Balance of Power

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Texas Governor Greg Abbott is planning to skip a political rally in San Antonio headlined by President Donald Trump, declining a chance to appear with the country’s highest-profile Republican as his reelection bid faces a surprisingly strong challenge from Democrat Gina Hinojosa. Abbott, a longtime Trump ally and GOP stalwart, will instead hold campaign events in Jasper, a city of about 7,500 near the Louisiana border, and College Station, where he will appear at a barbecue described by its organizers as having a maximum capacity of 250. The barbecue will start around the same time as the Trump rally. “I already have events scheduled that day and will not be able to make it,” Abbott told reporters Monday. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Republicans are bolstering US Senator Darline Graham’s campaign for a full term amid increasing concern that the race in South Carolina, traditionally a conservative stronghold, is tightening ahead of the Nov. 3 election. Some in the party are worried that the state of the contest, for a seat that her late brother Lindsey Graham held for more than two decades, is in jeopardy, according to people familiar with the situation. The Senate Leadership Fund, a Republican super PAC, is shifting $5 million to the race to support Graham, according to another person familiar with the matter. Two people who asked not to be identified downplayed the move — reported earlier by Axios — as more of a precautionary measure, meant to ensure Republicans are not taking South Carolina for granted. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest…

A look at the final actions of the Senate -- including releasing a bipartisan energy permitting bill -- as well as looking at regulatory rulemakings geared towards enhancing institutional adoption of the crypto sector led Bloomberg Intelligence's Washington Policy Pulse on Oct. 5. The energy bill aims to speed up permitting reviews for new infrastructure projects, including making data centers pay for their transmission costs, will likely see a vote in the forthcoming lame-duck period in November. We also looked at the SEC's most recent proposals related to accredited investor and crypto custody and how the SEC plans to finalize them in 2027. The accredited investor proposal probably won't lead to a material increase in new growth for alternative asset managers. Finally, we previewed a Trump action on farm aid, which we think will be tied to cutting diesel costs. Yet we caution most federal actions over lowering the price of diesel are limited in scope. The Bloomberg Intelligence Financial Policy weekly call…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump is preparing to ease limits restricting the use of a tax-exempt variety of diesel, his latest bid to pare costs for the essential fuel ahead of the November midterm elections. The Trump administration is expected to unveil the plan targeting so-called red dyed diesel on Monday, according to people familiar with the matter, who asked not to be named before a public announcement. The plan effectively would allow more widespread use of red or dyed diesel, which is generally available for off-road purposes, such as in farm and construction equipment. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Bloomberg Washington…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump predicted that Democrats would impeach him for a third time if they retake control of Congress, seeking to boost voter enthusiasm for Republican candidates amid broad public dissatisfaction with his leadership. Trump spoke Thursday during a campaign swing through Texas and Oklahoma, states which he carried handily in his three presidential campaigns but are now home to competitive Senate and gubernatorial races, highlighting the GOP’s peril in the November midterm elections. The president plans to hold a rally Friday in Alabama, another deep-red state. “Pretend I’m running, please, because I am on the ballot. And if we don’t win, they’ll end up impeaching me,” the president said during a rally in the Oklahoma city of Durant. “They’re going to ruin our nation if they’re allowed to get back into office.” Bloomberg Washington Correspondents Joe Mathieu and Kailey…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Donald Trump is embarking on a travel blitz aimed at shoring up struggling Republicans in states he won two years ago, as the president’s mood darkens about his party’s prospects in the November midterm elections. In the coming days, Trump plans to appear in Texas, Oklahoma, Ohio and Nebraska, GOP strongholds where a visit could deliver a jolt of energy to his base. But the choice of destinations points to a cold reality for Trump: a presidential appearance on behalf of office-seekers in competitive states might hurt more than it helps. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Bloomberg Washington Correspondent Tyler Kendall. Bloomberg…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. The Federal Reserve’s internal watchdog found no evidence of criminal wrongdoing in the central bank’s renovation of its Washington headquarters, a $2.4 billion project that became a flashpoint between the Fed and the Trump administration as the president pushed for lower interest rates last year. The findings came in a report released Wednesday by the Office of Inspector General that identified a series of missteps that led to surging costs for the renovation from an initially budgeted $1.3 billion in 2020. “At no point during our evaluation did we find reasonable grounds to believe that a violation of federal criminal law had occurred requiring a referral to the US Attorney General in accordance with the Inspector General Act,” the OIG said. “Further, while our report outlines deficiencies in the management of the renovation project, resulting in our recommended corrective actions…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump shot down the idea of new federal regulations on artificial intelligence after meeting at the White House with top industry executives amid growing global concerns over threats posed by the technology. Speaking Tuesday after a luncheon with nearly two dozen Silicon Valley leaders, including Anthropic PBC Chief Executive Officer Dario Amodei and Nvidia Corp. CEO Jensen Huang, Trump said existing laws would be enough to safeguard Americans from AI’s potential risks. “There’s a belief that there should be tremendous self-regulation, and we automatically have regulation with the Department of Justice, the FBI, all of that, but the self-regulation is very important,” the president told reporters in a brief appearance with his guests. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Global anxiety over artificial intelligence risks has intensified following fresh disclosures about a far wider range of breaches by advanced AI models, setting the stage for a high-stakes meeting between Anthropic PBC Chief Executive Officer Dario Amodei and President Donald Trump. Amodei and Trump met on Sunday night, according to a White House official, bringing together two men at opposite ends of the AI safety debate. The meeting marked their first private sit-down after months of rocky relations between the Anthropic chief and the administration over safety-related issues involving the company’s AI tools. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump said he would meet again with Chinese leader Xi Jinping in November, following what he said was a successful summit in Washington. “We will be meeting again in November, in China, and then at the G20 in December, in Miami, Florida. Much has been, and will be, accomplished,” Trump said in a social media post Friday. Trump’s comments followed a summit in Washington with Xi that was seemingly light on concrete policy outcomes. Earlier Friday, US Trade Representative Jamieson Greer said the US would announce agreements with China on trade in non-sensitive goods, which could be made public as soon as Monday. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Donald Trump and Xi Jinping addressed their intense competition over artificial intelligence on Thursday during a summit aimed at keeping ties between the world’s largest economies on track. How the leaders are handling AI is one of the key questions looming over the state visit, with the US president arguing for unfettered development to keep his nation’s edge. China, meanwhile, has criticized American export controls on semiconductors and other inputs that it argues constrains its companies. Trump said the two men would discuss issues related to security, technology and AI. “If we focus on our common interests, I’m confident there is much we can achieve throughout history,” he said during remarks in the Grand Foyer of the White House. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Xi Jinping and Donald Trump will sit down this week to hash out a plethora of thorny issues from trade to Taiwan. One thing both sides agree on: neither can afford to tap the brakes on AI. While Silicon Valley debates the possibility of artificial intelligence wiping out humanity, Washington and Beijing appear more worried about global technological supremacy. The two countries have signaled no intention to slow down AI development — a debate that flared anew after Anthropic PBC co-founder Dario Amodei warned of the dangers of unbridled progress in a 3,800-word communique. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Senator Mark Kelly…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump said US officials had a “very good” meeting with Iranian envoys in New York, reviving fragile hopes for a new diplomatic off-ramp hours after he again threatened to annihilate the country. Trump said the three-hour meeting — held on the sidelines of the UN General Assembly meeting — was “very productive” and that another was being planned for the near future. Iran has yet to comment on the meeting or say who attended. Trump later said his special envoys Steve Witkoff and Jared Kushner had participated in the meeting. The pair had led negotiations with Iran that preceded the US and Israeli military campaign that began in late February and has roiled the Middle East, as well as global energy markets. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill,…

A preview of the meeting between President Donald Trump and Chinese President Xi Jinping led Bloomberg Intelligence's Washington Policy Pulse for Sept. 21. Topics that could be discussed at the summit include artificial intelligence regulations, tariffs, the conflict with Iran and the likelihood of Chinese automobiles in the the US market. We also discussed the future of AI regulations in the US, where legislation and regulatory views seem to differ, allowing states to take their place. We also reviewed a speech from the Fed Vice Chair for Supervision on the future of rulemakings related for stress testing and bank capital. The Bloomberg Intelligence Financial Policy weekly call is designed to provide investors an opportunity to learn about the most recent relevant policy research, information regarding forthcoming political catalysts and other on-goings within Washington DC. The call is open to all and is held every Monday at 10:00 a.m. EST. You can register for the call here:…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. US and Chinese officials offered upbeat assessments of their talks on artificial intelligence, trade and investment, signaling a mutual desire to steady ties ahead of this week’s summit between leaders Donald Trump and Xi Jinping. China’s top trade negotiator, Li Chenggang, said the talks were held in a “good atmosphere” as he left JPMorgan Chase & Co.’s headquarters in New York on Sunday, while US Treasury Secretary Scott Bessent lauded “very successful” discussions. China’s official Xinhua News Agency called the exchange “candid, in-depth and constructive.” Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Bloomberg Washington Correspondent…

Insight & analysis on the White House and Capitol Hill Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. California Gov. Gavin Newsom said artificial intelligence systems will face a slew of new safety and security standards as he pushes for leading companies to develop an AI “kill switch.” Newsom cited recent incidents at major AI labs OpenAI and Anthropic that have led researchers to sound alarms on the potential catastrophic consequences of the unchecked development of the technology. Newsom, a likely presidential contender for 2028, particularly blamed Congress and President Donald Trump for inaction on the issue. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Bloomberg Washington Correspondent Tyler Kendall. Emerald AI CEO Varun Sivaram.…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump visited North Carolina in his first campaign stop since the GOP’s Dallas midterm convention, seeking to boost Republican Senate candidate Michael Whatley, who is trailing Democrat Roy Cooper in the polls. The race in North Carolina could be critical to determining which party controls the Senate, and the president’s rally at an airfield in Gastonia, outside Charlotte, offered a sign of the deep concern within GOP ranks over their prospects for holding onto the chamber. “A vote for Roy Cooper is a vote to give control of the US Senate,” Trump said Wednesday, casting the race as having stakes far beyond the state. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. US midterm elections were already shaping up to be a key risk for AI-related stocks amid a backlash against data centers. But with a growing number of lawmakers from both parties sounding the alarm on the need for AI safety regulations, the stakes have only gotten higher. Optimism about AI has powered the stock-market rally for the better part of four years amid soaring spending on computing infrastructure. That trade, however, is on shaky ground after Anthropic PBC and OpenAI both pledged to slow development of their most advanced models following a series of warnings from within the industry about its ability to control the technology. The Philadelphia Stock Exchange Semiconductor Index, better known as the SOX, tumbled nearly 6% on Monday, its worst day in more than two months. Former President Barack Obama called for AI policy to be “at the center of our public debate,” in a…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump’s opposition to guardrails on artificial intelligence puts him at odds with a growing number of lawmakers from both parties, with AI safety fears adding to voters’ misgivings about the technology heading into the midterm elections. In a rapid-fire series of social media posts, Trump on Monday belittled a push led by Anthropic PBC and OpenAI to slow work on cutting-edge systems, invoking bombastic language to dismiss existential fears about AI as “a hoax.” Later in the day, he made an impromptu call to Nvidia Corp. Chief Executive Officer Jensen Huang, who was onstage at a technology conference and put their conversation on speakerphone. “The robots will not be taking over. AI will not be taking over the rest of the world,” Trump told Huang, who was a featured guest at the All-In summit in Los Angeles. “We have to do things, and we have to do them prudently, but…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump attacked Anthropic PBC Chief Executive Officer Dario Amodei for urging a slowdown in artificial intelligence development, intensifying his opposition to new guardrails for the technology. In a Monday social media post, Trump blamed a “SICK conspiracy” for voter backlash on AI data centers and increased concern about frontier models, adding that “the only one that is happy about it is China.” “The only control or ‘guardrails’ that AI needs is a STRONG AND SMART (High IQ!) PRESIDENT, and the U.S.A. has that, in spades!” Trump posted. “We are leading China, and all others, and will continue to do so. Conspiracy Theorists, Treasonists, Traitors, and Leakers, BEWARE!” Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential…

Bloomberg News' Ottawa Bureau Chief Brian Platt sits down with Canadian Prime Minister Mark Carney ahead of the country's first national investment summit in Toronto. Carney says he thinks it’s still possible for the US and Canada to reach a “mutually advantageous” deal that would reduce trade barriers. He notes that Canada is "ready to sit down and negotiate that and move it forward". Carney adds that he welcomed President Trump’s comments over the weekend that he believed the countries could reach an agreement fairly soon. He also discusses the need to strengthen AI guardrails and more. See omnystudio.com/listener for privacy information.

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Anthropic says its artificial intelligence model Claude has been misused in attempts to develop a wide range of military applications, including kamikaze drone swarms, missile navigation systems and research tied to potential biological weapons.Users from countries including Iran, Russia, China and Yemen are among those flagged for misusing the AI company’s frontier models in the past year, according to a report by Anthropic’s threat intelligence team on Thursday. None of the cases involved Anthropic’s most advanced models, Fable and Mythos. Guest hosts Christina Ruffini and David Gura deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, David and Christina speak with: Mike Shepard, Bloomberg Senior Editor for Technology and Strategic…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this special edition of Balance of Power, Kailey Leinz hosts from our Dallas bureau to speak with several key figures in Texas for the first of its kind midterm convention for the Republican party, headlined by two primetime speeches from President Donald Trump. During his speech on opening night, President Donald Trump floated a dividend for American voters if his party wins the upcoming November midterm elections, promising a $5,000 payment to each US citizen adult if Republicans keep control of the House and Senate. On this edition, Kailey speaks with: Josh Wingrove, Bloomberg News Senior White House Reporter and Washington…

US Agriculture Secretary Brooke Rollins says she is not running for Texas governor or a Senate seat for now. “That is a ‘no’ right now for sure,” Rollins said while speaking to Bloomberg Television from the Republican midterm convention in Dallas. She is attending the event in her personal capacity. See omnystudio.com/listener for privacy information.

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this special edition of Balance of Power, Kailey Leinz hosts from our Dallas bureau to speak with several key figures in Texas for the first of its kind midterm convention for the Republican party, headlined by two primetime speeches from President Donald Trump. Kailey speaks with: Brooke Rollins, US Secretary of Agriculture Ray Washburne, Co-Chair of the RNC Midterm Convention along with Bloomberg Texas bureau chief Julie Fine Wendy Davis, former Texas state senator (D) and 2014 Texas Democratic gubernatorial nominee along with Bloomberg Texas bureau chief Julie Fine Matt Angle, Founder/Director of the Lone Star Project and Democratic…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Bloomberg White House Correspondent Kate Sullivan. Atlantic Council Senior Fellow Melinda Haring. Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and Echo Canyon Consulting CEO Jon Seaton. Bloomberg Texas Bureau Chief Julie Fine. Democratic US Senate Candidate for Michigan Abdul El-Sayed. See omnystudio.com/listener for privacy information.

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. US job growth surged in August and the unemployment rate held steady, suggesting the labor market has more momentum than previously thought. Nonfarm payrolls increased 162,000 last month and July’s job losses were revised away, according to Bureau of Labor Statistics data out Friday. The August increase topped all estimates in a Bloomberg survey. The unemployment rate remained at 4.1%. The report indicates the labor market is powering through uncertainty from the Iran war and pressure from inflation. Federal Reserve officials will likely read it as bolstering the argument for raising interest rates, though next week’s consumer price data will prove key to the central bank’s decision later this month. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. The US and Iran have intensified tit-for-tat military strikes in recent days, remaining locked between ceasefire and all-out war as the White House struggles to end the six-month conflict. “Very clearly militarily, we are stalled,” Republican Representative Pat Harrigan of North Carolina, who sits on the House Armed Services Committee, said in an interview on Wednesday. “There’s no question about that.” The latest back and forth has seen Iran hit merchant vessels, spurring the US to strike Islamic Revolutionary Guard Corps sites that were used for targeting ships in the Strait of Hormuz. That led to Iran firing missiles and drones on US bases in the region, including in Jordan, Kuwait and Bahrain. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Bloomberg White House Correspondent Skylar Woodhouse. Republican Congressman Jodey Arrington of Texas, Chairman of the House Budget Committee. US Commerce Secretary Howard Lutnick. Bloomberg Economics Economic Statecraft Lead Chris Kennedy. See omnystudio.com/listener for privacy information.

US Commerce Secretary Howard Lutnick lauds the benefits of artificial intelligence. Speaking with Bloomberg Balance of Power co-host Joe Mathieu at the G20 Innovation Ministerial in Chapel Hill, North Carolina, Lutnick also says Anthropic has settled differences with the Trump administration and discusses the state of US-Canada trade negotiations. Listen to the full conversation, as heard live on Bloomberg TV and Radio. See omnystudio.com/listener for privacy information.

US Energy Secretary Chris Wright discusses details of Venezuelan oil production and exports, deals signed with Chevron, ENI, and GE Vernova, and offers an update on the Strait of Hormuz. He speaks with Tyler Kendall in Caracas, Venezuela. See omnystudio.com/listener for privacy information.

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. The US launched a fresh wave of strikes against targets in Iran and the Islamic Republic said it retaliated, as the back-and-forth of fighting between the two escalated. President Donald Trump said the US strikes were in retaliation for Iran trying to put mines in the Strait of Hormuz and for an earlier attack on a military base in Jordan. He warned of more attacks to come if Tehran responded. Within hours, Iran said its forces had launched a “decisive operation” against US bases in the region, the semi-official Tasnim news agency reported. The Islamic Revolutionary Guard Corps said the new fighting “only tightened the lock on the Strait of Hormuz,” IRIB reported. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures…

With the House of Representatives returning to Washington after August recess, the likelihood of a government shutdown -- only 20% in our view -- led Bloomberg Intelligence's Aug. 31 Washington Policy Pulse. The House will most likely embrace a Senate deal that extends the government funding until Dec. 11 before leaving town to further campaign ahead of the midterm elections. A potential vote on a separate measure on a Russian sanctions package will likely be pushed back until after the election. We also discussed President Donald Trump's announcement of a deal in Venezuela to have the US take a stake in Venezuela's oil fields. Analysis from BI's energy team suggest that while Chevron may embrace the deal, ConocoPhillips and ExxonMobil may be more hesitant. We also previewed a forthcoming meeting with energy executives at the White House on Sept. 2. The Bloomberg Intelligence Financial Policy weekly call is designed to provide investors an opportunity to learn about the most recent relevant policy research,…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. House members return to Capitol Hill after a monthlong break with a crowded docket and just 16 days in session to complete it before the November midterm elections. A planned vote to avoid a fall government shutdown is atop their to-do list, and continued GOP hopes of a third party-line budget package loom over other legislative priorities lawmakers want to pass and campaign on in their districts. House leaders have to contend with delays in progress due to the Senate being in recess until Sept. 14 and several high-profile legislative packages involving cryptocurrency and college sports stalled in that chamber. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Federal Reserve Chairman Kevin Warsh warned inflation isn’t meaningfully slowing and said policymakers must be confident that it is, otherwise the central bank has “work to do.” In a sweeping speech, his first since becoming chairman of the central bank in May, Warsh reiterated that policymakers will return inflation to their 2% goal, which he said is a firm and fixed target. “Here is my standard: We must be confident that underlying inflation is moving to our objective, clearly and at sufficient speed. Otherwise, we have work to do. That’s our job,” Warsh said at the Fed’s annual conference in Jackson Hole, Wyoming, on Friday. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump announced he was moving to rename Lake Ontario as Lake America, escalating his clash with Canada after trade negotiations between the two nations collapsed. Trump on Thursday signed a directive changing the name of the lake and said the move would take place “effective immediately.” The president previewed the move in a social media post earlier this week. The order signed by Trump said the Interior Department had 30 days to change the name in federal databases and materials. “Canada has been ripping us off for a long time on trade,” Trump told reporters when asked what message he was sending to the US’s northern neighbor. “They want to be treated like they’re a state, and so we just can’t do that anymore.” Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill,…

Utah Governor Spencer Cox discusses Meta’s settlement, arguing the amount should have been much higher, yet argues the more consequential result is the equitable relief requiring child accounts, age-gating, parental controls, algorithm changes, overnight restrictions and healthy pauses. Cox thinks Meta buried research showing significant harms to young users and says Utah will use the money to mitigate those harms, help struggling children, and create more opportunities for them in the real world. Cox spoke with Bloomberg's Joe Mathieu and Tyler Kendall. See omnystudio.com/listener for privacy information.

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump’s latest trade upheaval is threatening to deepen Republicans’ peril in November’s midterm elections, saddling Senate GOP candidates with another economic headache as the party fights to hold onto its majority. In recent days, Trump has announced plans for tariff relief on some ground beef imports, enraging cattle producers in states such as Iowa and Nebraska, and launched a new trade war with Canada, rattling manufacturers and businesses in border states including Maine, Michigan, Alaska and Ohio. Those states are all Senate battlegrounds crucial to Democrats’ strategy to retake the chamber. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition,…

Ontario Premier Doug Ford said his war of words with President Donald Trump got a little heated, but he had to "hit back." Ford says the US and Canada need a fair trade deal, but he says no deal is better than a bad deal. Ford speaks to Joe Mathieu on "Balance of Power." See omnystudio.com/listener for privacy information.

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Prime Minister Mark Carney matched the new tariffs imposed by President Donald Trump and announced new support programs for Canadian businesses hurt by the escalating trade war with the country’s largest trading partner. Canada will double its existing counter-tariffs on US steel and aluminum products to 50%. American-made milk, furniture, clothing and apparel will also have new 50% duties applied, as will video-game consoles, smartphones and other electronics. Overall, the retaliatory levies will affect $20 billion worth of annual US exports to Canada, roughly matching the dollar-value impact of the tariffs the White House put on Canadian products on Saturday. It’s equal to about 6% of US exports to Canada last year. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including…

With Congress still out and the week of Aug. 24 likely light on policy developments, the Bloomberg Intelligence's Aug. 24 Washington Policy Pulse call focused the US 50% additional tariff on roughly $20 billion of Canadian imports that took effect on Aug. 22 as well as Trump's Aug. 24 remarks that forthcoming tariffs were coming for the Canadian automotive industry. Canadian Prime Minster Mark Carney has vowed to respond with dollar-for-dollar retaliatory tariffs beginning Sept. 8, which could influence Senate races in Ohio, Maine and Alaska. Finally, we reviewed a White House meeting last week with executives from Coinbase, Intercontinental Exchange and Nasdaq and how it didn't do much to move the crypto bill known as the CLARTY Act forward. We continue to ascertain a 40% chance of passage in 2026. The Bloomberg Intelligence Financial Policy weekly call is designed to provide investors an opportunity to learn about the most recent relevant policy research, information regarding forthcoming political…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. Treasury Secretary Scott Bessent threatened economic punishment against any country doing business with Iran as part of what he called an “economic D-Day” campaign to isolate the country and end nearly six months of war.President Donald Trump is calling world leaders with “specific requests to cease their interactions with the regime” and countries will face a specific timeline to shut down links with Iran or face unilateral US punishment, Bessent told a press conference. On this edition, Joe and Kailey speak with: Tyler Kendall, Bloomberg Washington Correspondent Joe Lavorgna, Chief Economist of SMBC Americas/Former-Counselor to Secretary…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. US President Donald Trump and Canadian Prime Minister Mark Carney expressed optimism about finalizing a tariff agreement as negotiators from both countries met in Washington for further talks. Trump on Wednesday declared that “we’ve come to a deal with Canada,” saying that Canadian representatives “gave us the points we had to have” on issues including market access for US agricultural products. “It’s all subject to finalization of documents,” the president told reporters at the White House. Meanwhile, Carney posted that the two sides are “moving towards an agreement that reinforces that Canadian advantage” and secures “the best terms in each of Canada’s most important strategic sectors,” without elaborating on the specifics. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill,…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Total US public debt surpassed $40 trillion for the first time, and has now surged by a third in less than five years, as US lawmakers continue to shrug off calls to contend with historically wide fiscal deficits. Public debt outstanding stood at $40.05 trillion as of the close of business Tuesday, a Treasury Department release on Wednesday showed. The news came hours after Treasury Secretary Scott Bessent made a fresh attempt to rein in long-term borrowing costs from multi-year highs — a notable component of the growth in debt. The Treasury said it’s ramping up a buyback program for longer-dated securities, in an announcement that sent yields lower. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. US President Donald Trump and Canadian Prime Minister Mark Carney expressed optimism about finalizing a tariff agreement as negotiators from both countries met in Washington for further talks. Trump on Wednesday declared that “we’ve come to a deal with Canada,” saying that Canadian representatives “gave us the points we had to have” on issues including market access for US agricultural products. “It’s all subject to finalization of documents,” the president told reporters at the White House. Meanwhile, Carney posted that the two sides are “moving towards an agreement that reinforces that Canadian advantage” and secures “the best terms in each of Canada’s most important strategic sectors,” without elaborating on the specifics. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill,…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. US President Donald Trump insisted Tuesday that there were no talks ongoing with Iran, leaving the simmering conflict in the Middle East and control of the Strait of Hormuz stuck in limbo. “There are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran,” Trump posted on his social media platform. On Monday, after the memorandum of understanding that the US and Iran signed in June expired, the president said he would not extend it. The agreement had given the parties a 60-day window to negotiate a lasting peace deal. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Bloomberg Washington Correspondent Tyler Kendall.…

A preview of an upcoming meeting at the White House later this week featuring executives from Coinbase, Intercontinental Exchange, CME Group and Nasdaq -- and how it likely won't change much in terms of US crypto policy -- led Bloomberg Intelligence's Aug. 17 Washington Policy Pulse. The meeting -- ahead of a CFTC advisory committee featuring many of the same attendees instead will likely serve as a White House push to emphasize that regulatory clarity can still exist in absence of passage of congressional legislation, which we ascertain a 40% chance of passing in 2026. We also discussed a SEC request for comment on novel ETFs and how it may speed and slow down approval times for issuers launching new ETFs that involve complex products such as crypto and event-contracts. Finally, we looked at the current Kalshi prediction market odds for the midterm elections, which show that Democrats have a 85% chance of taking the House of Representatives. The Senate remains tighter with the GOP having a 51% chance of…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. The prospects for peace in the Middle East suffered a fresh setback, with President Donald Trump saying he’s not interested in extending the expiring agreement with Iran and fighting flaring anew in Lebanon. Asked whether he would seek an extension of the memorandum of understanding signed in June — which technically expires Monday — Trump told reporters, “No.” That truce was meant to give Washington and Tehran a window to reach a more lasting peace deal within 60 days. As the Iran war approaches the six-month mark and tensions over the re-opening of the Strait of Hormuz have sparked flare-ups in hostilities, both sides have said the agreement is defunct. Still, Trump insisted on Monday that the US had leverage over Iran, citing the naval blockade of Iranian ports. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines…

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with: Bloomberg Washington Correspondent Tyler Kendall. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. Gulf Oil Chief Energy Advisor Tom Kloza. Bloomberg Wall Street Week Anchor David Westin. Gen. Mark Kimmitt (Ret.), former Assistant Secretary of State for Political-Military Affairs. See omnystudio.com/listener for privacy information.

Insight & analysis on the White House and Capitol Hill. Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump claimed the US had “total control over the Hormuz Strait,” as Washington and Tehran hardened their positions in deadlocked negotiations over the critical waterway. “We own it,” Trump told reporters at Joint Base Andrews outside Washington late Tuesday, an assertion Iran has dispelled via intermittent attacks on ships transiting the passage. “At some point, maybe they’ll do something, and then they get blown away.” Trump has oscillated for months between threatening to resume attacks on Iran and expressing confidence that talks to bring an end to America’s war with the Islamic Republic are progressing. His latest comments came after Pakistan’s defense minister, Khawaja Asif, told Bloomberg in Islamabad that the two sides are “close to some sort of arrangement” over Hormuz, a key sticking point. Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz…