Former President Donald Trump has announced Senator JD Vance (R-Oh.) as his vice presidential running mate. 22V Research senior managing director Kim Wallace joins Catalysts to analyze Trump's VP pick and its ripple effects on Trump's campaign.

Wallace suggests that choosing Vance will effectively eliminate any opportunity for traditional conservative Republicans to carve out a space for themselves if this ticket succeeds. "It signals consolidation of MAGA power within the GOP," Wallace observes. He notes that while this VP pick does heighten competition in the national race, the "preponderance of public sentiment" suggests it may not be "competitive with President Biden at the top of the Democratic ticket."

Addressing the support of billionaire voters like Elon Musk for Trump, Wallace contends this is not a new phenomenon where voters financially back their preferred candidates.

"There are many avenues for money to find its way into US politics," Wallace tells Yahoo Finance. Though he adds: "The question is, in my view, 'does it sway the policy agendas favored by the billionaire?'"

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This post was written by Angel Smith