Wall Street Braces for C.E.O. Trump

donald trump
These shakedowns have become an increasingly popular discussion topic among senior leaders in the finance crowd—belatedly worried that Trump, emboldened by his previous successes, is coming for the big Wall Street banks next. Photo: Andrew Harnik/Getty Images
William D. Cohan
August 13, 2025

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Has Donald Trump effectively become the C.E.O.-in-chief, in addition to commander-in-chief and president of the United States? To the annoyance of a lot of people on Wall Street, it’s starting to look that way, as the litany of convention-defying examples of overreach become de rigueur—from seemingly petty demonstrations of power, like excommunicating the Kennedy Center’s non-ideologically compliant board members and accepting a 747 from Qatar, despite laws designed to prevent that kind of thing, to more substantive power plays, such as relentlessly pushing for the removal of Fed chairman Jay Powell.