it's a political victory that our country has never seen

before. >> president-elect donald trump's transition is already underway. vice president kamala harris delivering a concession speech a day after losing a landslide election to former president donald trump. this is not a time to throw up our hands . this is a time to roll up our sleeves. >> it is really shocking, and kind of disappointing. >> i'm really hoping he can bring himself in a little bit, and continue doing the work he was doing. hello and welcome to our viewers joining us from around the world. i am erica hill, life from new york. it is thursday, november 7th. we begin in south florida, where donald trump is ready to move on his second term agenda and could announce staff peaks

within a matter of days. his allies are said to be jockeying at this point for key positions in the administration . source is also telling see it in, trump is preparing a raft of executive orders and reversals for his first day on the job. trump also has pretty important decisions to make about the roles for some of his most vibrant supporters, including billionaire elon musk , former presidential candidate rfk junior as well. a top cabinet position could also go to senator tom cotton, former secretary of state mike pompeo. kamala harris, meantime, has cultural to offer her congratulations. the vice president telling supporters in washington with the, while she conceived the election, she does not concede the fight that fueled her campaign . >> this is not a time to throw up our hands, this is a time to roll up our sleeves. this is a time to organize , to mobilize , and to stay engaged for the sake of freedom and justice ,

and the future that we all know we can build together. >> harris and president joe biden have both promised a peaceful transfer of power . mr. biden is said to address the nation from the rose garden later today and has invited president-elect trump to the white house. cnn has more now on the next steps for donald trump. president-elect donald trump's transition is already underway , even before the election actually took place, the heads of the transition team were already trying to get potential candidates for high-level administration posts. i am told that all day today, donald trump was fielding calls from allies, donors, as well as advisors , all people trying to get in his ear , either to pitch themselves for administration posts, or to pitch people that they knew . it is now turning into an all out knife fights between trump's orbit , as they try to prove who has been the most loyal to him and who

deserves a spot on his cabinet were within his administration . one place to look at and fill in these administration posts is project 2025. obviously, as we know, donald trump has sought to distance himself from roger 2025 this campaign cycle, particularly the policy. even though they want to separate from the policy, they also had project 2025, a smaller, lesser known about personal filing system , run by donnie my can see, still a close trump ally. they essentially vetted thousands of people for these potential administration posts . these are people they deemed loyal to donald trump. they are expected to provide recommendations to the transition to fill in the thousands of posts that will be available when donald trump takes office. it really is a rush here. there are a lot of big-time positions that people want and we are told that donald trump's team wants to fill those positions as quickly as possible and could even name some of these people as early as this week . think about positions like chief of staff,

attorney general . these are the things that really matter to donald trump and really matter in any administration . all of that is currently happening, the wheels in motion as we start heading towards that trump residency. kristen holmes, cnn west palm beach, florida. ahead of the transition, the nation's leaders offering their congratulations. former president barack obama and his wife, michelle obama saying, obviously, this is not the outcome we had hoped quote, for, giving our disagreements on a whole host of issues, but living in a democracy is about recognizing that our point of view will not always win out, and being able to accept the peaceful transfer of power. bill and hillary clinton praised the harris campaign and went on to say they wish the president-elect will come and also said, they hope he will govern for all americans. former president george w. was vice president biden harris and president biden for their service and congratulated

president-elect donald trump. the last time we spoke, we did not know it would happen come here we are . president-elect donald trump, as we just heard, preparing from kristen holmes, is transition. he also was very clear , promises made , promises kept. he made a lot of promises, whether it was mass deportation , making good on his promise, right, to go after some of his enemies, but also lowering prices. what do you think he needs to do in this first 100 days? >> i think you are right that these next four years will be trump unleashed and untethered by the process of another election. the first 100 is, we have to take trump at his word, he plans on infecting retribution toward using the federal government and state apparatuses to after political adversaries. in terms of policy, i think we can expect a litany of standard republican orthodoxy. he will try to get

his 2017 tax cuts made permanent. he will try to lower the corporate tax rate from 21% to 15%, push for more deregulation, especially within the administrative state , he wants to impose fewer constraints on energy production domestically, and on tariffs , probably the first thing he might do, he has pledged to impose upwards of 20% tariffs on all imports into the united states, upwards of 60% from china. >> in terms of getting all of that done, our report is there is already work happening when it comes to executive orders, also rolling back of existing regulation. the fact that donald trump is coming in with a decisive victory from voters in the united states, he will also be joined by a senate and that of course is controlled by republicans, and the house is leaning that way. how much easier will that make it for him in terms of getting those priorities done? >> certainly having a unified government on capitol hill will

go a long way toward helping trump at the achieve at least some of his priorities. we still need to keep in mind, republicans will still not have 60% of votes to override buster in the senate. despite having majority there, there are still constraints on what trump can do. especially during these first 100 days, i really think presidents usually have kind of one opportunity to pick one , big legislative item. for george w. bush, it was no child left, for barack obama, it was the affordable care act . for donald trump in his first term, it was these tax cuts. and for joe biden, it was the american rescue plan, and eventually the reconstruction bill. >> this was consistent for months, frankly, their top issues were economy and immigration. they really felt donald trump was the one who was going to change both of those things for them. you mentioned a couple of things that we could see in terms of his priority for the first 100 days. when it comes to the

economy, there's a promise of lowering prices, but that these tariffs can do the exact opposite. >> absolutely agree with you, tariffs and mass deportation is hard to think of that any other policies that would be more probationary than that. both will raise prices. of course, trump's pledge to deregulate particularly the industry could have cancer bearing pressures. trump on the economy, i don't think he is going to raise prices if he pursues the policies that he is advocating. >> when we look at things from the democratic point of view, there's a lot of soul-searching going on, and there will be for some time to come. there is finger-pointing as well when it comes to the harris campaign and when it comes to the former president, quite friendly. i want to start with a comment from bernie sanders who says, the party abandoned working-class people. it should not come as a surprise that the working-class had abandoned them. was that

the biggest issue, do you think me or something more? >> there certainly needs to be a postmortem among democrats for what went wrong for the harris campaign. how the party could lose to someone who has been impeached twice, criminally convicted, tarred by scandals, whipped up an insurrection at the capitol four years ago. by democrats can't win an election under that scenario four years ago, has to be answered. is there something in the democratic party can do that has led to this disappointment? i think bernie sanders has a point, ultimately, white working voters in particular have almost entirely shifted over to the republican party. donald trump has staged this climate. he has been very successful. i think democrats spend a little too much time talking about cultural issues. i think they spent too little time talking about the economy, and ways to make prices more reasonable, and to improve jobs. >> there's also the issue of the data versus the vibes as we have been talking about for months. the data has been pretty positive when it comes to the economy. unemployment is

low, inflation is down, a strong gdp report last week . the reality is, people don't fill it. that was a part of the messaging that had been pointed out, frankly, for some time, even when joe biden was still on the ticket that was not working for democrats. messaging has been a problem for democrats for decades, this is not new. >> i completely agree with you. i think joe biden did not do a very good job at going out to the country and touting all of this his legislation achievements. you go down the list, pandemic responsibility, inflation reduction act, the infrastructure bill, all of these are great policies, all of these are bipartisan, more or less, initiatives that have a real positive impact on the american people. whenever it comes to public relations, he just was not out there selling it, or to the extent he was selling it, he was not using language that resonated with the american public. >> joe biden is set to speak to the american public today a little later this morning, a few hours from now. what do you expect him to say? what should

he say? >> i don't know if there is much he can say at this point. i have not considered that question . i think that he basically needs to kind of strike a tone of optimism . say that it is important for democrats to work with republicans where they can find a compromise, because that is putting the interest of the country above the interest of the party and a number of democrats already, including elizabeth warren, using language such as, we will fight tooth and nail, the trump administration on every single issue. i don't think that is the right message. america wants the country to come together. of course, there are substantive and fundamental disagreements between the democratic and the republican party, either work well together where we can, and fights where we can. i think that is the tone that biden should strike. >> good to talk to you this morning. thank you. european leaders of course now preparing for a second trump presidency. by some of them are happier about it than

others. plus, ukraine is hoping its support for the fight against the russian invasion is hoping this will continue under the trump 's presidency. later, governed by the motto promises made, promises kept . we will take a closer look at some of those promises from the campaign trail, including plants for day one when he returns to the white house. stay with us.

european leaders know how tricky it will be to have a stable relationship with the united states with donald trump at the helm. emphasizing existing bonds with the u.s. in existing countries. european president saying, quote, the eu and u.s. are more than just allies we are bound by a true partnership between our peoples, and is urging them to continue to work together. among the other leaders, ukraine's president, course, also appealing to trump's pride in their messages as they hope to build a good working relationship with them. clare sebastian joining me from london. there was some expectation about what a second trump administration would look like among world leaders. now, they know what it is . the reality is, they have been

planning for this, claire. >> that is absolutely the reality. in fact, we see european leaders meeting today in budapest. i was at the last one in july and the uk, and they were already telling me that , this was sort of baked in. i remember the belgian prime minister said, they were planning for more america first , whoever would win in november. trump has made it clear, he thinks europe should show more responsibility for its own security. europe is finally trying to do this. we have seen this with increased defense production, actions like europe taking control under nato, taking control of the ordination under military supplies for ukraine, previously under u.s. control. there is clearly an effort underway . certainly, a trump victory would concentrate the mind under this. what we hear in those congratulatory messages from european leaders, expressions, emphasis on the unity with the u.s., i think this will definitely focus attention on inter-european unity. they will have to pull

together more than ever on issues like defense production, nato, on support for ukraine when it comes to institutions like nato and the eu. there is really at medical moment for these leaders. interesting, this meeting is in budapest, because very much the outlier here, very jubilant over the trump victory. in general, we see this as a very concentrated moment to european leaders, and some tribulation, as to what will come. >> specifically what will come in ukraine. a lot of that concern, obviously, shouldered by resident zelinski and those in ukraine . the reality is, donald trump has claimed that he could end this war in 24 hours. there has also been reporting that part of that would likely include, from his view, some ceding of territory by ukraine to russia. what is the sense in ukraine this morning about what this will mean? >> so, it is a little nuanced, actually, erica. on the one hand, yes, the rhetoric that

has been coming from the trump campaign has been extremely concerning . you remember, of course trump stepped up his rhetoric when he was in the u.s. around the u.n. general assembly, calling him the greatest sales , when he comes to the u.s. and always goes back with 100 billion. again, when we look at the status quo under the biden administration, which you can assume would have been continued if kamala harris would have won that is also not going very well for ukraine , the trickle of the redlines they have expressed, all of that has brought ukraine to a point now where we see them facing what the commander-in-ch ief is describing is the most powerful offensive from russia yet. they are losing territory on the eastern front and facing an exponential increase in aerial attacks, affecting their city. going into winter now with severe energy crisis, facing blackouts. i think this is an existential moment. they are concerned. you can see

president zelinski humming out with his charm, trying to appeal to president trump, they are still hopeful that perhaps a new approach might at least be something to sort of grip onto in this moment. >> we will be watching it, clare sebastian and london this morning, thank you. in israel, benjamin netanyahu is calling trump's win a huge victory. according to the prime minister's office, he was among the first to call and congratulate trump. the office income of the two agreed to work together for israel's security. netanyahu posting on social media, this offers a new beginning for america and a powerful recommitment to their alliance. elsewhere, however, trump's victory is sparking concern and even dread. paula hancocks follows these developments from abu dhabi and joins us now. talk to us about the support and frankly, the enthusiasm from benjamin netanyahu, not surprising at all . when we talk about the concern and the dread, what does that look like? >> erica, there was certainly

one man in the region that was delighted with the results . it was the results he was hoping for. as you have said, the israeli prime minister benjamin young yahoo netanyahu calling it history's greatest comeback. of course, on the other side of that, you have palestinian that this could not bode well for them. both sides are looking at the example , the precedents of trump's first term. during the term , we saw the former president accept and recognize jerusalem as the capital of israel. now, that was something which everybody was expecting to be discussed between the israelis and palestinians in a final peace deal. he also recognized the 70 of israel over the golan heights. this is a territory in which israel had taken from serial syria during the 1967 war. we are hearing from the palestinian side, concerns about what else could be given

to israel when it comes to the next term , beginning next year. when it comes to the gaza war, for example, it is not as i quickly or how former president donald trump will deal with that. he has not been clear as to how he would approach that conflict. he did say back in april to israel, that it does need to finish what they started, get it over with fast, and they are losing the pr work. but he has not given details on how exactly he would end that conflict. the same when it comes to israel and lebanon, with hezbollah there. i think there is an expectation that the israeli prime minister , certainly, with his gushing congratulations to president-elect trump , will be feeling that over the next couple of months, he does have free reign, and he will be able to continue the way he wants to when it comes to data, when it

comes as well to israel , excuse me, when it comes to lebanon. the one country that is saying, at least publicly, they are not concerned by this change in power, but potentially would be concerned is iran . we have heard the statements saying, there is no significant difference. the general policies of the u.s. and iran are unchanged. but we know that iran and israel is currently engaged in this very high-stakes -for-tat attacks with both countries are firing from their own territory, onto the enemy territory . so, for around, knowing that donald trump will be , and is expected to be, very full throated in his response , and his support for israel , that could very well be a concern into ron. erica. >> paula, appreciate it, thank you. donald trump's sweeping victory made the front page of

publications around the world. let's take a look at some of them for you. the headline in australia, reading, "here is donnie." the small print says, is a man guilty of three felonies, accused of racism, misogyny, and inciting a riot, but for the second time he will become president. in britain, what have they done again, uncertainty and fear, and were a is rocked by a staggering election result. and this headline, " it is this man's world." leaders in asia calling to congratulate donald trump, including , xi jinping , the chinese president, he says coming up both countries can quote, finally find a way to get along in the new era, the last time, course none trump was in power, he stepped tariffs on china during his final term and has been threatening more of the same. we are following all of the developments here from beijing. what is the sense there in china about what a second trump

administration means? >> erica, remember four years ago, xi jinping waited four weeks before he sent a message of congratulations to joe biden. this time around, as you mentioned , he picked up the phone rather quickly to offer donald trump not only congratulations, but what beijing's usual platitudes, emphasizing the importance of neutral respect and win-win cooperation in this relationship. the timing of the phone call, perhaps in indication that chinese officials have learned something from trump's first term in office in terms of how he operates and what matters to him, because trump and his advisers reportedly have been tracking closely when and how leaders will reach out to him. for a lot of chinese officials, according to our sources, they are very much haunted by the wild swings of trump's china policy during his first term in office and the resulting nightmares, they had to live through. understandably, many of them are still dreading the prospect of having to deal with

this all over again. as of now, trump going back to the white house seemed to be the only certainty in this picture full of uncertainties when it comes to this critically important relationship between two superpowers between the world's two biggest economies. as you can imagine, topping the minds of officials and the public as well is a potential conflict mentioned because trump's campaign rhetoric of slapping new, even bigger 60% tariffs on chinese imports. we have no way of knowing whether or not he will make good on this promise, but the chinese are taking him very seriously, given his track record. the warning here, according to some analysts, there is a sense in basing this time around that you are not going to take this lying down, even with a sluggish economy at home. they feel they have tolls and measures in their toolbox to fight back . that prospect obviously could be very devastating for both economies and the world at large. on the

other side of the coin, no, trump's perceived transactional nature, and this america first foreign policy is still seem to be benefiting china strategically on issues ranging from taiwan to the south china see, compared to the biden and harris administration's strategy of forming a united front with allies and partners to target china on multiple fronts. >> a lot of questions this morning that is for sure. stephen invasion, appreciate it, thank you. will to come this hour, what donald trump has planned for day one in office as he focuses on his second term agenda . republicans believe they can secure the house and the senate. what do the numbers tell us? we will take a look.

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included, for only $15 a month. welcome back to "cnn newsroom" i'm erica hill in new york. vice president kamala harris says, she's committed to a peaceful transfer of power after conceding her election to donald trump. here is it something upon it refused to do after the 2020 election, she accepted the result. she said, she had spoken with donald trump and congratulate him on his victory. the president-elect meantime, celebrating his victory with supporters. >> we overcame obstacles that nobody thought possible. it is

clear that we have achieved the most incredible, political -- man, looked what happened! [ applause ] but it is a political victory that our country has never seen before , nothing like this. >> sources tell cnn, donald trump is focused not on his second term agenda. he could announce staff picks, we are told, within days. we are also told, he has . a raft of executive orders and efforts to reverse regulation for his first day in the white house. let's bring in more now on vice president kamala harris's concession speech. >> reporter: vice president kamala harris kamala harris delivering a concession speech a day after losing a landslide election to former president donald trump. after a day of phone calls , including speaking with mr. trump and president biden she delivered a speech at howard university, addressing her supporters. >> while i concede this

election, i do not concede the fact that fueled his campaign. the fight , the fight for freedom , for opportunity , for fairness , and the dignity of all people , a fight for the ideals at the heart of our nation, the ideas that reflect america at our best . that is a fight i will never give up. >> harris saying, it is a fight she will not give up. the question is, how she will proceed? she has 75 more days in the office of vice president. of course, that gives her time to really focus on her day job, as well as think about what is next. for all the recriminations that democrats will be doing for these election results, too

much focused on abortion rights, perhaps not enough focus on the actual economy . did president biden stay in the race too long? on thursday, president biden will address the nation in the rose garden, of course seeking to many of these. it was here to talk to young supporters and others about what they should do going forward. >> to the young people who are watching, it is okay to feel sad and disappointed, but please know , it is going to be okay. on the campaign, i would often say, when we fight, we win. but here's the thing, here is the thing, sometimes, if i take while. that doesn't mean we won't win. that doesn't mean we won't win. >> reporter: now, harris did pledge to help president-elect trump through his transition , saying, she and her supporters will ensure a peaceful transfer of power , of course, that did not happen four years ago. there is no doubt that the democratic party is in a soul-searching period. the question, what role does harris

have to play in that , those answers will come in the future weeks. cnn washington. donald trump has told supporters, he plans to govern by a simple motto , quote, promises made, promises kept. what are some of those promises made during the campaign? let's take a look at some of them now, including ones dealing with the war in ukraine before he has been sworn in. that is they were dying to be settled. i will get it settled even before becoming president. if i win, when i am president-elect, what i will do, i will speak to one , i will speak to the other. i will get them together. that war would have never happened. on day one of my administration, i will still the border, stop the invasion of people pouring through our border, and send joe biden's illegal aliens back home where they belong. >> now, the washington post is saying, you are talking about

60% tariffs on goods, is that in the cards? >> no, i would say, it will be more than that. >> for the second term, trump has vowed to carry out mass deportations, imposed across the board terrorists, assert control over the u.s. justice department, purge federal employees he deems as being disloyal , and has also said, he plans to reshape federal health agencies, cut climate regulations, as you heard, and the war in ukraine. he has also said, he will pardon the january 6th answers and overhaul what is known as title ix, a federal civil rights law that prevents discrimination based on gender and race. we spoke earlier with anderson cooper and they spoke about the status of transition planning and donald trump's agenda for his first days in office. >> we are excited to have so many people so may people excited to be a part of this administration and unifying the country. what you will see from this transition will be a unified front . president trump

and kamala here spoke earlier, a very gracious phone call the vice president gave. the president was very clear, he thought she ran a strong campaign and was very tenacious in the process. she also mentioned, she wants to work with the president to unify the country. i think the transition wants to display a unified front and the relationship he has with kamala harris and joe biden, we are looking to have a unified relationship in january. let's be clear, it is not a legal requirement for the campaign or transition to sign anything with the government. we are working to have corporation so that our people can be briefed properly with national security, background information, and so we can hit the ground running. it is not a legal requirement to sign a memorandum of understanding with the government to this transition . what we expect to see for the first 100 days is people focused on affordability. the american people want to do something with respect to affordability. they have suffered tremendously the policies of the previous administration. we will focus on that. we will also focus on securing the border. that is

very commonsense to the common people. once we understand how we move forward, we will move to the next layer. let's be clear to the american people, we will deport illegal aliens who broke our laws and have been violent to our people . >> when it comes to key senate races across the country, results are still coming in. cnn can project republicans will take the majority in the senate with at least 52 seats. they have been locked out of the majority since 2021. that accomplishment is not lost on mitch mcconnell who says, he always wanted to pass the majority on to his successor. >> quality is essential. absolutely essential. i think we have the best candidate everywhere. >> is for control of the house, that is still up in the air at this moment. speaker micah johnson insist, they do not believe they are in danger and believe they will hold onto the majority. important to note, it could be days, possibly weeks, before those final results are known .

donald trump is now the first convicted felon to be elected president of the united states. that is a tricky situation, not just for trump himself, also for the country. he is waiting sentencing in his new york has many case and is facing charges and trials and other federal and state cases. where do those charges stand? will they just go away? here is cnn's paula reid. >> i have learned that trump's legal team will try to get his upcoming sentencing in new york canceled. historically, they have tried to delay proceedings. now, they want this entire thing to the next. they will argue to the judge that trump, as president-elect, is entitled to the same protections as a sitting president and should be protected from any action by a state prosecutor. the judge in that case has given himself until november 12th to decide if the supreme court's immunity ruling from this summer should me that this entire conviction is tossed. if he decides it should be tossed, obviously, the sentencing would not happen. trump's lawyers again want to get that sentencing canceled. also good news on the federal front. the

two federal cases facing what we have learned that jack smith, the special counsel that brought both of those cases, is talking to leaders of the justice department, including the attorney general about how to wind down those cases and looking at internal justice department guidance about how sitting president cannot be prosecuted or indicted, trying to figure out how does that apply to president-elect. we suspect these conversations will go on for several days . at this point, it does not appear that the president would need to fire jack smith or have his justice department fire check jack smith, these cases would likely be resolved before he returns to the white house. paula reid, cnn, washington. still ahead here, donald trump's victory in tuesday's election made billionaire elon musk billions richer. plus, wall street celebrating a quick and indecisive outcome in the u.s. election. investors sending stocks to new, record highs. a closer look at the economics of a second trump era, next.

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mainly by the fact that the election was decided relatively quickly, as investors were hoping for some certainty, clarity there. the dow, s&p 500, and i think reaching uncertainty. the s&p up by 20%, and the tech heavy nasdaq closed and trading nearly 3% higher . that record date on wall street comes despite warnings from a number of economists that many of donald trump's policies could increase inflation, and america's budget deficit . how could the economy change , what might it look like once trump is in fact back in the white house? let's think about what the things are that he has promised to do. the president-elect says, he will impose a tariff on all goods coming into the u.s., as well as deeper imports coming specifically from china and mexico. economists say, measures like that though, would likely raise prices for the average american as they are passed on. here is cnn's monastic age. >> reporter: imagine every thing you buy that comes from

outside the u.s. like wine, cheese, and laptops it more expensive . that is what economists say, would happen under former president trump's terrace proposal. a terrace is basically a tax on products and trump wants to put them on everything that comes into the u.s. that is $3 trillion worth of goods a year. in order to cover the higher tariffs, companies will have to raise rises. that cost ultimately gets passed to you, the consumer . here is his plan, a 60% tariff on chinese imports, and up to 20% on imports from other countries. trump says, it will protect working-class jobs and punish countries making goods with cheap labor and unsafe conditions , the self-proclaimed terrace man is hoping the terrace will incentivize americans to buy more made in america products . in the terrace could in theory raise trillions of dollars to help fund tax cuts. economists at coleman sex worn, the terrace could backfire and say, this could kill jobs, and set off another trade war.

countries could then retaliate, putting their own tariffs on u.s. goods they buy. the cost of the american family by estimate, more than $2600 per year. >> thank you for that. joining us from los angeles, ryan patel, senior at the school of management. thanks for joining us this morning, ryan. there has been a lot made by these terrorists, because these were such a big part of donald trump's push on the campaign trail. walk us through, $2600 a year as we heard from vanessa that is a lot, especially for many americans already struggling with higher costs . what you see happening? >> i think in the short term, it will help a little bit for the consumer, but at the long-term , it is going to be the price index -- sorry, i got some feedback . i think, one of

the things when it comes to tariffs that people don't see that companies will pass down to the consumer, for sure. >> in terms of passing it down to the consumer that we know, for the majority of voters, the economy was one of their top issues. that was consistent what we heard over the span of months. the data may be pretty positive right now in the country, but we know people don't feel it. donald trump has also said, he will lower prices. what could he do in his first 100 days in office to make that happen? >> in the short term, he has got to be able to have the ability to have quick wins. he must do that. his team, when it comes to the job market being strong, but really , with the tariffs and what you were saying that the intention is to increase it, but the job creation may not keep up. the high u.s. labor on the production will discourage some companies from moving manufacturing plants to the u.s. and be able to do those . at the end of the day, he is not getting there quick enough

for people to really feel the difference to be able to do that. and if you are doing tax cuts on top of that, there will be a deficit issue in which he has to have a balance. his plan and policy is something that could build on the economy, but really needs to have a really strong balance . >> you bring up a good point about the push for some of these terrorists, to bring manufacturing in some ways and products back into the u.s. it is not only doing it for those jobs, it is the infrastructure as well. how much of that infrastructure is actually in place at this point? >> it is just starting . you think a couple of years ago, we were pushing semi conductors to build plants in the u.s., and there's a big one in arizona, just starting to wear other places, other countries, china is an example where manufacturing has been there and also, the inflation aspect to it too. when you put these tariffs on other countries, 20% in other places, other banks are looking at the fed going, what are you doing? are we

going to increase our -- i expect next month we will see what five basis points . in the next couple of months, they will see , if the fed does not do more decreases, we can see the dollar becoming more expensive for others to use. >> speaking of the fed we are expecting a decision at 2:00 p.m. eastern time here in the united states. the fed is always supposed to remain neutral . donald trump has said, he would like to have a little more involvement in decisions at the fed as president. what are you expecting today, though? the expectation was, we would see another rate cut , do you think the election figures in here? >> i hope not. it is supposed to be separate . i believe there will be a decrease behind it. i think we saw it, the bank of england was signaling that too. let me be clear, no president should be affecting the fed or the fed has taken this long to get to this point, where i think they will be decreasing this time next year.

so, i am hoping that the numbers and the data continues to do what it has. it has been a long road to get here for the economy to have interest rates to start decrease . that is what the economy needs. i hope there is no interaction next year, or influenced that needs to be had that gets into the way to decreasing these interest rates next year. >> as i noted before coming to you, wednesday was a strong day for the markets a lot of excitement in the united states when they saw that. and a lot of that coming from, almost as a sigh of relief, over the fact that there was a decisive and quick decision in this election . what you just expect to see it moving forward with the markets as this settles in? >> i think you know the answer to it when you asked me this. the markets like certainty, and that was one. with president-elect trump going into -- we have been his first presidency, there's a lot of uncertainty when it comes to

tensions between different countries . i think companies and countries, the biggest question for me , in the short term, the first 90 to 100 days, can president trump be really clear about his policy and what he is doing with certain countries, certain sectors, and companies can plan and use their investment wisely . i think to me, the market will not react well if it is not clear and it becomes an everyday where we are at, where we stand. i'm hoping he has got a little of a different strategy going into the second term of his . >> ryan , good to see you this morning, thank you. billionaire businessman elon musk donated more than $100 million to support donald trump's campaign . that investment seems to be paying off. for musk, on wednesday the value of his shares in his vehicle electric company tesla, went up $100 billion. >> elon musk is $15 billion

richer, thanks to a presidential victory by donald trump. >> i love elon , by the way. >> reporter: musk, who contributed $119 million in support to trump's campaign is seeing big returns in the market. >> do you like winning? >> yeah. >> shares of tesla surged on trump's win, and musk owns 411 million of those shares. how much is $15 billion? for starters, musk could give every person in the entire world a dollar and still have more money left over nba legend michael jordan's entire net worth. think tesla cybertruck's are expensive? for $15 billion, musk could buy around 182,000 cybertruck's. if he decided he wanted to make sports his next venture, he could buy the most valuable sports franchise, the dallas cowboys, estimated to be worth over $10 billion. what does this $15 billion really mean to the world's richest man? in

2021, musk said, he paid more than $11 billion in taxes alone. >> that was demetrius simpkins reporting . before we go, our affiliate in hartford, connecticut asked voters their thoughts on trump's staggering victory. it was won by kamala harris. here is some of what they told us. >> i believe he was really backing our country and really for our constitution. so, i am really hoping he can rein himself in a little bit and continue doing the work he was doing . >> i am surprised that he won . i certainly did not expect it to be such large margins . it is really shocking and kind of disappointing in terms of how i feel about humanity as a whole now. >> i am pretty sure that trump has shown us and told us who he is. i am scared for what that means for us as women, and also as a country .

>> i have just been praying really hard . if it didn't, i was prepared to accept whatever was going to be. and i hope everybody else feels the same way. >> very, very proud , even in the city with west hartford nominally democratic to me but that is okay. they will catch up someday. >> a sad state of affairs in our country right now, how divided we all are, how we can't seem to come together on anything, how we put our pocketbooks above people's lives, above women's rights , above the lgbtq rights . it is a sad state of affairs . >> some thoughts from voters there in connecticut . things to all of you for joining me on "cnn newsroom. plus i erica hill in new york. stay tuned, cnn picks up after a quick break.

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