Balance of Power

An update on Congressional plans -- or the lack thereof -- to extend Obamacare subsidies led Bloomberg Intelligence's Washington Policy Pulse on Dec 8. While the Senate is expected to vote on a deal to extend the subsidies for 3-years, political partisanship remains and deals will be difficult to achieve. We also previewed what Bloomberg News reports to be a $12 billion aid package for farmers, which the White House is expected to roll out today. Other topics of discussion also include a discussion of our 2026 crypto policy outlook, with a focus on forthcoming stablecoin and crypto rules key for firms like Coinbase, Robinhood, Circle and Bullish. 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 D.C. 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#/registration See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Senate Republicans plan to vote this week on a likely futile plan to counter Democrats’ push to extend expiring Obamacare subsidies as health care costs for more than 20 million people are set to spike on Jan. 1. Neither the Republican legislation announced Tuesday nor Democrats’ proposed three-year extension are expected to get the 60 votes needed for Senate passage. For some Americans, health insurance premiums will double or triple in the new year as the Covid-era tax credits expire. 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: See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. The Trump administration on Monday plans to unveil a long-awaited farm aid package, according Trump administration officials, offering $12 billion in assistance to a key base of support hit hard by low crop prices and the impact of the president’s tariff policies. The aid will include up to $11 billion in one-time payments to crop farmers under the Department of Agriculture’s newly designed Farmer Bridge Assistance program, while the remaining is reserved for crops not covered under the FBA, according to one of the officials, who asked not to be identified as the information isn’t public. 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: See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Speaker Mike Johnson is pushing to unveil a Republican health care bill in the coming days for a vote by the end of the month, but the move is unlikely to resolve a congressional deadlock over expiring Obamacare subsidies. The GOP plan is likely to include ideas the party has floated in the past to create less comprehensive plans to compete with Obamacare and to divert premium tax credits for the insurance policies toward tax-sheltered savings accounts individuals can use to cover non-premium out-of-pocket costs. 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: See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Defense Secretary Pete Hegseth exposed sensitive information when he sent details of a pending military strike from his personal phone, according to a Pentagon watchdog investigation into the “Signalgate” saga that gripped the White House earlier this year. The Pentagon inspector general determined that Hegseth had the authority to declassify the information he’d sent — which was originally labeled “secret” — but that his use of a personal cell phone risked compromising sensitive information about the upcoming attack on Houthi rebels in Yemen, it said in a report released Thursday. “If this information had fallen into the hands of US adversaries, Houthi forces might have been able to counter U.S. forces or reposition personnel and assets to avoid planned US strikes,” the report said. Hegseth sent the information two to four hours before the operation took place, it said. 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: See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Defense Secretary Pete Hegseth said he wasn’t watching when a top US admiral ordered a second strike on an alleged drug-running boat on Sept. 2. Hegseth says that commander made the right call. “As you can imagine, at the Department of War, we got a lot of things to do, so I didn’t stick around for the hour and two hours, whatever, where all the sensitive site exploitation digitally occurs,” Hegseth said at the White House on Tuesday. 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: See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Vladimir Putin began talks at the Kremlin with US envoys Steve Witkoff and Jared Kushner on the latest plans aimed at ending Russia’s war in Ukraine. The Russian president, who was joined by his foreign-policy aide Yuri Ushakov and Kremlin envoy Kirill Dmitriev, said in comments shown on state television that he was pleased to see the Americans. Witkoff praised Moscow as a “magnificent city” after Putin asked whether they’d been on a walk around the capital before the talks. 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: See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump said Sunday that people shouldn’t read much into a social media post where he said Venezuelan airspace should be considered closed. His post from Saturday morning, addressed to airlines and “Drug Dealers,” added to jitters in the region about possible US strikes on Venezuelan territory. “Don’t read anything into it,” he told reporters Sunday aboard Air Force One. He added, “We consider Venezuela to be not a very friendly country.” 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: See omnystudio.com/listener for privacy information.

An update of President Donald Trump's selection process for Federal Reserve Chairman -- Bloomberg News reports National Economic Council Director Kevin Hassett has emerged as a front runner -- as well as an update on de-regulation for bank capital rules impacting banks like Bank of America, Goldman Sachs and JPMorgan -- led Bloomberg Intelligence's Washington Policy Pulse on Dec 1. We also previewed a House hearing this week where regulators should provide an update on bank capital plans. We also gave an update on the latest for the National Defense Authorization Act, as well as other appropriations bills, and their chances of passage before the end of the year. 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 D.C. 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#/registration See omnystudio.com/listener for privacy information.

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: See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. White House National Economic Council Director Kevin Hassett is seen by advisers and allies of President Donald Trump as the frontrunner to be the next Federal Reserve chair, according to people familiar with the matter, as the search for a new central bank leader enters its final weeks. With Hassett, Trump would have a close ally whom the president knows well and trusts installed at the independent central bank, the people said, speaking on the condition of anonymity. Hassett is seen as someone who would bring the president’s approach to interest-rate cutting to the Fed, which Trump has long wanted to control, some of the people said. 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: See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. US President Donald Trump and Chinese President Xi Jinping on Monday held their first talks since agreeing to a tariff truce last month, discussing trade, Taiwan and Russia’s invasion of Ukraine. Trump said the telephone call was “very good” and that the leaders spoke about purchases of soybeans and other farm products as well as curbing shipments of illegal fentanyl. The US president said he agreed to visit Beijing in April, and that he had invited Xi for a state visit next year. “Our relationship with China is extremely strong!” Trump posted on social media. “There has been significant progress on both sides in keeping our agreements current and accurate. Now we can set our sights on the big picture.” 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: See omnystudio.com/listener for privacy information.

A discussion of a reported forthcoming plan from the White House to extend Obamacare subsidies -- potentially as long as two years -- led Bloomberg Intelligence's Washington Policy Pulse on Nov. 24. Such an extension, if enacted, could bode well for insueres such as Centene and UnitedHealth. We also previewed a meeting at the FDIC -- to be held on Nov. 25 -- that will see that regulator finalize a leverage ratio rule for banks like Bank of America, Morgan Stanley and Goldman Sachs. Finally, we highlighted a forthcoming executive order on artificial intelligence that, in our view, may face certain a court challenge. 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 D.C. 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#/registration See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Donald Trump and New York City Mayor-elect Zohran Mamdani are set to meet at the White House on Friday. The meeting marks the first time the two leaders will come together to discuss how they can work with each other since the election earlier this month. Mamdani was elected as mayor of New York City after campaigning on a progressive platform that includes freezing the rent on more than 1 million stabilized apartments, providing universal child care, funding free buses and operating city-owned grocery stores. Mamdani, a democratic socialist, is seeking higher taxes on corporations and the wealthy to pay for his agenda. 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, Bloomberg's Michelle Jamrisko is in for Kailey. Joe and Michelle speak with: See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. US job growth topped expectations in September but the unemployment rate continued its march higher, underscoring the lingering fragility of the labor market. The Bureau of Statistic’s latest jobs report, long delayed due to the government shutdown, showed nonfarm payrolls rose 119,000 in the month after declining in August. The unemployment rate, meanwhile, rose to its highest level in nearly four years — reflecting both the positive dynamic of more Americans participating in the workforce and the gloomier reality of more people losing their jobs. 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, Bloomberg's Michelle Jamrisko is in for Kailey. Joe and Michelle speak with: See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump said he would formally designate Saudi Arabia as a major non-NATO ally in a further strengthening of ties between the two countries, capping a day of dealmaking between the US leader and the kingdom’s Crown Prince Mohammed bin Salman. “I’m pleased to announce that we’re taking our military cooperation to even greater heights,” Trump said at a White House dinner in honor of the 40-year-old royal. This is “something that is very important to them,” he added. 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, Bloomberg's Michelle Jamrisko is in for Kailey. Joe and Michelle speak with: See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. US President Donald Trump said Saudi Arabia’s Crown Prince Mohammed bin Salman “knew nothing about” the murder of Washington Post columnist Jamal Khashoggi, as the pair met to announce a deepening of economic ties at the White House. “A lot of people didn’t like that gentleman that you’re talking about,” Trump said when asked about Khashoggi alongside the Saudi prince in the Oval Office. “Whether you like him or didn’t like him, things happen, but he knew nothing about it, and we can leave it at 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, Bloomberg's Michelle Jamrisko is in for Kailey. Joe and Michelle speak with: See omnystudio.com/listener for privacy information.

A preview of what a final leverage ratio rule -- which we think will be released before the end of the year -- led Bloomberg Intelligence's Washington Policy Pulse on Nov. 17. The change will likely cut Tier 1 capital for banks like Morgan Stanley, Goldman Sachs and Bank of America. We also discussed chances of a crypto bill passing in 4Q -- key for platforms like Coinbase and Robinhood. We also discussed the potential for $13 billion of aid for US farmers as well as a status update on the National Defense Authorization Act. 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 D.C. 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#/registration See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump said House Republicans should vote to require the Justice Department to release its files on Jeffrey Epstein, effectively reversing a position he’d held for months. “House Republicans should vote to release the Epstein files, because we have nothing to hide, and it’s time to move on,” Trump posted Sunday on social media as he returned to the White House from a weekend in Florida. “The House Oversight Committee can have whatever they are legally entitled to, I DON’T CARE!” Trump has been under increasing pressure from some within his party to release the investigative materials on the disgraced financier, who ran an underage sex ring and died in prison 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, Bloomberg's Michelle Jamrisko is in for Kailey. Joe and Michelle speak with: See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump is slated to sign an order on Friday reducing tariffs on beef, tomatoes, coffee and bananas, according to a White House official, a move aimed at lowering costs on groceries as the administration faces pressure from voters to cut prices on everyday goods. The exemptions would reduce trade levies on the commodities, which can’t be produced in the US in sufficient quantity to meet domestic demand. The exact scope of the tariff reduction, how many total goods are included and how widely it would apply, were not immediately clear. The move comes as Trump has pivoted to focusing on affordability measures as voters are growing increasingly wary of the economy under his leadership. It is also a tacit acknowledgment that the president’s tariff policies have added to price pressures on US consumers. 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, Bloomberg's Tyler Kendall is in for Kailey. Joe and Tyler speak with: See omnystudio.com/listener for privacy information.