Economic impact: President-elect Donald Trump’s main economic tools look to be the same as in that first term: tariffs and tax cuts. But there’s a difference this second term. The tariffs he’s now planning will be broader and higher, and the tax cuts more narrowly targeted. The consensus of economists and investors is that tariffs will put upward pressure on inflation while tax cuts could spur growth and add to deficits, together tending to nudge interest rates higher. Read more from The Wall Street Journal.  Doing the deal? Donald Trump’s return to the White House is expected to aid Capital One Financial Corp.’s goal to take over Discover Financial Services, one of the biggest mergers announced this year. The president is expected to bode well for the $35 billion deal that would create the biggest credit-card issuer in the U.S. by loan volume. The tie-up is pending approval from the Federal Reserve and the Office of the Comptroller of the Currency. The US Justice Department could then sue to block it. The deal is scheduled to be completed early next year. Read more from Bloomberg. A subscription may be required.  Local insights: Local journalist and host of “Talk Louisiana” Jim Engster will serve as the guest speaker at the Rotary Club of Baton Rouge on Wednesday. He is expected to give insights on the recent presidential, congressional and local elections. The Rotary Club meets at noon each Wednesday at Drusilla Seafood.