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.President Donald Trump removed Kristi Noem as Homeland Security secretary after months of controversy and announced he would replace her with Oklahoma Senator Markwayne Mullin.Trump posted on social media Thursday that the move would take effect March 31. He said that Noem would take a role as a special envoy for the Western Hemisphere. The change marks the first time Trump has replaced a Cabinet member during his second term. “I am pleased to announce that the Highly Respected United States Senator from the Great State of Oklahoma, Markwayne Mullin, will become the United States Secretary of Homeland Security (DHS),” Trump posted. “I thank Kristi for her service at ‘Homeland.’”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 Jeff Mason. Israel's Ambassador to the US Michael Leiter. Stonecourt Capital Partner Rick Davis and Bully Pulpit International Managing Director Adam Hodge. Center for Strategic and International Studies Vice President of the Defense & Security Department 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.The White House said the Iranian regime has been “absolutely crushed” while the timeline for military operations remained deeply unclear on the fifth day of the Middle East war, which continued to stress financial and energy markets.The US has sunk more than 20 Iranian vessels, eliminated 49 Iranian officials, struck more than 2,000 targets and is moving toward “complete and total control of Iranian airspace” in a “remarkably successful” mission, White House Press Secretary Karoline Leavitt told reporters Wednesday.The conflict showed no sign of abating, with Tehran again targeting Israel and Gulf states. Meanwhile, Israeli and US forces made good on pledges to bomb more targets in the Islamic Republic. The US sank an Iranian warship in international waters, marking the first time since World War II that an American submarine has attacked a surface vessel.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 This Weekend Co-Host David Gura. Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and Bluestack Strategies Founder Maura Gillespie. Former US Central Command Commander Gen. Kenneth "Frank" McKenzie (Ret.). 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-Israeli war on Iran reverberated across the region for a fourth day, with oil and gas prices surging and the world adjusting to a conflict that President Donald Trump has said could last for weeks. Israel bombarded Tehran with a fresh wave of strikes on Tuesday, and hit a building in the city of Qom where Iranian clerics were meeting to elect a successor to Supreme Leader Ayatollah Ali Khamenei, Israel’s Kan News reported. Iran’s semi-official Mehr news agency said the building was attacked but wasn’t in use at the time. The Islamic Republic fired missiles at countries including Qatar, Bahrain and Oman that host US bases, with Doha saying targets weren’t limited to military interests. Qatar and Iraq halted production at major energy sites, heightening concern over supply and prices. 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 National Security and Capitol Influence Reporter Jamie Tarabay. Bloomberg News Equities Reporter Alexandra Semenova. Bloomberg Washington Correspondent Tyler Kendall. Stimson Center Senior Fellow Kelly Grieco. Democratic Congressman Bill Foster of Illinois. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. 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 keep up its military offensive against Iran for as long as it takes, outlining for the first time a set of four objectives he hopes to accomplish toward reducing the threat he said is posed by Tehran.“We projected four to five weeks, but we have capability to go far longer than that,” Trump said at a White House event on Monday about the timeline he foresaw for the campaign. “Whatever the time is, it’s OK. Whatever it takes.”The president has faced mounting pressure to better define the goals of his extraordinary military intervention on Iran, after days of sending mixed signals about what he wanted to achieve. 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 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. Rapidan Energy Group Founder and President Bob McNally. Bloomberg Markets Live Blog Managing Editor Kristine Aquino. See omnystudio.com/listener for privacy information.

A briefing on the current state of the US-Iran conflict, with a focus on the defense contractors like Lockheed, RTX and Northrop, led the March 2 edition of Bloomberg Intelligence’s Washington Policy Pulse. Senior Industry Analyst Wayne Sanders discussed how the attack on Iran is likely to be a limited engagement relying primarily on air and naval assets, supporting increased US investment in those assets. We also discussed how we think Congress is unlikely to authorize -- or block -- President Donald Trump's tariff strategy and gave a timing update on the future of the Basel III endgame, set to impact Bank of America, Citigroup and other large banks. 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.

'Bloomberg This Weekend' features unique conversations on business, news, lifestyle and culture. Join David Gura, Christina Ruffini and Lisa Mateo Saturdays and Sundays for discussions with business leaders, lawmakers and cultural icons.  Watch the show LIVE on Bloomberg Television from 7AM-10AM Eastern Time.   Listen to the show LIVE on Bloomberg Radio from 7AM-10AM Eastern Time.   Listen to the Podcast for the best conversations from the show.   Subscribe on Apple: https://podcasts.apple.com/us/podcast/bloomberg-this-weekend/id1878739308Subscribe on Spotify: https://open.spotify.com/show/5DQ8CEg9LeS1xGJSaxt47lSee omnystudio.com/listener for privacy information.

The US and Israel began striking targets across Iran, with President Donald Trump urging Iranians to overthrow the government in a conflict that threatens to spiral across the oil-rich Middle East.   “The hour for your freedom is at hand,” Trump said, addressing Iranians in a video posted on Truth Social on Saturday. “When we’re finished, take over your government. It will be yours to take. This will be probably your only chance for generations.”   The military campaign could be a defining moment for Trump, risking a drawn-out regional war that leads to a surge in energy prices and American casualties ahead of mid-term elections this year. Iran quickly responded by firing missiles on Israel and US bases around the region, and countries in the Persian Gulf closed their airspace.  Israel’s military said the campaign would target “dozens of military targets,” and Iran media reported strikes on defensive and civilian sites, including more than 50 people dead in a strike on a school in Hormozgan, in the south of the country. Several large explosions were reported in the capital, Tehran.   Bloomberg's David Gura and Christina Ruffini lead our team coverage in this instant reaction podcast.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 Washington Correspondent Tyler Kendall Council on Foreign Relations President Emeritus Richard Haass Bloomberg Wall Street Week Anchor David Westin Stonecourt Capital Partner Rick Davis and Harvard Kennedy School’s Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino  Bloomberg Managing Editor for US Equities Michael Regan Bloomberg This Weekend Hosts David Gura and Christina Ruffini. 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. Oil swung as traders parsed competing headlines on the status of negotiations between the US and Iran. West Texas Intermediate inched down 0.3% to settle above $65 a barrel, while Brent ended the day below $71, as the US and Iran wrapped up a third round of nuclear talks in Geneva, just days ahead of President Donald Trump’s deadline to strike a deal. Oman, a mediator in the discussions, said that talks are set to continue next week in Vienna at a “technical level,” allaying fears of imminent US military action.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 Washington Correspondent Tyler Kendall.Rapidan Energy Group Founder Bob McNally.Stonecourt Capital Partner Rick Davis and Democratic Strategist Meghan Hays.Bloomberg Senior Editor for Technology and Strategic Industries Michael Shepard. 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.Addressing one of his biggest audiences at perhaps the lowest moment of his second term, President Donald Trump returned again and again in his State of the Union speech to the same message on the economy: Everything is going great. A resolute Trump was determined to will Americans into a better economic mood, seeking to paint over the affordability concerns at the center of upcoming midterm elections with statistics and self-congratulation. “Inflation is plummeting. Incomes are rising fast. The roaring economy is roaring like never before,” Trump boasted early in the nearly two-hour speech.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 Washington Correspondent Tyler Kendall. Republican Senator Steve Daines of Montana. Democratic Congresswoman Maggie Goodlander of New Hampshire. See omnystudio.com/listener for privacy information.

President Donald Trump delivered the longest State of the Union address of the television age Tuesday, declaring “a turnaround for the ages” as he tried to sell Americans on his economic program ahead of crucial midterm elections later this year. The speech had all the ceremony, confrontation and chaos that have come to define the event in an era of narrow congressional majorities and partisan polarization. Democratic Representative Al Green was ejected from the chamber for disrupting the speech. Trump invited the gold-medal-winning men’s Olympic hockey team into the gallery amid chants of “USA! USA! USA!” He awarded several medals honoring veterans and active-duty service members. And in more than 1 hour 47 minutes, the longest State of the Union in history, the president delivered a rally-like speech punctuated less by policy proposals than by political attacks.For instant reaction and analysis, Bloomberg Balance of Power hosts Joe Mathieu and Kailey Leinz speak with: Bloomberg White House correspondent Jeff Mason Rick Davis, Partner at Stonecourt Capital and Bloomberg Politics Contributor & Jeanne Sheehan Zaino, Democracy Visiting Fellow at Harvard Kennedy School's Ash Center and Bloomberg Politics Contributor US Interior Secretary Doug Burgum 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 Pentagon warned Anthropic PBC that it would terminate the company’s military contracts on Friday if the artificial intelligence startup failed to meet government terms for use of its technology, according to people familiar with the matter.During a meeting Tuesday between Chief Executive Officer Dario Amodei and Defense Secretary Pete Hegseth, US officials threatened to declare Anthropic a supply-chain risk or invoke the Defense Production Act to use the AI software even if the company didn’t comply, the people said.The ultimatum marks an escalation in a growing dispute between the Defense Department and the AI startup over the company’s insistence on guardrails for use of its Claude AI tool. If carried out, the Pentagon’s threat would put at risk up to $200 million in work that Anthropic had agreed to do for the military.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 Senior Editor for Technology and Strategic Industries Michael Shepard. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School's Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. Center for Strategic and International Studies Senior Adviser Gregory Allen. See omnystudio.com/listener for privacy information.

A discussion of the Supreme Court's Feb. 20 ruling that the tariffs utilized by President Donald Trump under the International Economic Emergency Powers Act were unlawful -- and what is next after Trump has signaled a 15% tariff under Section 122 of the Trade Act -- led Bloomberg Intelligence’s Feb. 23 edition of the Washington Policy Pulse. Senior Litigation Analyst Holly Froum also discussed the likelihood for refunds for firms like Amazon, Walmart and Apple. We also previewed Trump's Feb. 24 State of the Union address with a focus on affordability and headline risk for firms like Bank of America and Blackstone. 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 Supreme Court’s nixing of US President Donald Trump’s “reciprocal” tariffs is throwing fresh confusion over the raft of trade deals negotiated by global partners as the inescapable reality of ongoing levies remains a threat.The European Union on Monday froze the ratification process of its agreement with Washington. The move injected economic turbulence into an already strained transatlantic relationship. Without mentioning the EU specifically, Trump warned nations against taking advantage of his legal setback.  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 Jeff Mason. Bloomberg International Economics and Policy Correspondent Michael McKee. American Economic Liberties Project Director Lori Wallach. Ipsos US Public Affairs Chair Cliff Young. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School's Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. 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 rushed to salvage his signature tariffs after the Supreme Court struck down his global duties, pledging he would use different tools to work around the ruling and preserve import taxes he has cast as essential to his economic and foreign policy.The president said Friday he planned to impose a flat 10% levy on foreign goods in the coming days, and that he would order a raft of trade investigations that should allow him to enact more permanent tariffs.In a defiant and angry White House press conference hours after the decision, Trump vowed to forge ahead with his approach despite complaints from opponents who say it has undercut longtime trade partnerships and increased costs for Americans. The president has credited his tariff regime for driving substantial investments in the US and preventing foreign conflicts.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 Washington Correspondent Tyler Kendall. Bloomberg Surveillance Co-Host Tom Keene. Bloomberg News Senior Strategist Edward Harrison. Brookings Institution Foreign Policy Research Director Michael O'Hanlon. Harvard Kennedy School's Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and Echo Canyon Consulting CEO Jon Seaton. 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 is stationing a vast array of forces in the Middle East, including two aircraft carriers, fighter jets and refueling tankers, with President Donald Trump saying that Iran had ten to fifteen days at most to strike a deal over its nuclear program.“We’re either going to get a deal, or it’s going to be unfortunate for them,” Trump told reporters Thursday aboard Air Force One. On a deadline, Trump said he thought 10 to 15 days was “pretty much” the “maximum” he would allow for negotiations to continue.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 Skylar Woodhouse. Former Deputy National Security Adviser Meghan O'Sullivan. Bluestack Strategies Founder Maura Gillespie and Maywood Strategies Principal Doug Farrar. Emory University Professor Andra Gillespie. Bloomberg Intelligence Senior Commodities Strategist Mike McGlone. 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 second day of US-brokered meetings in Geneva between Russia and Ukraine broke up after barely 90 minutes as Ukrainian President Volodymyr Zelenskiy accused Moscow of attempting to prolong the process.The talks were difficult and businesslike, the head of Russia’s delegation Vladimir Medinsky said on Wednesday, adding the next meeting will take place soon without specifying when.“This is complex work that requires alignment among all parties and sufficient time. There is progress, but no details can be disclosed at this stage,” National Security and Defense Council Secretary Rustem Umerov, the head of Ukraine’s delegation, told reporters in Geneva after the talks ended. The next step is to reach enough consensus to put decisions in front of the presidents, he said. He left without taking any questions. 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 This Weekend Co-Host Christina Ruffini. Former US Ambassador to Ukraine William Taylor. ROKK Solutions Partner Kristen Hawn and Republican Main Street Partnership President and CEO Sarah Chamberlain. Vianovo Partner and former State Department Spokesperson Matthew Miller. 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 Department of Homeland Security shut down early Saturday amid a congressional funding impasse that shows no sign of ending soon, touched off by backlash over the Trump administration’s widespread and aggressive immigration enforcement raids. The lapse in funding could last for weeks, with Congress on a recess and no agreement on Democratic demands to enact new limits on the tactics employed by immigration officers patrolling American cities.The effects of the shutdown will be limited, but would grow over time. Unlike the record 43-day shutdown late last year, most US departments are funding through Sept. 30. In addition, more than 90% of DHS employees are deemed essential and will continue to work during the shutdown. 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 Washington Correspondent Tyler Kendall. Arizona State University McCain Institute Executive Director Evelyn Farkas. Harvard Kennedy School's Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and S-3 Group Partner Ashley Davis. Bloomberg Markets Live Blog Managing Editor Kristine Aquino. Democratic Congresswoman Dina Titus of Nevada. See omnystudio.com/listener for privacy information.

Secretary of State Marco Rubio said Europe’s fate is intertwined with the US while faulting the continent for what he said was a drift away from their shared Western values. The double-edged message offered some reassurance to allied leaders gathered at the Munich Security Conference but did little to temper their push for more independence from Washington. “We want Europe to prosper because we’re interconnected in so many different ways, and because our alliance is so critical,” Rubio told Bloomberg News Editor-in-Chief John Micklethwait on the sidelines of the conference on Saturday. “But it has to be an alliance of allies that are capable and willing to fight for who they are and what’s important.”“What is it that binds us together? Ultimately, it’s the fact that we are both heirs to the same civilization, and it’s a great civilization,” he said. “It’s one we should be proud of.”Rubio’s comments elaborated on a speech he delivered to the event, Europe’s premier annual security gathering, earlier Saturday morning. The speech was the most anticipated of the three-day conference, with fellow leaders eager to hear if he would double down on the contemptuous tone voiced a year earlier by Vice President JD Vance at the same venue.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 Washington Correspondent Tyler Kendall. Democratic Congresswoman Debbie Wasserman Schultz. Harvard Kennedy School's Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. See omnystudio.com/listener for privacy information.