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Facing Political Peril, Trump Tries To Reclaim His Populist Edge

Facing Political Peril, Trump Tries To Reclaim His Populist Edge

HuffPost
Sunday, January 18, 2026 12:37:57 PM UTC

The president faces two major obstacles: a skeptical public and a disinterested GOP.

Steve Bannon, once a top advisor to President Donald Trump, then a hated exile from his inner circle, now a reliable podcast-hosting ally, was hearing what he wanted to hear.

“He’s dealing with the mortgage issues. He’s dealing with the affordability of the housing issue,” Bannon said on Wednesday’s edition of his podcast, “War Room,” after talking to a Treasury Department official about what they presented as unambiguously strong economic news. “He’s getting into the big banks about capping interest rates at 10%. He’s all over full-spectrum energy dominance, and particularly dealing with these data centers to make sure they can’t come back on the grid and torch folks.”

“President Trump is on a populist tear right now for economics,” Bannon declared. “And we love it!”

The White House is hoping voters react the way Bannon does, which could turn around Trump’s poor political standing, revive the GOP’s faltering hopes for a midterm in which they are at risk of losing control of both houses of Congress, and reinforce the flickering aura of inevitability Trump tries to project as he moves to centralize power.

Unfortunately for the administration, this populist push may be both too little, too late for voters and too much, too soon for Congressional Republicans. Trump’s recent wave of policy rollouts — including a proposal to ban large corporations from buying single-family homes, a call to cap credit card interest rates at 10% and a ban on defense contractors issuing stock dividends — are clear attempts to convince voters the populist businessman they trusted to fix the economy in 2024 is still on their side.

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