Donald Trump: What’s Next
Author: Greg Valliere
November 14, 2025
We got an update yesterday (off the record) with a Trump Administration insider, who offered the following predictions for the weeks ahead.
Donald Trump’s sudden swoon in the polls is reversible, but it worries his aides on two fronts:
First, the softening economy may not get much medicine from the Federal Reserve, which may have to move slowly until there’s clarity on the economy.
Second, the persistent drumbeat overJeffrey Epstein is a huge wild card that may dissipate by spring but Trump’s advisers worry about defections from his MAGA base.
Stimulus: Trump has been stung by charges that the economy is faltering, and he will propose tax cuts and nominate the most dovish Fed officials he can find. Another shutdown, beginning Jan 30,. Is unlikely.
Tariffs: In private, the majority of Trump aides oppose tariffs and he finally may realize that tariffs have to soften. Even relations between the US and Canada may improve.
Elections: if the midterm elections were held today, the Republicans would lose the House, decisively, and House Democrats would then move to impeach Trump. The GOP might keep the Senate — but that outlook has tightened.
Geopolitics: As we wrote yesterday, Ukraine is faltering — as Trump turns to the next conflict, in the Caribbean. Defense spending is headed higher.
The biggest wild card: In private, his advisers worry about Trump’s health. He looks exhausted, sleeps very little and wears a heavy coat when it’s warm outside.
But betting against Trump is unwise, his advisers assert; they’re convinced that a brief economic slowdown might drive interest rates lower. As for the repulsive Epstein, his legacy won’t bring down Trump.
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