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In today’s edition, Donald Trump names Susie Wiles as his chief of staff, the Federal Reserve cuts i͏‌  ͏‌  ͏‌  ͏‌  ͏‌  ͏‌ 
 
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November 8, 2024
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Principals

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Today in DC
A map of Washington, DC
  1. Trump picks chief of staff
  2. Trump’s next big decision
  3. House GOP in array (mostly)
  4. Biden’s uphill battle
  5. Fed lowers rates
  6. Demographics debate
  7. The GOP’s climate priorities

PDB: Trump’s Wall Street talent pool

China unveils $1.4 trillion bailout package WSJ: Return of Trump’s ‘maximum pressure’ on Iran … Bloomberg: Biden admin races to complete chips deals

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1

Trump’s low-drama chief of staff pick

Susie Wiles
Brian Snyder/Reuters

Donald Trump’s pick of Susie Wiles as his White House chief of staff suggests a more drama-free administration this time around. The 67-year-old campaign co-manager, who would be the first woman in the position, knows how Trump and his orbit operate and was widely praised internally for running a disciplined campaign. She’s seen as less ideologically driven than some of Trump’s other confidants, which suggests she’ll be less inclined to steer Trump towards a preferred agenda. Internally, the chief of staff job was widely seen as Wiles’ for the taking — multiple people inside Trumpworld hailed the choice as a great pick, with many noting that she has Trump’s complete trust and has learned how to manage an unpredictable politician.

Shelby Talcott

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2

Will Trump weigh in on Senate GOP leadership race?

President-elect Donald Trump in front of a poster of himself
Brian Snyder/Reuters

Donald Trump has a big decision to make: Whether to wade into the increasingly tense race for Senate Republican leader among John Cornyn, John Thune and Rick Scott. It’s not clear whether Trump’s move would be decisive, but it would certainly upend the race, Semafor’s Burgess Everett reports. “I’ve got a good working relationship with him, and I’d welcome his support,” Scott told Semafor of Trump. “It’s a decision he’s got to make.” Senate Minority Whip Thune said on TV this week. It would be in Trump’s best interest to let the Senate GOP make its own decisions, and allied Sen. Markwayne Mullin explained why: “Because no matter who the winner is, he’s got to work with them.” He also left us with this cliffhanger quote: “There’s two people in the race that he’s okay with winning, and there’s one that he’s absolutely not.”

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3

A suddenly calm House leadership election

US Capitol
Leah Millis/File Photo/Reuters

The near-certain likelihood of Republican control in the House has brought calm to what could have been a rocky leadership fight. Speaker Mike Johnson, likely freed from squabbles over his leadership, is looking as strong as ever as he vows to get Donald Trump’s agenda enacted in the first 100 days of Congress. Steve Scalise, Tom Emmer and Elise Stefanik have also made their pitches to stay in their current roles, ranked Nos. 2-4 in the House hierarchy. It’s up in the air whether Rep. Richard Hudson, R-N.C., stays on as campaign chair or raises his hand to lead the powerful Energy and Commerce Committee. Reps. Kat Cammack, Rudy Yakym, and Darin LaHood are ready to run to replace him, if he leaves. And if Stefanik is tapped for the Trump administration, we’re told Reps. Ashley Hinson and Lisa McClain could run for her leadership seat.

— Kadia Goba

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4

Biden legacy threatened

President Joe Biden
Kevin Lamarque/Reuters

How will Joe Biden be remembered? Will it be as the president who exited too late for his would-be successor to mount an effective campaign, as some Democrats suggest? If Biden had passed the torch to the next generation instead of pursuing reelection, Democratic strategist Eddie Vale said, it might not have prevented a Trump victory but “it would have been a capstone on his legacy.” In remarks from the Rose Garden on Thursday, Biden drew attention to his legislative accomplishments — something allies say will be critical for him post-presidency. “I think he’ll need to work to make the administration accomplishments outshine what happened electorally. And that will take time,” a person who worked on the Biden and Harris campaigns told Semafor, likening it to what Jimmy Carter did after losing to Ronald Reagan.

Morgan Chalfant

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Mixed Signals

The 2024 election cycle is finally over — so, what’s coming to your screens next? Today, Ben and Nayeema dissect what the media learned from 2024 and where we go from here. They first chat to Semafor’s Max Tani about the news media, and then sit down with Ankler Media’s Janice Min — who has been reporting on (and embedded in) Hollywood culture for decades. The conversation tackles whether politics and art stay linked or divorce, if Donald Trump will wake up “wokeism” again or if Americans turn to escapism, and why TV is chasing the “gourmet cheeseburger.”

Listen to the latest episode of Mixed Signals now.

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5

Powell stares down another Trump term

A chart showing. theUS federal funds rate against inflation over the last five years

As the Federal Reserve cut interest rates by a quarter point, the focus turned to the next chapter in chair Jerome Powell’s contentious relationship with Donald Trump. Powell, who Trump nominated to the post but has since derided, told reporters that he would not step down if Trump asked him to resign. A president could not fire or demote him because it’s “not permitted under the law,” he said. Trump has expressed a desire to influence the Fed’s decisions on rates, and his allies have discussed plans to infringe on the central bank’s independence — setting the incoming administration on a likely collision course with Powell. Trump has big plans for taxes, tariffs, and spending that some expect to contribute to inflation. Wall Street is currently wondering whether his economic plans will change the trajectory of the Fed’s future rate decisions.

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6

The ‘demographics are destiny’ era of politics ends

A woman in a yellow hat and yellow shirt shows her back; her shirt says “I want everybody to vote!”
Kevin Mohatt/Reuters

If there’s one takeaway from the election results for both parties, it’s that it should explode the “demographics” conversation that’s dominated US politics this century, Semafor’s Benjy Sarlin writes. Donald Trump’s victory featured shifts to the right across the country, almost all largely attributed to the same grievances with the status quo. It proves that neither party can take any voter for granted, nor treat them as impossibly out of reach. But just as Trump’s win should provoke a round of Democratic soul-searching about their future, it should temper Republican overconfidence that they’re on the verge of any kind of durable “realignment.” If they can’t deliver for their new voters, history says they’ll find the same electoral wave crashing at their doorsteps — and soon, Benjy writes.

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7

The GOP’s climate priorities

President-elect Donald Trump and Elon Musk
Brian Snyder/File Photo/Reuters

With Donald Trump in the White House and a Republican sweep of Congress looking likely, the small but growing cohort of climate-focused conservatives has a chance to push for a different approach to the energy transition. Outright climate science denial is far less common among Republicans than it was during Trump’s first term, and the fact that most clean-energy funding from the Inflation Reduction Act has gone to Republican districts will make it politically untenable to repeal the law. But expect more support for advanced nuclear power, and for technologies like carbon capture and methane-based hydrogen that are favored by the oil and gas industry. A deal on permitting reform may also be more achievable: A spokesperson for Sen. Shelley Moore Capito, who is set to lead the environment and public works committee, said a top priority will be “to cut red tape that slows down infrastructure projects of all types.”

— Tim McDonnell

For more on the politics of the energy transition, subscribe to Semafor’s twice-weekly Net Zero newsletter. The latest edition is out later today. →

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PDB

Beltway Newsletters

Punchbowl News: Most Republicans and Democrats predict that the House GOP will have a narrow majority with between 218 and 221 seats, meaning the party will again face challenges passing anything in the new Congress.

Playbook: Democrats are debating whether to call for Supreme Court Justice Sonia Sotomayor to step down while they still control the Senate.

WaPo: “I’m not certain that any Democrat would have won this year,” outgoing Rep. Dean Phillips, D-Minn., who briefly challenged President Biden for the nomination, said. “We have to just acknowledge that Donald Trump is more than a passing fad.”

Axios: Kamala Harris’ campaign leaders pleaded with aides during a call last night not to talk to reporters.

White House

  • President Biden’s aides think that Vice President Harris lost the election in part because she steered away from attacks on big business and more populist messaging. — The Atlantic
  • Domestic policy adviser Neera Tanden was accused of violating the Hatch Act.

Congress

  • Republican David McCormick was projected to defeat incumbent Sen. Bob Casey, D-Pa., in the Pennsylvania Senate contest.
  • Rep. Gerry Connolly, D-Va., revealed that he has cancer.

Outside the Beltway

  • California Gov. Gavin Newsom called a special session of the state legislature in December to preempt actions by the incoming Trump administration.

Business

  • Nippon Steel hopes to close its $15 billion takeover of US Steel by the end of the year, according to Vice Chair Takahiro Mori.
A chart showing Trump’s allies on Wall Street, including John Paulson, Tom Barrack, and Scott Bessent

Courts

  • A New York judge gave Rudy Giuliani a week to turn over his Mercedes-Benz to poll workers he defamed following Donald Trump’s 2020 election loss, after he was seen in Palm Beach, Florida on Election Day in the car.

On the Trail

  • CBS and NBC projected that Donald Trump will win Nevada.
  • House Minority Leader Hakeem Jeffries said there is a “clear pathway” for a Democratic majority in the House while votes are still being counted for seats in the lower chamber.

National Security

  • The Consumer Financial Protection Bureau warned employees about using their phones for work following a Chinese hack of US telecommunications systems. — WSJ

Foreign Policy

  • Ukrainian President Volodymyr Zelenskyy pushed back on Donald Trump’s plan to reach a quick peace deal between Kyiv and Moscow, saying it would be a “loss” for his country.
  • Chinese leader Xi Jinping congratulated Trump on his election victory. Trump also spoke with El Salvador’s President Nayib Bukele, who said the two shared an “interesting conversation about his podcast strategy.”
  • Russian President Vladimir Putin praised Trump as a “real man” and congratulated him on his win.

Immigration

  • President-elect Donald Trump said “there is no price tag” for his plan to deport millions of undocumented immigrants. — NBC News

Climate

  • German Chancellor Olaf Scholz is skipping next week’s COP29 climate conference.

Blindspot

Stories that are being largely ignored by either left-leaning or right-leaning outlets, curated with help from our partners at Ground News.

What the Left isn’t reading: Argentine President Javier Milei is scheduled to meet with Donald Trump and Elon Musk next week.

What the Right isn’t reading: Seven abortion-rights measures were approved in state elections earlier this week.

Principals Team

Editors: Benjy Sarlin, Elana Schor, Morgan Chalfant

Reporters: Burgess Everett, Kadia Goba, Joseph Zeballos-Roig, Shelby Talcott, David Weigel

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One Good Text

David Weigel is a reporter covering politics for Semafor. He writes Semafor’s Americana newsletter.

Morgan Chalfant: The dust has basically settled. In your view, what was the biggest surprise of the election? David Weigel, Semafor politics reporter: It was a surprise that wouldn’t have been surprising four months ago: Democratic weakness in Nevada. Sen. Jacky Rosen pitched a no-hitter against a Republican candidate who was maybe best known for losing elections and using his PAC to pay off campaign debt. Democrats had, on their team, strategists who won almost every close Nevada race of the last decade. That this couldn’t overcome the red shift with Latino voters said everything.
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