Mashadipati: Trump pivots back to affordability

Good morning. Donald Trump pivots back to affordability. Twentysomethings are training AI to replace white-collar jobs. And OpenTable is back on the menu. Listen to the day’s top stories.

— Angela Cullen

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Donald Trump turned his attention to voters’ cost-of-living concerns as he sought to promote his economic record ahead of midterm elections. Downplaying fears about higher prices stemming from the war in Iran, he derided inflation as “fake” and said the war “is going along swimmingly,” adding that a deal to end it could be announced “fairly soon.” While gas prices at the pump are surging everywhere, they sting more in cities where driving is the only option.

Stock markets appear to be shaking off the dust, but sentiment on Wall Street toward the dollar has turned gloomy. Hedge funds are happy, though. Firms including Point72, Jain Global and Millennium have recouped their war-related losses as the current ceasefire fuels optimism the conflict could end soon.

Meanwhile, Trump’s broadsides against Pope Leo XIV and lambasting of one-time close allies from Giorgia Meloni to Keir Starmer have only served to deepen his isolation on the global stage. Enter Xi Jinping, who’s wrapping up a fervent week of diplomacy as he positions China as a source of stability and bulwark of respect for international rules. Xi’s foreign minister, Wang Yi, pledged to deepen relations with Rome.

Back home, Democrats are making headway. Analilia Mejia, a longtime labor organizer backed by Bernie Sanders, is projected to win the special election in New Jersey’s 11th Congressional District. Mejia would serve the remainder of Mikie Sherrill’s term after she was elected governor.

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Deep Dive: Bracing for Climate Change

The 801st RED HORSE Training Squadron hosted five members of the Royal Canadian Air Force alongside United States Airmen for an airfield Rapid Damage Repair course at Tyndall Air Force Base, Florida. RCAF's participation served a dual purpose - not only as a training opportunity, but also as a step toward rebuilding a capability that had diminished over decades. Joint efforts like the RDR course highlight the shared commitment to readiness, innovation, and mutual support. Photographer: Patrick Focke/US Department of Defense — Tyndall AFB is being rebuilt as a super-resilient “installation of the future.”

Inside Pete Hegseth’s Pentagon, climate has become a “dirty word,” but that doesn’t mean the military isn’t bracing for a battle against storms, fires, floods and rising seas. Just look at the reconstruction work going on at Tyndall Air Force Base in Florida for evidence of that.

There, the wreckage caused by Hurricane Michael in 2018 remains visible as builders toil to complete the “installation of the future,” even if such work is now framed around general “resilience” and “readiness” rather than naming the climate threat directly.
Global warming impinges on US security and military operations in many ways. Typhoon Mawar, which struck Guam three years ago, exposed the uncomfortable reality that many of America’s most strategic assets are in places increasingly vulnerable to extreme weather.
That hasn’t stopped Donald Trump from doing his utmost to scrap the bedrock of climate rules, even directing the Pentagon to buy electricity from coal-fired plants.
In that political environment, corporations are also retreating from their commitments to reduce carbon emissions as the US president wades into their industries.
But, ultimately, “the military is a very pragmatic institution,” says John Conger, past director of the nonprofit Center for Climate and Security and a top Defense Department official under Barack Obama. “Whether we’re going to call it ‘climate,’ not ‘climate,’ whatever—if I can’t get to the base because the road is flooded, that’s a problem.”

The Big Take

“We believe that a large portion of what humans do in companies is going to transform to training agents,” says Foody (right). Photographer: Damien Maloney for Bloomberg Businessweek — “A large portion of what humans do in companies is going to transform to training agents,” says Mercor co-founder Brendan Foody (right).

A $10 billion startup is training AI to replicate most professional work. It was co-founded by twentysomethings who previously never held a real job.

Big Take Podcast

A meeting of the World Bank Development Committee during the International Monetary Fund (IMF) and World Bank Spring meetings at the IMF headquarters in Washington, DC, US, on Thursday, April 16, 2026. The International Monetary Fund downgraded its growth projection for the year after the war in the Middle East triggered a major oil shock and included the possibility of a downturn if the conflict drags on and energy infrastructure is severally damaged. Photographer: Samuel Corum/Bloomberg

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Opinion

TOPSHOT - This photo illustration created on April 13, 2026 shows a picture of US President Donald Trump on a screen and an AI-generated picture he posted on his Truth Social platform depicting himself as Jesus Christ after criticizing Pope Leo XIV. Trump later posted an AI-generated image seemingly depicting himself as Jesus Christ. In the image, the president appears dressed in red and white robes as he cures a man with his healing hand. The American flag is shown over his shoulder. Trump and the White House have previously shared AI-generated images, including one that showed the president dressed as the pope. (Photo by Mandel NGAN / AFP via Getty Images) / NOTE TO EDITORS : ADDITION OF THE AFP VISUAL LABEL TO THE IMAGE GENERATED BY ARTIFICIAL INTELLIGENCE Photographer: MANDEL NGAN/AFP

Donald Trump’s second term isn’t even at half-time, but the world is already bidding adieu to America’s old global dream factory and bracing for more Nightmare on Pennsylvania Avenue, writes Andreas Kluth. Other powers, like China, will gather up the soft power that the US cedes, and their values won’t necessarily prize freedom and justice.

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Before You Go

OpenTable CEO Debby Soo at Niku in San Francisco. Photographer: Alanna Hale for Bloomberg Businessweek — OpenTable CEO Debby Soo at Niku in San Francisco.

OpenTable veered off-course by targeting the wrong customers, everyday diners. When it started hemorrhaging marquee eateries, CEO Debby Soo came to the blunt realization: “Restaurants hated us.” Now she appears to be righting the ship, as more and more pony up for its service included coveted names like Aska in Brooklyn, Daisies in Chicago, and SingleThread in Sonoma County.

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When Bob Lee, a well-known tech executive famous for creating Cash App, was found stabbed to death in San Francisco, his killing set off a wave of online fury. Many in the tech community placed blame directly at the feet of San Francisco politicians. But when a suspect was arrested for his murder, it became clear that the rumors could not be further from the truth. Listen to the Foundering: The Killing of Bob Lee, wherever you get your podcasts.

Trump pivots back to affordability

Deep Dive: Bracing for Climate Change

The Big Take

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Washington Edition: An indefinite ceasefire