Economic advisors in Donald Trump's orbit are clashing over their favored policy ideas, a fight that is spilling into public view as they jockey for influence over the presumptive Republican presidential nominee's second-term plans.
In recent weeks, informal advisors have floated ideas such as penalties for countries that shift away from the U.S. dollar; a proposal for a flat tax and reforms to the Federal Reserve to give the president more control over the independent central bank.
The only problem with these ideas? Trump himself has not signed off on any of them and the unauthorized policy plans are annoying his top campaign staff.
While he has groused about the Chinese yuan, the high cost of housing or the Fed's stubbornly high interest rates in passing conversations with advisers, he hasn't voiced support for specific ideas to tackle these problems, nor has he requested a formal plan from his cadre of informal economic advisors, Wall Street donors or the conservative think tanks seeking to sway Trump.
The public jockeying and extreme ideas from various factions within Republican circles undercut the strategy of a remarkably disciplined campaign that has helped Trump cruise to the party's nomination even as he's mired in court cases.
The plans, which often embrace fringe economic ideas, reinforce Trump's political unorthodoxy, leaving voters — and markets — uncertain on what he would do with a second term.
These economic trial balloons have infuriated top Trump campaign officials and created distractions as they prepare for the general election.
The campaign is consumed with managing Trump's appearances at his ongoing criminal trial in New York City involving hush-money payments, and figuring out ways to generate political momentum from the days in court.
They are also busy strategizing how to win key swing states in November and planning fundraisers, as they try to close a wide campaign cash gap with President Joe Biden.
One person familiar with the proposals compared the recent raft of economic ideas to Trump officials frequently appearing on TV when he was president, in the hopes he would catch their appearance and they could shape his viewpoint.
Policy Plans
A handful of conservative think tanks have been generating white papers and collecting resumes to prepare for a return of Trump, including the Heritage Foundation, America First Policy Institute, Conservative Partnership Institute and the Center for Renewing America.
Trump is also receiving economic advice from former top officials, including director of the Office of Management and Budget Russ Vought, former U.S. Trade Representative Robert Lighthizer, former head of the Council of Economic Advisors Kevin Hassett and former National Economic Council Director Larry Kudlow, along with wealthy donors including John Paulson and Scott Bessent, both of whom have been floated as potential candidates for Treasury Secretary.
Many of his key advisers don't support ideas to meddle with the Fed.
For months, the Trump campaign has been trying to rein in proposals from various factions with limited success.
