Balance of Power

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 retaining that chamber. 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: https://bloomberg.zoom.us/webinar/register/WN__PqCkwY-S2m3hbQqvVC1_Q#/registrationSee 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 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 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. Beacon Global Strategies Managing Director Michael Allen. ROKK Solutions Partner Kristen Hawn and Bluestack Strategies Founder Maura Gillespie. Bloomberg News Agriculture Reporter Ilena Peng. Assistant US Attorney General for Civil Rights Harmeet Dhillon. 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 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 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. Former Republican Congressman Patrick McHenry of North Carolina. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. Bloomberg Markets Live Blog Managing Editor Kristine Aquino. CIBC Private Wealth Senior Energy Trader Rebecca Babin. 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. Moderate Democrat David Crowley defeated Democratic Socialist Francesca Hong in Wisconsin’s primary for governor, an upset in a race that had become a test of the party’s ideological direction.Crowley had 39.8% of the vote to Hong’s 39.3%, with 99% of the expected vote counted, according to the AP. Decision Desk HQ also called the race for Crowley.Crowley’s projected victory puts a check on recent momentum for the Democratic Party’s progressive wing, a week after Abdul El-Sayed defeated an establishment-backed candidate in Michigan’s primary for US Senate. But the close margin also showed the power of the party’s left flank, with Hong coming within reach of leading the ticket in a key battleground 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 this edition, Joe and Kailey speak with: Bloomberg Washington Correspondent Tyler Kendall. Republican Congressman Bryan Steil of Wisconsin. Stonecourt Capital Partner Rick Davis and Rebelle Communications CEO Laura Fink. Arbroath Group Managing Partner Christopher Smart. 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. Pakistan’s defense minister said the US and Iran are “close to some sort of arrangement” over the Strait of Hormuz, even after both sides appeared to toughened their positions in the long-deadlocked negotiations. “Things are shaping up in favor of peace,” Khawaja Asif told reporters in Islamabad on Tuesday, without giving details of any breakthrough. Pakistan’s Interior Minister Mohsin Naqvi will shortly arrive in Tehran to hold talks with his Iranian counterpart, the Islamic Republic’s semi-official Fars agency reported.  Talks between Iran and Oman about reopening Hormuz to some maritime shipping have reached an advanced stage, Al Jazeera reported earlier, citing a Qatari Foreign Ministry spokesperson. Pakistan has been mediating the conflict, alongside Qatar.    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. Former White House Director of Legislative Affairs during the first Trump administration Marc Short. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. Ipsos US Public Affairs Chair Cliff Young. See omnystudio.com/listener for privacy information.

With Congress now in August recess, President Donald Trump and Congress have a long list of items that may see action before the midterm elections. Yet with only a handful of days in September when both chambers are in action, many of the initiatives could prove to be no more than headline risks and opportunities for companies and sectors. On Bloomberg Intelligence's August 10 Washington Policy Pulse, we discussed how a Senate continuing resolution to keep the government open until Dec. 11 -- which includes an extension of the Highway Authorization bill -- will likely be adopted, staving off, but not stopping a $580 billion highway package key for Vulcan, CRH and Marietta. We also looked what fares next for the CLARTY Act and Coinbase and Robinhood after it failed to pass the Senate before recess. Finally, we updated clients on the outlook for the farm bill, defense spending, and a bill that would allow President Donald Trump to place tariffs on countries that purchase oil from Russia. 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: https://bloomberg.zoom.us/webinar/register/WN__PqCkwY-S2m3hbQqvVC1_Q#/registrationSee 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 President Donald Trump signaled he’s prepared to let economic pressure on Iran build rather than launch fresh military strikes to force a reopening of the Strait of Hormuz, even as the Islamic Republic reiterated that the conditions still aren’t in place to allow free passage through the key waterway.“We are just watching Iran with its huge inflation and the fact they have no money,” Trump told Axios in an interview on Sunday, saying that a US naval blockade of the country was deepening its financial woes. “We are low-keying it.”The president’s comments mark a shift from his repeated threats to escalate the bombing campaign against Iran and come amid lingering talks between Tehran and Oman to reopen Hormuz. Iran has said it’s nearing a deal, while laying out a list of demands for Washington to meet before shipping can resume — including the lifting of sanctions.  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 speaks with: Bloomberg White House Correspondent Josh Wingrove. Democratic Congresswoman Suzan DelBene of Washington, Chair of the Democratic Congressional Campaign Committee. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. Bloomberg Intelligence Senior Commodities Strategist Mike McGlone. Princeton University Professor of Near Eastern Studies Bernard Haykel. See omnystudio.com/listener for privacy information.

Our Town from Bloomberg’s Big Take podcast follows residents of Gainesboro, Tennessee, after a group of far-right Christians moves in with plans for a radical social experiment.Listen to Episode 1 on the Big Take.See omnystudio.com/listener for privacy information.

Insight & analysis on the White House and Capitol Hill. The Senate voted to pass a slate of sweeping new sanctions against Russia Friday afternoon and extended existing sanctions against Iran. The bill faced pushback over its use of tariffs on countries that buy Russian oil, with some Democrats and Republican Rand Paul saying that would give President Trump too much authority to place new tariffs on countries like China and India. The Senate also made moves towards confirming Trump's nominee for Attorney General, Todd Blanche. Earlier in the day Senator Bill Cassidy of Louisiana said that he would back Blanche, clearing the way for his confirmation to the role. Giving remarks on the Senate floor Cassidy said, 'Mr. Blanche is not perfect, and he will tell you this, but the choice is not between perfection and Mr. Blanche. It is between Mr. Blanche and another acting attorney general, who may not run the department effectively under President Trump.'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 Josh Wingrove Former Chair of the White House Council of Economic Advisers under President Joe Biden Jared Bernstein Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and Bluestack Strategies Founder Maura Gillespie Bloomberg's Tyler Kendall sits down with US Army Secretary Dan Driscoll See omnystudio.com/listener for privacy information.

President Trump took to Truth Social Thursday to hit back at reports that the US has depleted much of its munitions stockpile and that the president clashed with Defense Secretary Pete Hegseth over the state of the stockpile. President Trump wrote, "The U.S. has massive amounts of 'munitions'" in his post and said that more were being manufactured. In an additional post Thursday afternoon, he doubled down saying 'I am extremely happy with the job that Pete Hegseth is doing.'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 Jeff Mason Council on Foreign Relations President Emeritus Richard Haass Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and Stonecourt Capital Partner Rick Davis. Former Republican Congressman from North Carolina and Former House Financial Services Committee chairman Patrick McHenry See omnystudio.com/listener for privacy information.

Former Virginia Governor Glenn Youngkin says he does not anticipate being on a presidential debate stage in 2028, while stopping short of definitively ruling out a campaign. Youngkin also says communities should have the final say on data center development and that developers must address concerns about power, water and infrastructure. He also discusses his new initiative promoting a federal scholarship tax credit. He speaks with Kailey Leinz and Joe Mathieu on the late edition of Bloomberg's "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. Abdul El-Sayed won the Democratic US Senate primary in Michigan, notching a narrow but cataclysmic victory over Representative Haley Stevens and the establishment wing of the party that backed her in the battleground state. El-Sayed prevailed with 48.5% of the vote to Stevens’ 47.5%, according to the Associated Press. Mallory McMorrow, who had suspended her campaign, drew 4% of the votes.  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 News White House Correspondent Kate Sullivan. Political Scientist Lara Brown. Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and Stonecourt Capital Partner Rick Davis. University of Virginia's Center for Politics' Sabato's Crystal Ball Managing Editor Kyle Kondik. 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 President Donald Trump is pushing Iran to reach a deal with Oman on the Strait of Hormuz as soon as Tuesday, or face devastating air strikes.“I want to give them every last chance before decapitation,” Trump told reporters on Monday. “You’ll find out today or tomorrow. I mean, they’re going to go quickly, one way or the other. It’s not very complex.”This is a “last chance” for Iran to come to an agreement, the president said, after he called off what he described as a major attack on the Islamic Republic over the weekend that would have likely involved Israel. 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 News White House and Politics Team Lead Jordan Fabian. American Petroleum Institute President and CEO Mike Sommers. Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and Stonecourt Capital Partner Rick Davis. Bloomberg Tech Co-Host Ed Ludlow. Brookings Institution Vice President Suzanne Maloney. 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 said his latest offer of talks is a “last chance” for Iran after he called off what he said was a major attack on the Islamic Republic. Iran denied it was negotiating with the US, but said talks with Oman to get more ships moving through the Strait of Hormuz are making progress.Despite the conflicting signals, the suggestions of renewed diplomacy pushed oil prices lower on Monday, with Brent crude down about 4.6% to just under $84 a barrel. 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 News White House and Politics Team Lead Jordan Fabian. Beacon Global Strategies Managing Director Michael Allen. Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and Stonecourt Capital Partner Rick Davis. Bloomberg Intelligence Senior US Policy Analyst Nathan Dean. See omnystudio.com/listener for privacy information.

With the Senate entering its final week before the the August recess, political discussions over a cryptocurrnecy market structure bill -- ahead of a potential procedural vote this week -- led Bloomberg Intelligence's August 3 Washington Policy Pulse. A vote that gains more than 60 Senators would likely just kick the can on negotiations during the recess. Failure could keep the regulatory landscape for firms like Coinbase, Robinhood and other platforms murky for the next few years. We also discussed the latest on a government shutdown and Senate efforts to unlock a $95 billion reconciliation bill that would aid contractors like Lockheed Martin, RTX and Northrop Grumman. 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: https://bloomberg.zoom.us/webinar/register/WN__PqCkwY-S2m3hbQqvVC1_Q#/registrationSee 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. President Donald Trump said he’s losing confidence in Iranian negotiators, the latest sign that the renewal of armed hostilities in the Middle East could drag on. Speaking during a Cabinet meeting on Friday, Trump took issue with missile attacks that Iran launched earlier this week against US forces in Jordan that ended a multi-day pause in fighting. “I’m losing faith in them because they do lie and do, they do misrepresent,” Trump told reporters during the meeting at the Camp David presidential retreat in Maryland. Meanwhile, Michigan’s Senate primary is emerging as the biggest test yet of whether the Democrats’ progressive wing can notch a major victory in a presidential battleground heading into 2028 — or if the movement’s historic shortfall with Black voters will undercut its national ambitions.  On this edition, Joe and Kailey speak with: Tyler Kendall, Bloomberg Washington Correspondent Gen. Wesley Clark, Retired Four-Star General in the US Army, Served as Commander of US Southern Command, founder of Wesley K. Clark and Associates Jeanne Sheehan Zaino, Democracy Visiting Fellow at Harvard Kennedy School's Ash Center and Bloomberg Politics Contributor & Leslie Shedd, President of Rising Communications and Republican Strategist Spencer Kimball, Director of the Emerson College Polling Center 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 said he is open to the possibility of temporarily withdrawing Todd Blanche’s nomination as attorney general amid opposition from two Republican senators, suggesting he could renominate his pick after those lawmakers departed office.Trump’s comments come amid a delay in the confirmation process for Blanche, currently serving as the acting attorney general, to take the role on a permanent basis.Republican Senators Thom Tillis of North Carolina and John Cornyn of Texas are demanding written guarantees that plans for a $1.8 billion fund to pay victims of alleged government weaponization are being scrapped. They also want assurances that a provision in a legal settlement giving Trump, members of his family and his businesses immunity from past Internal Revenue Service audits would not apply to third parties. Trump reached a settlement with the IRS over leaks of his tax information in 2019.  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. Former Democratic Congresswoman and Ranking Member of the House Intelligence Committee Jane Harman. Maywood Strategies Principal Douglas Farrar and Jersey 1st Founder Rosemary Becchi. Bloomberg Tech Host Ed Ludlow. Former Republican Congressman Patrick McHenry, Bloomberg Contributor. 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 said the US would strike back at Iran after a recent attack that targeted a military base in Jordan, as the war in the Middle East flared up once again following a recent pause in hostilities.“We’ll be hitting them hard,” Trump said in a phone interview, Fox News reported Wednesday, adding that “they’re going to get a beating.”The comments sent oil surging back above $90 a barrel. A days-long halt to strikes ended Tuesday night after US forces said they were targeted by Iran — in what Trump called a “surprise attack” — while Iran’s state-run IRIB News said the US struck a location in the country’s West Azerbaijan province. Iranian media said the Islamic Revolutionary Guard Corps targeted a base in Jordan in response to “aggressive US actions,” without giving details. 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 Economics Defense Lead Becca Wasser. Alliance for Automotive Innovation President and CEO John Bozzella. Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and American Principles Project Political Director Katie Frost. 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 President Donald Trump welcomed Israeli Prime Minister Benjamin Netanyahu to the White House Tuesday as the US leader sought to avoid renewed bombing in Iran and instead laid the ground for further diplomacy after both sides paused tit-for-tat strikes.“I think we have a very strong position right now,” Trump told Fox News on Tuesday. He reiterated his threat to bomb Iran’s major bridges if no agreement can be reached, but added “if I can avoid doing that, I’d like to do that.”Trump’s comments came four days after the US ended roughly two weeks of strikes on the Islamic Republic. Hostilities had resumed when peace negotiations over the Strait of Hormuz broke down. In turn, Iran paused retaliatory fire on Gulf states.  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 News White House Correspondent Skylar Woodhouse. Atlantic Council Nonresident Senior Fellow Melinda Haring. Bloomberg Washington Correspondent Tyler Kendall. Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and Republican Main Street Partnership President and CEO Sarah Chamberlain. Center for Strategic and International Studies Senior Fellow Ben Jensen. 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. Some House Republicans are urging President Donald Trump to expand his visibility for them on the campaign trail, as lawmakers sound the alarm on their vulnerabilities with him not being at the top of the ticket. Several lawmakers who spoke to Bloomberg Government said they wanted Trump to be more aggressive in the crucial months before the November election to help turn out low propensity voters with control of Congress hanging in the balance and more than 40 open House GOP seats “He needs to travel and convince our base that he is on the ticket because if we lose the majority he’s probably going to be impeached twice a week,” said Rep. Carlos Gimenez (R-Fla.). 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: House Minority Leader Hakeem Jeffries, Democratic Congressman from New York. Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and Brownstein Hyatt Farber Schreck Policy Director Greta Joynes. Bloomberg White House and Washington Correspondent Jeff Mason. American Enterprise Institute Nonresident Senior Fellow Heather Conley. 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 edition, Joe speaks with: Bloomberg News Washington and White House Correspondent Jeff Mason. Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and American Principles Project Political Director Katie Frost. Center for Strategic and International Studies Senior Fellow Tom Karako. Ambassador of Ireland to the United States Geraldine Byrne Nason. 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 House passed stopgap funding to keep the government open past the midterm elections, though the measure now faces demands for changes in the Senate. Government funding is currently set to run out after Sept. 30. The legislation, passed Tuesday on a 220 to 205 vote, would extend that through Dec. 4. Speaker Mike Johnson was able to unite House Republicans in the face of opposition from minority Democrats, who argued the bill contained a loophole which could allow the administration to add more funding for immigration raids.  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: Republican Senator Ted Budd of North Carolina. Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and Echo Canyon Consulting Founder Jon Seaton. Republican Congressman Bryan Steil of Wisconsin. Center for Strategic and International Studies Director Mona Yacoubian. EqualAI President and CEO Miriam Vogel. 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. House passage yesterday of a stopgap measure marks the first step in congressional wrangling over how to avoid a government shutdown this fall, even if the legislation changes before it reaches President Donald Trump’s desk.Government funding set to run out after Sept. 30 would be extended through Dec. 4 under the legislation, which passed on a 220-205 vote.Democrats largely opposed the measure (H.R. 9770), citing the lack of technical language from a past funding extension for the Department of Homeland Security that explicitly zeroes out funding for immigration enforcement agencies after deadly shootings by those officers. 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. Republican Congressman Chip Roy of Texas. Former Republican Congressman Patrick McHenry, Bloomberg Contributor. Port of Long Beach CEO Noel Hacegaba. 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 President Donald Trump minimized the prospect of immediate talks with Iran as the two sides exchanged strikes and Houthi militants in Yemen threatened shipping in the Red Sea.Trump vowed on Tuesday to respond if the Iran-backed group disrupted that waterway, but didn’t specify how. His comments came after the 10th day of US and Iranian attacks and as mediators continued efforts to restart negotiations. Oil prices ticked higher amid the threats to key routes for global energy supplies.  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. Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and Rising Communications President Leslie Shedd. Republican Congressman Byron Donalds of Florida. See omnystudio.com/listener for privacy information.

A look at the National Defense Authorization Act -- which could be voted upon by the House of Representatives this week -- led Bloomberg Intelligence's July 20 Washington Policy Pulse -- with a highlight of a Senate provision that would prohibit firms that contract with the Department of Defense from conducting stock buybacks or pay dividends. We think that the language, as written, could -- subject to liberal interpretation -- could apply to more firms than just defense contractors. We also previewed what the US Trade Representative may do later this week as the deadline for President Donald Trump's Section 122 tariffs comes on July 24. We expect tariffs will be shifted to Section 301 tariffs, and could represent an increase for firms like Nike, Adidas, Lululemon and peers. Finally, we discussed the House budget reconciliation efforts -- which aims to provide up to $60 billion in funds for the conflict with Iran -- and how that effort may struggle to become law. 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: https://bloomberg.zoom.us/webinar/register/WN__PqCkwY-S2m3hbQqvVC1_Q#/registrationSee 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 vowed that Iran “will pay” for killing three US soldiers in recent days, even as mediators proposed a new truce with the Middle East war widening further.   “Every time Iran kills an American Soldier they will pay for that killing many times over!” Trump wrote on social media on Monday.White House Press Secretary Karoline Leavitt also said the president will attend a dignified transfer ceremony for “our fallen heroes” on Tuesday evening. 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. Republican Congressman Mike Flood of Nebraska. See omnystudio.com/listener for privacy information.

Insight & analysis on the White House and Capitol Hill.Watch Joe LIVE every day on YouTube: http://bit.ly/3vTiACF.President Trump accused China of meddling in the 2020 elections and alleged a cover up by the US intelligence community in his primetime address to the nation Thursday night. Trump said, 'great damage has been done to our country. Our elections were left vulnerable to being rigged and stolen, and the trust of the American people was lost,' and urged Congress to pass a the SAVE act, voter identification legislation backed by the president. President Trump also briefly mentioned the conflict in Iran, as the US unleashed more strikes Thursday night and into Friday morning. Bloomberg Washington Correspondent 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: J Street Senior Vice President and Chief Policy Officer Ilan Goldenberg Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino Bloomberg Senior Editor for Technology & Strategic Industries Michael Shepard CIBC Private Wealth Senior Equity Trader and Managing Director Rebecca Babin See omnystudio.com/listener for privacy information.

Insight & analysis on the White House and Capitol Hill.Watch Joe LIVE every day on YouTube: http://bit.ly/3vTiACF.White House press secretary Karoline Leavitt told reporters that President Trump will be releasing 'findings' on the 2020 election in his address from the White House tonight and that all of his claims around election integrity will be 'backed by facts.' Leavitt also told reporters that a longtime teleprompter operator who has been found betting on presidential speeches on Kalshi has been put on leave. Leavitt called the actions 'deeply unfortunate and frankly a disgrace' and said that the prediction market alerted the CFTC about the bets.Bloomberg Washington Correspondent 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 Emory University Associate Professor of Political Science Andra Gillespie.Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino.Host of Bloomberg's 'This Weekend' and 'The Big Take' Podcast David Gura. Bloomberg Congress Reporter Erik Wasson.See omnystudio.com/listener for privacy information.

Insight & analysis on the White House and Capitol Hill.Watch Joe LIVE every day on YouTube: http://bit.ly/3vTiACF.The United States launched more strikes against Iran Wednesday with the President pledging to keep up the barrage until Iran stops attacking targets in the Strait of Hormuz. Talking to Fox News last night President Trump said, 'We’re going to hit them very hard the night after. And then next week it gets really bad for them because next week comes the power plants. We’re going to knock out all of their bridges unless they get to the table and negotiate.' Lawmakers also released a spending blueprint that would allocate more than $60 billion in funding for armed services. Bloomberg Washington Correspondent 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 Economics Lead for Economic Statecraft Chris Kennedy Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino Former Republican Congressman from North Carolina and former House Financial Services Committee Chairman Patrick McHenry Bloomberg Washington Correspondent Tyler Kendall speaks with President and Chairman of the Export-Import Bank of the United States John Jovanovic, on the sidelines of the Pennsylvania Defense & Innovation Summit See omnystudio.com/listener for privacy information.

Insight & analysis on the White House and Capitol Hill.Watch Joe LIVE every day on YouTube: http://bit.ly/3vTiACF.President Trump said that he is shelving the potential 20% fee for cargo ships passing through the Strait of Hormuz after gulf states urged him to drop it. 'I don’t like the concept of a fee,' Trump told reporters during an oval office meeting with the Prime Minister of Iraq. 'They’re going to be making massive investments into the United States, and I like that much better.' Trump said that he spoke to representatives of the Saudi Arabia, Qatar, Bahrain, Kuwait and the United Arab Emirates who urged him to change course.Bloomberg Washington Correspondent Joe Mathieu delivers 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 International Economics and Policy Correspondent Mike McKee-Bloomberg Economics Chief Geoeconomics Analyst Jennifer Welch-Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino.-Republican Congressman from Montana Troy Downing. See omnystudio.com/listener for privacy information.

A look at the fallout from Senator Lindsey Graham's unexpected death and the impact it has on reconciliation 3.0 chances, a potential for $350 billion in defense funding and the appropriations process led Bloomberg Intelligence's July 13 Washington Policy Pulse.  The death of the Senate Budget Committee chairman -- who was a key proponent of another reconciliation package -- probably puts further roadblocks on the idea and supports our view that such a package has a low chance of success in 2026. We also discussed the forecast for the CLARITY Act and whether or not a crypto bill can pass in July. For crypto platforms like Robinhood and Coinbase, the failure to pass the bill in 2026 likely leaves the industry with regulatory certainty only for a few years, not long-term.  Finally, we previewed Fed Chairman Kevin Warsh's testimony on Capitol Hill and whether or not he will address bank regulatory matters important to Bank of America, Citigroup and Wells Fargo.  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: https://bloomberg.zoom.us/webinar/register/WN__PqCkwY-S2m3hbQqvVC1_Q#/registrationSee 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 Trump and lawmakers spoke out Monday in memory of South Carolina Senator Lindsey Graham after his sudden death early Sunday morning. In a social media post over the weekend Trump remembered Graham as, "one of the greatest people and Senators I have ever known.” Graham was known as a staunch foreign policy hawk and had spent his final days in Ukraine working to support the country's fight against Russia and was pushing for an increased Russian sanctions package. Graham's death opens up questions about the legislative path forward in the Senate, as well as questions about who will succeed him in his seat.  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 Congressional Reporter Erik Wasson Hudson Institute Senior Fellow Rebeccah Heinrichs Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino Chairman of Advancing American Freedom and Former Director of Legislative Affairs at the White House Marc Short 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 said the US would continue talks with Iran but considers the ceasefire between the countries to be over.“The Islamic Republic of Iran has asked us to continue ‘talks.’ We have agreed to do so, but the United States has stated to them, in no uncertain terms, that the Cease Fire is OVER!,” Trump said Friday on social media.The president’s comments follow several nights of US airstrikes and Iranian retaliation that sent oil prices higher and raised doubts about further talks toward a broader peace deal. The recent tensions, along with a US Treasury move to revoke a waiver allowing Iran to sell its oil globally posed the biggest challenges yet to an interim peace deal between Washington and Tehran. 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: Former US Ambassador to Iraq James Jeffrey. Bloomberg Tech Host Ed Ludlow Bloomberg Washington Correspondent Tyler Kendall. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. Bloomberg Television Markets Correspondent Norah Mulinda. Quincy Institute for Responsible Statecraft Executive Vice President Trita Parsi. 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 military attacked Iran for a second day and Tehran retaliated against American allies in the Persian Gulf, raising fears of a return to war after little progress in efforts to secure a diplomatic outcome.US Central Command said on X about 90 targets were hit overnight — after 80 the previous day — “to further degrade” Iran’s ability to attack commercial shipping in the Strait of Hormuz. Iran reported strikes on the perimeter of a nuclear power plant and two railway bridges connecting the capital to the city of Mashhad, where former Supreme Leader Ali Khamenei is being buried on Thursday. 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 Economics Defense Lead Becca Wasser. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. Former Director for Iran at the National Security Council Emily Harding. 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 said the US would probably launch further strikes on Iran and could resume a blockade on the country’s ports, ratcheting up pressure on Tehran and raising the prospect of a return to all-out war.“We hit them very hard last night,” Trump said Wednesday on the sidelines of the NATO summit in Ankara, Turkey. “Probably hit them hard again tonight.”Trump spoke hours after the US launched strikes on Iran, with almost 40 fighter jets — F-35s, F-15s, F-16s and F/A-18s as well as drones — hitting targets with precision-guided weapons, according to a US official.  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 Chief Political Correspondent Annmarie Hordern. Carnegie Endowment for International Peace Senior Fellow Aaron David Miller. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. Bloomberg TV Markets Correspondent Norah Mulinda. Former Republican Congressman Patrick McHenry. 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. NATO allies have agreed to at least $50 billion in defense industry deals, according to an alliance official, to show to US President Donald Trump that Europe is heeding his spending demands.Secretary General Mark Rutte revealed some of the contracts on Tuesday during a defense industry forum in Ankara, Turkey’s capital, where the military alliance’s leaders are meeting for their annual summit this week. Those included $12 billion in deals to buy next-generation drones, surveillance planes and military aircraft.Notably, some of the contracts show Europe moving to locally source some equipment it previously bought from the US. Eleven countries, for instance, will now buy airborne radar-detection systems from Swedish aerospace firm Saab AB, replacing a US-made Boeing Co. model. The deal is worth $5 billion, according to a NATO diplomat. 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 Chief Political Correspondent Annmarie Hordern. Atlantic Council Nonresident Senior Fellow Melinda Haring. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. EqualAI President and CEO Miriam Vogel. 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 will meet with Ukrainian President Volodymyr Zelenskyy at a NATO summit in Turkey on Wednesday that will be charged with tension over the US leader’s views on Greenland, European defense spending and the Iran war.Trump arrives in Turkey on Tuesday, when he will meet with President Recep Tayyip Erdogan before a summit with the full defense alliance the next day, White House spokesperson Anna Kelly said.Trump, who has had an up-and-down relationship with Zelenskyy, had pledged as a presidential candidate to end Russia’s war with Ukraine within a day once he returned to office. He has been frustrated by an inability to do that.  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. Former US Ambassador to NATO Ivo Daalder. Bloomberg News Business of Sports Reporter Randall Williams. BGR Group Principal Lester Munson and Vantage Global Media Founder Jamie Jackson. SMBC Americas Chief Economist Joe Lavorgna. 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 hiring slowed sharply in June even as the unemployment rate fell, curbing some of the budding momentum in job growth this year. Nonfarm payrolls increased 57,000 last month after downward revisions to the prior two months took some of the shine off recent blockbuster reports, Bureau of Labor Statistics data Thursday showed. The unemployment rate fell to 4.2% as labor force participation plunged. 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 International Economics and Policy Correspondent Michael McKee. Republican Congressman Jason Smith of Missouri, House Ways and Means Committee Chairman. Stonecourt Capital Partner Rick Davis and Democratic Strategist Matt Robison. Democratic Congresswoman Suzan DelBene of Washington, Democratic Congressional Campaign Committee Chair. 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 President Donald Trump said negotiators had made progress in indirect talks with Iran, as the two countries seek to move past last week’s tit-for-tat strikes and convert their interim truce into a lasting peace.Trump’s son-in-law Jared Kushner and envoy Steve Witkoff visited Qatar on Tuesday for technical discussions on the initial agreement, which set a 60-day negotiating period between Washington and Tehran. “They’ve had very good meetings, and we’ll see. We hit them very hard for three nights, as you know, but we’re getting along very well, so I call it the denuclearization, and it’s all taking place,” Trump said, without specifying what, if any, breakthroughs were made.  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 and Washington Correspondent Jeff Mason. Rebelle Communications CEO Laura Fink and Digital Push Vice President T.W. Arrighi. Former Republican Congressman Patrick McHenry. Bloomberg Television Markets Correspondent Norah Mulinda. National Association of Manufacturers President Jay Timmons. 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. A divided US Supreme Court upheld the constitutional right of birthright citizenship, rejecting President Donald Trump’s planned restrictions and invalidating a central plank of his immigration agenda.The court said an executive order Trump issued hours after his inauguration last year couldn’t be squared with the Constitution’s 14th Amendment, which has long been understood as guaranteeing citizenship to virtually everyone born on US soil. The case tested what it means to be an American. Trump’s order sought to restrict birthright citizenship to babies with at least one parent who is a US citizen or green-card holder, affecting an estimated 250,000 children born to undocumented immigrants and temporary visitors each 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 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 Maywood Strategies Principal Doug Farrar. Bloomberg News Legal Reporter Erik Larson. Former FTC Commissioner Rebecca Slaughter. Bloomberg White House and Washington Correspondent Jeff Mason. Kpler Head of Policy and Geopolitical Risk Michelle Brouhard. See omnystudio.com/listener for privacy information.

A look at the $87.6 billion supplemental spending request from the White House, which would earmark most of that to the Department of Defense and the conflict with Iran, led Bloomberg Intelligence's July 29 Washington Policy Pulse. However, the request may get a frosty reception on Capitol Hill from both sides of the aisle. Democrats will likely oppose any larger request tied to the conflict with Iran and Republicans may be concerned with messaging ahead of the US midterms. And while $11 billion in farm aid that was included in the request would have bipartisan support, it's inclusion in a larger bill makes it less of a chance of passing in 2026. Increased defense spending, if enacted, would likely be tied to counter-drone and anti-missile technology, aiding contractors like Lockheed Martin, RTX and Northrop Grumman. Finally, we gave a slight preview of the Supreme Court's decision on the Federal Reserve Lisa Cook case, as well as highlighted upcoming legislation and hearings in July tied to artificial intelligence. While US policy on AI remains high-level and "light-touch", there is growing dissent with the sector with both Republicans and Democrats. 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: https://bloomberg.zoom.us/webinar/register/WN__PqCkwY-S2m3hbQqvVC1_Q#/registrationSee 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. A closely divided US Supreme Court reinforced the Federal Reserve’s independence from the White House, protecting governors from being fired by the president without proof of wrongdoing.The Fed shield came even as the court in a separate ruling Monday expanded the president’s power to fire top government officials at other federal agencies in a blockbuster ruling that overturns a 91-year-old precedent.Voting 5-4, the high court said Fed Governor Lisa Cook can stay in her job while she fights Trump’s bid to oust her over unproven mortgage fraud allegations. Writing for the majority, Chief Justice John Roberts pointed to what he said was a long tradition of keeping the Fed’s exercise of monetary policy independent from the White House. 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. Former Acting White House Chief of Staff Mick Mulvaney. Stonecourt Capital Partner Rick Davis and Hicks Evaluation Group CEO Fredrick Hicks. Constitutional Accountability Center President Elizabeth Wydra. Bloomberg International Economics and Policy Correspondent Michael McKee. Republican Congresswoman Nicole Malliotakis of New York. See omnystudio.com/listener for privacy information.

The US Supreme Court ruled that Federal Reserve Governor Lisa Cook can stay in her job for now, reinforcing the central bank’s independence from the White House and dealing a setback to President Donald Trump.In a separate ruling, the court expanded the president’s power to fire top government officials at other federal agencies.Voting 5-4, the high court said Cook can remain at the Fed while she fights Trump’s bid to oust her over unproven mortgage fraud allegations. Chief Justice John Roberts and Justice Brett Kavanaugh joined the three liberals in the majority. Bloomberg's Paul Sweeney and Scarlet Fu got reaction from: June Grasso, Bloomberg Law Host Elliot Stein, Bloomberg Intelligence litigation analyst  Tyler Kendall, Bloomberg Washington correspondent  Gautam Mukunda, Lecturer at Yale School of Management and Bloomberg Opinion contributor 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 President Donald Trump accused Iran of violating their ceasefire agreement by firing at cargo ships transiting the Strait of Hormuz, underscoring how unsettled the situation remains in a waterway critical to global energy flows. In a social media post Friday, Trump said “at least four” one-way attack drones targeted ships in the strait and that one of them “solidly hit the upper deck of a large and very expensive” cargo ship.The vessel was “able to proceed,” Trump said, adding that the other three drones were downed.“Obviously, this is a foolish violation of our Ceasefire Agreement,” the president posted, without saying what the consequences of a violation might be.  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. Democratic Congresswoman Madeleine Dean of Pennsylvania. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. Rear Admiral Mark Montgomery (Ret.), Foundation for Defense of Democracies Senior Fellow. 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. Tensions between Donald Trump and US Senate Republicans crescendoed to a fever-pitch during a Wednesday lunch after a 24-hour exchange that saw lawmakers rebuke the president over the war with Iran while he abruptly canceled a signing ceremony for legislation that the GOP sees as essential to its midterm election efforts. Trump refused to sign a bipartisan housing bill before attending a private luncheon with lawmakers at the US Capitol. A day earlier, as Trump was holding a campaign rally in Pennsylvania, the Republican-led Senate for the first time passed a largely symbolic measure to curb his ability to wage war with Iran. US Senator John Kennedy, a Louisiana Republican, told reporters that Trump was “mad as a murder hornet” at the war powers vote because it undermined his ongoing negotiations with Iran. 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. NATO Secretary General Mark Rutte. Former US Ambassador to NATO Kay Bailey Hutchison. Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and American Principles Project Political Director Katie Frost. Taxpayers for Common Sense President Steve Ellis. 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. Donald Trump and Republicans in the US Senate squabbled on Wednesday, as the president abruptly canceled plans to sign a bipartisan housing bill and lawmakers pressed him over his handling of the war in Iran.Trump’s refusal to sign the legislation came shortly before a private luncheon with Senate Republicans at the US Capitol, where tensions quickly flared. Louisiana Republican Bill Cassidy, whose Senate career Trump helped end, repeatedly criticized the president over the Middle East conflict, while Senate Majority Leader John Thune tried to play peacemaker, a person familiar said. Spokespeople for Cassidy and Thune did not immediately respond to requests for comment.The president defended his war effort, telling senators he is the first president to do something to stop Iran from obtaining a nuclear weapon, said another person familiar with the matter, who requested anonymity to describe the closed-door exchange. Senator Jon Husted, a Republican from Ohio, described the Cassidy-Trump exchange as “memorable” but declined to say more. 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 Government Senior Washington Reporter Jonathan Tamari. Republican Congressman Mike Lawler of New York. Burway Group Senior Advisor Roger Fisk and Brownstein Hyatt Farber Schreck Partner Rosemary Becchi. Bloomberg White House Correspondent Jennifer Dlouhy. Former US Ambassador to NATO Ivo Daalder. 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 edition, Joe and Kailey speak with: Bloomberg Washington Correspondent Tyler Kendall. American Petroleum Institute President Mike Sommers. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. Bloomberg TV Markets Correspondent Norah Mulinda. States Project Co-Founder and former New York State Senator Daniel Squadron. See omnystudio.com/listener for privacy information.

A preview of Senate and House plans this week to vote on a package that incorporates President Donald Trump's wishes on banning institutional investors from purchasing single-family homes led Bloomberg Intelligence's June 22 Washington Policy Pulse. Yet while corporate entities won't be able to purchase more than 350 homes, it's important to note for single-family REITs like Invitation Homes and AMH, the impact may be lessened by exemptions in the bill. The bill also doesn't contain language that would require build-to-rent communities from being required to divest rental communities after seven years. We also discussed upcoming Congressional hearings on the Fintech and digital asset sectors and why Washington will likely be in a lull period for the fintech space, limiting policy risk for Visa, Mastercard and Stripe for now. Finally, we gave a slight preview of some of the comment letters banking trade associations provided in regards to a capital requirement raising proposal called the Basel III endgame. Much of the sector hopes that the Fed will allow further capital reductions, which we currently estimate to be around $18 billion for the largest banks including JPMorgan and Bank of America. 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: https://bloomberg.zoom.us/webinar/register/WN__PqCkwY-S2m3hbQqvVC1_Q#/registrationSee 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 issued a 60-day license allowing Iran to sell oil on the international market, giving Tehran an economic lifeline as the two adversaries continued talks for a permanent peace deal.Vice President JD Vance, attending the discussions in Switzerland, described the first round of negotiations as “very very good” and said Iran had agreed to allow nuclear inspectors back into the country — a claim later backed up by President Donald Trump. But Iranian officials, who also cited progress, challenged that claim, saying Vance’s assertion was “false and does not reflect reality.”The discrepancy underscored the challenges that remain ahead as the two sides look to fulfill a memorandum of understanding signed last week to halt their conflict and pave the way for a long-term deal. That agreement left key issues unresolved while also aiming to give Iran immediate financial benefit, a dynamic that drew fierce criticism from Trump’s Republican allies. 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. American Enterprise Institute Nonresident Senior Fellow Heather Conley. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. Bloomberg Opinion Editorial Board Member Therese Raphael. FIL Inc. CEO and Pollster Frank Luntz. See omnystudio.com/listener for privacy information.