Corporate America is entering the second year of Donald Trump’s second term with a new, hard-won understanding: The president’s personal interventions can shape business as profoundly as any economic force.
Trump has stunned Wall Street by calling for a 10% cap on credit card interest rates. He’s pressuring energy companies into rebuilding Venezuela’s crippled oil infrastructure. His administration’s criminal investigation into Federal Reserve Chair Jerome Powell threatens the future independence of US monetary policy.
Those are just the moves in recent days. From public attacks on media conglomerates to the ever-present threat of new tariffs, Trump has spent ...
