Trump 2.0 will inherit a robust US economy, characterized by a projected 2.6% real GDP growth in 2024, outperforming major developed markets. While consumer spending remains strong due to rising disposable incomes, the labor market is moderating, with a slight increase in unemployment to around 4%. Rate cuts are anticipated, totaling 100bps in 2025, amid inflationary pressures from proposed tax cuts and tariffs.