In a remarkable political comeback, Donald Trump became the second U.S. President to win a non-consecutive term in the 2024 election, held just eight weeks prior to this article's publication on December 31, 2024. Trump's victory was certified on January 9, 2025, with Kamala Harris presiding over the certification. He won all seven swing states and a majority of the popular vote, marking the first Republican to achieve this in twenty years [123468fe]. Trump's electoral vote tally was a decisive 312–226, reflecting a significant shift in voter sentiment [4c40c7df]. This election cycle was marked by a record number of mail-in ballots, with 65.6 million cast in 2020, which had previously favored Biden [4c40c7df].
Trump's approval ratings had suffered after the January 6, 2021, Capitol riot, which led to his impeachment in December 2019. However, as inflation rose significantly in 2022, many voters began to reassess their priorities, focusing on economic stability and job creation [4c40c7df]. This shift was evident in Trump's campaign, which emphasized economic recovery and immigration reform, resonating with voters who felt left behind by the Democratic Party's focus on cultural issues [3e740f67][84d5c1b1].
The election was not without its challenges for Trump; he survived an assassination attempt on July 13, 2024, which heightened tensions and drew national attention to his campaign [4c40c7df]. Despite facing four indictments in 2023, Trump's resilience and ability to connect with his base proved pivotal in his return to the White House [4c40c7df].
In the aftermath of the election, a focus group conducted by The New York Times with Trump voters revealed their expectations for his second term. Participants expressed a desire for economic growth and a hardline stance on immigration, reflecting a broader sentiment among voters who prioritize economic issues over social ones [3af5acc1].
As Trump takes office again, Wall Street faces challenges with a shaky end to 2024, and market metrics indicate potential for a historic crash. Signs of recession are emerging, including higher unemployment and lower interest rates, alongside anticipated currency and trade wars due to a strong dollar [123468fe]. Analysts are closely watching how Trump's administration will navigate these challenges, especially in light of Biden's perceived failures in international diplomacy [db765132].
The Biden administration is reportedly signing contracts to bind spending before Trump takes office, which may impact his agenda aimed at boosting U.S. energy and manufacturing jobs [123468fe]. Meanwhile, the Democratic Party faces the daunting task of regaining voter trust and addressing the concerns of marginalized communities, particularly as reports of racial tensions have surfaced following the election [495945e5]. The interplay between economic realities and the political landscape will continue to evolve as both parties adjust to the new dynamics introduced by Trump's comeback [7970553a].