Morning Money

Welcome to Trump 2.0 Presented by Editor’s note: Morning Money is a free version of POLITICO Pro Financial Services morning newsletter, which is delivered to our subscribers each morning at 5:15 a.m. The former Allstate insurance agent would be a critical partner for Trump if he wins the presidency, helping guide Senate confirmation of key administration personnel and advancing priorities like looser cryptocurrency rules.” — More from Eleanor on what Brown’s ouster means for Senate Banking Dems: The Ohioan’s defeat sets up “a potential clash between moderates and progressives over who emerges as the panel’s top Democrat.” With Sen. Jack Reed of Rhode Island expected to remain in the top slot at Senate Armed Services, there could be a brawl between Sens. One lobbyist said Warren is ‘absolutely terrifying to industry.’” Crypto — From Jasper Goodman: One big winner Tuesday: the crypto industry. Larry Fink’s thoughts — The U.S. cannot cut or tax its way out of its growing debt problem, BlackRock CEO Larry Fink wrote in an op-ed for The Wall Street Journal. “Whoever wins on Nov. 5, tax increases and spending cuts alone won’t be enough to stop the debt from expanding,” he wrote, adding that the only way out is to invest: “If GDP rises at an average of 3% in real terms over the next five years, the country’s debt-to-GDP ratio would stay roughly stable at a high, but reasonable, level.” Jamie Dimon’s thoughts — Late Tuesday afternoon, the JPMorgan Chase CEO released a statement urging the public to “respect and uphold our democratic process.” “Our country is now concluding one of the hardest fought and at times divisive elections in our recent history.