisors, who doesn’t do anything he says on the campaign and things turn out basically fine. There’s another Trump who does follow through, and that could be a downside for growth and a large downside in terms of higher inflation.”

We face an ever more dangerous geopolitical environment. In this Conversation, Princeton professor and AEI nonresident senior fellow Aaron Friedberg analyzes America’s foreign policy challenges and considers how a Harris or Trump administration might approach the threats we face. According to Friedberg, the cooperation among Russia, China, Iran, North Korea “has grown more and more sophisticated and complex” in recent times, making the challenges in the Middle East, Eastern Europe, and Southeast Asia more difficult to address—as well as more interrelated. Friedberg argues that the volatility in American domestic politics makes predicting the American approach to countering these threats increasingly uncertain. As he puts it, “If Trump comes back, the range of possible policies in each of these areas is just much wider than would have been typically the case in the past”—and a key question with Harris is "To what extent does she share [Biden’s] gut instinct regarding American leadership?"

How might Tuesday’s debate shape the race in the weeks ahead? How can Harris capitalize on her performance? Will the debate affect the results in November? With less than eight weeks to Election Day, veteran Democratic strategist James Carville shares his advice to the Harris campaign and analysis of the race. As he puts it: “People still, for better or worse, know Trump. [Harris] had a great debate, a great convention, but still has some more to fill out here.” According to Carville, now Harris might benefit from giving speeches on issues from the economy to foreign policy. The Democratic base, he argues, “will allow her great leeway in appealing to more unaligned voters—and Trump doesn’t have that.” Carville and Kristol also discuss whether another debate will happen, Trump’s struggles to focus on issues, and possible key moments ahead in an extraordinary campaign.

Where do things stand in the race after the Democratic convention and before the presidential debate? When veteran political strategist Doug Sosnik joined us the day after Biden’s withdrawal from the race he explained why the next month could be decisive in the fight to define Harris. Reflecting on the first five weeks of the campaign, Sosnik argues that she has been successful: “so far Harris is winning the battle about the campaign being about change, and she is the change candidate—making the campaign about the future and not about the past.” However, he cautions that the race remains very close. As he puts it: “Harris is still running behind the Biden-Harris numbers in 2020, and measurably behind. So, she does have more ground she’s going to need to gain.” Sosnik shares his in-depth analysis of what the campaigns might do going forward, why the upcoming debate may be the most consequential in contemporary history, and the current dynamics in battleground states where the race will be decided.

Where do things stand in the race now that the matchup is set? According to veteran Democratic strategist James Carville, the replacement of Joe Biden by Kamala Harris has improved prospects for the Democrats—though “not as much as some people think.” As he puts it: “It’s like I tell people, if you have an infected wisdom tooth and you go to the dentist and they pull it out, you feel on top of the world—[but] God, you really don’t feel any better than you would if you never had the infected wisdom tooth.” In a race that may be won at the margins, as in 2016 and 2020, Carville explains that Harris must define herself and her candidacy successfully where she still isn’t well known. According to Carville, she has the opportunity to brand Trump as “past, yesterday, and stale”—but the Harris-Walz campaign must have a forward-looking message and run on concrete policy proposals. Carville also discusses the selection of Walz, the mood at Mar-a-Lago since Biden’s withdrawal from the race, how the Trump strategy against Harris might develop, and offers advice about whether to have and how to handle a Harris-Trump debate.

The withdrawal of Joe Biden from the presidential race three weeks after his disastrous debate performance, followed by the swift decision by Democrats to select Kamala Harris as the presumptive nominee, leaves us in uncharted waters. According to veteran political strategist Doug Sosnik, the broad contours of the 2024 election remain: “It’s a narrowly divided country. It’s a fairly even race. But Trump has the advantage in an Electoral College system that [today] favors Republicans.” Yet this election has been like no other. In this Conversation, Sosnik shares his analysis and practical advice for the next four weeks and the next four months. Sosnik explains why the next month may prove decisive. Each campaign now is racing to define Harris, and the stakes of the Democratic convention in August are higher than they have been in many decades. In the weeks ahead, Harris faces the daunting challenge of both running on strengths of the Biden-Harris record and presenting a case for the future that is her own—all as she decides on the most effective case to prosecute against Trump. This will not take place in a vacuum. At the same time, Harris will face an onslaught from the Trump campaign, which has done little advertising during the past weeks and has a war chest to spend on defining her. Sosnik warns that, to win, it is essential for Harris to avoid the peril of presidential candidates like Mitt Romney, John Kerry, and Bob Dole, who have allowed their opponents to define them before their nominations. As Sosnik puts it: “Success always begets more success in politics. So the more successful she is at consolidating the party, demonstrating her capacity to be the nominee, the more successful she is on the run-up to the convention, the more likely the convention is to be a success.” To that end, he argues that Harris's decisions over the next weeks—about her campaign staff, defining her vision, organizing a successful Democratic convention, selecting a strong vice-presidential candidate, etc.—likely will determine her prospects in November.

What should we make of Trump’s plans for the federal bureaucracy in a second term? In recent days, there has been extensive reporting about “Project 2025,” an agenda and road map that openly aims to politicize the civil service and render it more compliant with the executive. In this Conversation, we are joined by University of Pennsylvania political scientist John DiIulio, one of the leading experts on the civil service and bureaucracy in America. DiIulio takes the Project 2025 proposal seriously. But he argues that attacks on the permanent bureaucracy as a “Deep State" are misleading, because the federal agencies all are accountable and subject to Congressional oversight in meaningful ways. DiIulio considers the threat of a second Trump administration prioritizing loyalty over competency in the bureaucracy, the history of the civil service in the US, and what meaningful reforms of the bureaucracy might look like. DiIulio argues that above all we should focus on reforming the use of federal contractors, which remains the most unaccountable part of American government.

What is the state of the economy today and where might it be at the time of the November elections? To discuss, we are joined again by the distinguished Harvard economist Jason Furman, who was deputy director of the National Economic Council during the Financial Crisis and then served as Chairman of the Council of Economic Advisers in President Obama’s second term. As Furman puts it, in spite of the inflation of the past few years and other longer-term challenges, “We really are right now economically the envy of the world. So I think it makes a lot of sense that we worry about our problems and figure out what we can do to make it even better.” In a wide-ranging analysis, Furman shares his perspective on inflation, employment, debt, and both Biden and Trump economic policies regarding immigration, tariffs, and other questions. While highlighting the strength of the US economy today, Furman notes how public policy choices and domestic and world events could affect us in the long term.