Swamp Notes

Myles McCormick, FT U.S. economics correspondent who analyzes economic and political fallout, and Martha Muir, FT U.S. energy reporter covering electricity markets and utilities. They probe why U.S. power bills are climbing. They trace drivers from data centres and weather to grid upgrades and policy decisions. They explore regional differences and the political pressure mounting over affordability.

Claire Jones, U.S. economics editor at the FT, explains Kevin Warsh’s nomination for Fed chair. Lauren Fedor, Deputy Washington bureau chief, and James Politi, Washington bureau chief, unpack the political upheaval after a deadly border enforcement incident. They discuss the viral footage, shifting White House rhetoric, scaled-back immigration tactics, and what the policy pivot means for the administration’s final months.

Miles McCormick, U.S. economics correspondent at the Financial Times, provides crisp analysis on inflation, housing, and healthcare. He breaks down what is driving the affordability squeeze. He explores federal tools and limits to fixing prices. He discusses why healthcare costs soar and how subsidy lapses threaten coverage. He outlines housing supply challenges and the political fallout.

Abigail Hauslohner, FT U.S. foreign affairs correspondent covering diplomacy and on-the-ground reactions. Benn Steil, CFR director of international economics and geopolitics. They discuss Trump's Greenland threat and Davos fallout. They unpack the controversial Board of Peace and its centralization of power. They explore how allies’ trust and the postwar rules-based order may be reshaped.

Guy Chazan, a U.S. national correspondent for the Financial Times, teams up with legal expert Stefania Palma to tackle the escalating tensions between state governments and the Trump administration over immigration raids. They dive into the aftermath of a shooting by ICE in Minnesota that sparked widespread protests, exploring how grassroots activism is reshaping local responses. With insights on the limits of state authority versus federal power and legal battles over sanctuary cities, the conversation reveals the shifting landscape of federalism in America.

Edward Luce, U.S. national editor at the Financial Times, and Amy Mackinnon, the FT's foreign affairs correspondent, dive into the Trump administration's bold moves in foreign policy. They explore the tumultuous military operation aimed at capturing Nicolás Maduro and the administration's desire for control in the Western Hemisphere. The discussion covers Trump's fixation on Greenland, the implications of the Monroe Doctrine, and the political ramifications of intervention. Luce and Mackinnon also analyze the risks and legalities surrounding these strategies, questioning the costs of such audacious ambitions.

In this engaging discussion, Derek Brower, FT U.S. News Editor, and Lauren Fedor, Deputy Washington Bureau Chief, reflect on the wild and bizarre political events of 2025. They dissect Trump's influence on the Federal Reserve, explore the dynamics of Democratic identity, and predict their strategies for the upcoming midterms. The guests also highlight the shifting sentiments among Latino voters and the potential implications of economic risks, including a looming AI backlash, that could reshape political landscapes in the near future.

Join Miranda Green, a sharp FT political commentator, and Jim Pickard, an insightful FT political correspondent, as they dive into a festive quiz showdown. They tackle tough questions about the Labour frontbench resignations and recall the memorable moments of 2025, including Starmer's foreign visits and quirky summer events. With predictions for 2026 and a fun-filled gingerbread gift prop, the banter flows as they vie for the title of Wonk-in-Chief while celebrating the year in British politics.

Guy Chazan, a U.S. national correspondent for the Financial Times, and Lauren Fedor, Deputy Washington Bureau Chief, dive into the urgent healthcare debate in Congress. They discuss how a few Republican lawmakers defied their party to push for extending vital healthcare subsidies that are set to expire. With potential premium hikes looming, they highlight the dire financial impact on middle-income families and share a poignant case study from West Virginia. The political ramifications for upcoming elections also loom large as both parties navigate this critical issue.

Ian Hodgson, a data reporter at the Financial Times, joins host Sonja Hutson to explore the complex landscape for teens in Trump’s America. They visit Liberty High School in Bethlehem to understand young people's experiences shaped by political polarization and economic anxiety. Discussions reveal how social media influences political identities and how shifting algorithms impact views. The episode also delves into gender divides in youth politics and students' concerns about jobs, climate change, and housing pressures.