Axios

President-elect Trump tapped Susie Wiles, his co-campaign manager, as his White House chief of staff and the first woman to serve in the role on Thursday.

Why it matters: Wiles was key to Trump's reelection campaign, viewed as the person responsible for helping keep his bid for the White House more disciplined.

House Republicans claimed a mandate for their 2025 agenda and celebrated keeping their majority Thursday, even as they remain shy of the seats needed to officially secure continued control of the chamber in January.

Why it matters: The jubilant tone of Republicans' first conference-wide call since Tuesday's elections underscores how confident Speaker Mike Johnson (R-La.) and other GOP leaders are that the battle for the House will break their way — an outcome that seemed unlikely just days ago.

Hours after Donald Trump recaptured the White House, at least one major American company is already making plans to shift production out of China.

Why it matters: Trump has threatened to ramp up tariffs on China to put pressure on Beijing, but experts fear a trade war could reignite inflation here at home.

House Democrats will hold their leadership elections on Nov. 19 and 20, Democratic caucus chair Pete Aguilar (D-Calif.) announced Thursday.

Why it matters: House Minority Leader Hakeem Jeffries (D-N.Y.) and his deputies are poised to continue leading House Democrats for the the next two years.

Federal Reserve chair Jerome Powell told reporters on Thursday he will not resign before the end of his term, even if President-elect Trump asks him to leave.

Why it matters: Powell's intention to serve out the rest of his term sets up a new battle between the central bank and Trump, who disregarded long-time norms that presidents do not talk about Fed policy.

David McCormick, the GOP candidate endorsed by President-elect Trump, defeated incumbent Sen. Bob Casey (D) in Pennsylvania's U.S. Senate race on Thursday, AP projected.

Why it matters: McCormick's victory is another win for Senate Republicans, who already retook the chamber, as the party ousted other incumbents in states including Ohio and Montana.

The White House is committed to making sure Ukraine has "everything that they need on the battlefield" during President Biden's limited time left in office, Press Secretary Karine Jean-Pierre said at a Thursday briefing.

Why it matters: President-elect Trump has openly and repeatedly criticized military aid to Ukraine, triggering concerns about what his policy approach to the war-torn nation will look like among NATO allies.

Buckle up: President-elect Trump plans fast action on a business-friendly agenda of tax cuts, deregulation and expanded energy production, his advisers tell us.

Why it matters: Trump plans to load his White House and Cabinet with business- and tech-friendly executives, and stretch the powers of the presidency to force quick changes.

The Heritage Foundation's Project 2025, which President-elect Trump's allies have touted as the incoming administration's agenda, outlines vast plans for rolling back rights and protections for LGBTQ+ people.

The big picture: If implemented, Project 2025 would reshape the fabric of American life by expanding the power of the presidency, shrinking the social safety net and rolling back rights for a vast swath of Americans.

Gov. Gavin Newsom on Thursday called a special session to "safeguard California values and fundamental rights in the face of an incoming Trump administration."

Why it matters: Newsom's proclamation is the latest indication that California officials are positioning the state as the first line of defense under a second Trump presidency.

One factor with a startlingly strong record of predicting whether a state voted Trump or Harris: the percentage of their population that graduated college.

Why it matters: America has split, and flipped, by education levels. Democrats have largely lost the working-class voters who elected Barack Obama, and college-educated professionals are shifting away from the Republican Party.

Shortly after firing Israel's defense minister, Prime Minister Benjamin Netanyahu told the Biden administration on Tuesday that he's not planning a wider purge of military, security and intelligence leaders, two U.S. officials told Axios.

Why it matters: Yoav Gallant was the Biden administration's key partner in Israel as it fights a multifront war in the Middle East. His firing shocked the White House, and the Pentagon and raised questions about the reasons for Netanyahu's national security decisions.

House Minority Leader Hakeem Jeffries (D-N.Y.) on Thursday congratulated President-elect Donald Trump for winning the 2024 presidential election.

Why it matters: The House Democratic leader used his statement as an opportunity to draw a stark contrast with Republicans in 2020, saying he is "proud that the Democratic Party does not believe in election denial."

President-elect Trump's victory was driven by gains among young voters that the campaign targeted through a media blitz in the final months leading up to the general election.

Why it matters: It's another lesson in how hyper-targeted communications — identifying what resonates with these audiences, meeting them where they are and engaging with voices they trust — should be a key part of the comms playbook.

President Biden said Thursday from the White House Rose Garden that "setbacks are unavoidable, but giving up is unforgivable," as he encouraged his supporters to keep fighting for the "America of your dreams."

Why it matters: Biden's remarks come as the Democratic Party is reeling over President-elect Trump's decisive victory over Vice President Harris — and the finger-pointing has already begun.

There is a simple, core lesson to be gleaned from the Democrats' decisive loss in Tuesday's election, along with similar flips in political control this year in nations from Britain to Japan: People absolutely loathe inflation.

Why it matters: As global policymakers shape their strategies for the years ahead, they may wish to weight even more heavily the pain — and political upheaval — that result if they can't achieve stable prices.

Mexico will need to carefully navigate its relationship with the U.S. in the second Trump administration given his promises of mass deportations, tariffs and threats to send American troops south of the border, experts say.

Why it matters: Mexico is the United States' largest trading partner, and the shared 1,950-mile border also means the bilateral relation is key for dealing with drug and arms trafficking as well as migration flows.

Growing Latino support for some of President-elect Trump's harsh immigration policies is nothing new: Decades ago, anti-immigrant sentiment was the status quo among many Latino civil rights leaders.

Why it matters: Latinos helped propel Trump to the White House despite the racist rhetoric he's used to describe undocumented immigrants and his promises for mass deportations, which historically have swept up some Hispanic U.S. citizens.

The number of Latinos in the U.S. Senate is increasing from five to six — or possibly seven, if Democratic U.S. Rep. Ruben Gallego wins his bid in Arizona.

The big picture: Latinos' power in the next Congress is still unclear because eight races in the House remain undecided.

Private equity giant The Carlyle Group on Thursday reported $367.1 million in distributable earnings during Q3 2024, beating analyst expectations.

What they're saying: CEO Harvey Schwartz told analysts that he expects existing economic tailwinds to intensify now that the election has been decided, which should increase dealmaking.

Elon Musk overpaid for Twitter when he bought it for $44 billion in late 2022, after unsuccessfully trying to renegotiate or renege.

Now a new conventional wisdom is emerging: Twitter is a loss leader for the rest of Elon Inc.

President-elect Trump in his return to the White House in 2025 has pledged to use a dramatic expansion of executive power to undermine protections for federal employees.

Why it matters: If reinstated, Trump's "Schedule F" executive order from his previous stay on Pennsylvania Ave. could effectively upend the modern civil service, opening the door for the newly-elected president to bring in his own loyalists in place of government bureaucrats.

President-elect Trump's MAGA allies wasted little time after his election win before openly celebrating that the Heritage Foundation's Project 2025 will set the agenda for his administration.

Why it matters: Trump repeatedly tried to distance himself from Project 2025 during the campaign, even going so far as claiming he knew nothing about it, despite the fact that it was written by many of his close allies.

The investor hive mind's early reaction: President-elect Trump threatens the trajectory and economics of low-carbon energy.

Why it matters: While wider equity markets soared, share prices in various "clean" sectors tumbled as Trump won and Republicans took the Senate.

While the world braced for the election earlier this week, acting labor secretary Julie Su was busy solving another crisis — helping to end the Boeing strike.

The big picture: It was at least the fifth time Su's stepped in to wrestle thorny union talks to a deal in the less than two years she's been in her role.

President-elect Trump may have been a pro-union candidate, but whether he'll be a pro-union president remains to be seen.

Why it matters: We're in the middle of a winning era for workers and unions, but with Trump's track record on labor during his first term — that time might be coming to an end.

Voters sent conflicting signals about abortion access on Tuesday, approving ballot proposals in seven states to expand abortion rights while also electing Republicans who could provide the margins to pass a nationwide ban next year.

Why it matters: The electorate didn't see a contradiction in expressing support for personal freedoms and voting for anti-abortion candidates.

Mortgage rates rose after President-elect Trump's victory and are expected to stay higher for longer, Redfin economic research lead Chen Zhao tells Axios.

Driving the news: In the hours since the election was called, the 10-year treasury yield jumped several basis points and mortgage rates touched 7.13%.

President-elect Donald Trump was backed by 46% of Latino voters Tuesday, surpassing Ronald Reagan and George W. Bush to win the biggest share of the national Latino vote by a Republican presidential contender in modern times, a new exit poll shows.

Why it matters: Trump's historic gains among Latino voters in a range of demographic voting blocs — particularly men — helped push Vice President Harris to the worst showing among Latinos for a Democratic presidential candidate in 20 years.

President-elect Trump wants to put familiar faces on his national security team after being burned during his first term.

Why it matters: Sources said Trump doesn't want former generals on his national security team and prefers businessmen and CEOs — but he's also considering a line-up of loyalists in prominent D.C. positions.

Donald J. Trump has vanquished the Bushes, the Clintons, the Bidens, the Obamas — and the entire establishment of both parties.

Why it matters: Trump is stronger than ever, backed by a party wholly remade in his image and opposed by demoralized and defeated Democrats.

America just elevated one man to an unfathomable status: the most powerful civilian — ever.

Why it matters: Elon Musk — the most influential backer of President-elect Trump, thanks to his money, time and X factor — now sits at the pinnacle of power in business, government influence and global information (and misinformation) flow.

For generations, young people were a core piece of the blue base. President-elect Trump has changed the calculus, at least for young men.

Why it matters: This realignment signals that the MAGA movement — with the support of a great deal of America’s youngest voters — has lasting power.

Some Silicon Valley leaders and investors who have long itched to apply their startup toolkit to government see a big opening in the Republican victory Tuesday, with Elon Musk taking charge of a Trump administration federal efficiency initiative.

Why it matters: Many Trump partisans in tech see Musk's takeover and transformation of Twitter as a model for how to go about reshaping the federal government.

President-elect Trump held his first discussions with world leaders on Wednesday since his presidential election win, as he received a series of congratulatory phone calls.

The big picture: Israeli Prime Minister Benjamin Netanyahu's office said he was "among the first to call" Trump, while India's prime minister and the offices of the Canadian PM and South Korean president also said they had conversations with the Republican leader.

The dust has not yet settled from the 2024 election, but the Democratic Party's blame game over their bleak showing has already begun in earnest.

Why it matters: Democrats across the ideological spectrum are quickly seizing on this raw moment to try to redefine the party in their image.

Sen. Tom Cotton (R-Ark.) has told President-elect Trump's team he will not be accepting administration roles, despite being a top contender for positions including CIA director and Secretary of Defense, two sources familiar tell Axios.

Why it matters: Cotton — a relatively young, conservative defense hawk — is a much-speculated future presidential contender.

Donald Trump's decisive victory over Vice President Harris was painful for Democrats — especially those who saw themselves in the candidacy of a Black and Asian woman trying to overcome a range of obstacles in a history-making run for president.

Why it matters: That's why, for many Democrats, Harris' defeat was both a personal setback and a political reckoning for their party as it grapples with a nation that's leaning to the right.

SHREVEPORT, La. — Should Republicans hold the House, Speaker Mike Johnson (R-La.) tells Axios it's because the GOP is focused on kitchen-table issues over Democrats' emphasis on abortion.

Why it matters: Democrats poured millions into highlighting Republicans' anti-abortion stances and what that could mean in a post-Roe world, but they were unable to translate that into the kind of success they achieved in the 2022 midterms.

Amazon founder Jeff Bezos, Meta's Mark Zuckerberg and Apple's Tim Cook were among the Big Tech leaders to take social media to congratulate President-elect Trump on his win Wednesday.

Why it matters: The industry is preparing for new policy positions brought by the new Trump administration, though any of them could quickly shift depending on the president's whims.

Senate Majority Leader Chuck Schumer (D-N.Y.) said Vice President Harris' platform will have "strong impacts" on the Democratic Party after it lost both the White House and control of the Senate.

Why it matters: Schumer quickly backed Harris after she became the party's nominee and now he needs to find a way to reclaim a Senate majority.