Balance of Power

Jeanine Pirro vowed to continue her investigation of Federal Reserve Chair Jerome Powell after a judge rejected subpoenas issued to the central bank, threatening to delay the confirmation of Kevin Warsh as Powell’s successor. US District Judge James Boasberg said the government had advanced no evidence to justify the subpoenas — relating to renovations to the Fed’s headquarters and Powell’s comments about the project — and said they clearly reflected an “improper motive” of retaliating against Powell over policy differences. Pirro, who leads the US Attorney’s Office for the District of Columbia, called the ruling wrong and said they would appeal the decision. “This process has been arbitrarily undermined by an activist judge,” Pirro said in a press conference Friday. “The process should have been allowed to run its course, and it wasn’t. And shame on them.” For instant reaction and analysis, Bloomberg Businessweek Daily cohosts Carol Massar and Tim Stenovec speak with: 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 said it had further stepped up strikes on Iran as both sides in the war threatened to escalate a conflict hitting its two-week mark that has upended energy flows and financial markets. “They’re going to be hit. They can talk all they want but, you know, let’s see what they do,” President Donald Trump told Fox News Radio in an interview that aired Friday. “They’re going to maybe do something having to do with the straits.” The 14th day of the war marked the largest attacks yet against the Islamic Republic, with the US and Israel hitting around 15,000 targets since the war began, US Defense Secretary Pete Hegseth 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, Bloomberg's Tyler Kendall is in for Kailey. Joe and Tyler speak with: 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 and Iran’s new supreme leader both struck defiant tones on the 13th day of the war, offering little relief to energy markets despite fresh US efforts to curb oil prices. The US president said in a social media post Thursday that preventing Iran from having nuclear weapons and threatening the Middle East is “of far greater interest and importance to me” than the cost of oil. Mojtaba Khamenei said the Islamic Republic would seek to ensure the Strait of Hormuz remains effectively closed. In his first public comments since succeeding his father, he added that Tehran will look to open other fronts in the war if the US and Israel persist with their attacks. 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: 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 didn’t believe Iran was laying mines in the Strait of Hormuz and repeated his suggestion that the war would end soon, even as the confirmation of an emergency oil release did little to calm volatile markets. Asked Wednesday whether Iran had laid mines in the strait, Trump told reporters, “We don’t think so.” The Islamic Republic has laid about a dozen mines in the waterway, Reuters reported Wednesday, citing people familiar with the matter. 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: 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 officials signaled military operations were escalating against Iran and there was little chance of diplomatic talks, throwing cold water on President Donald Trump’s suggestion that the conflict could be resolved soon. Trump’s special envoy Steve Witkoff said the US leader is always willing to talk, while casting doubt on Iranian willingness to do so. “It’s the same question today that we had when we were negotiating with them — do they actually want to have a diplomatic solution here,” Witkoff said in a CNBC interview on Tuesday. “So far, the evidence suggests no.” 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: See omnystudio.com/listener for privacy information.

A preview of the House Republican annual retreat starting on March 9 led the March 9 edition of Bloomberg Intelligence’s Washington Policy Pulse. Republicans are expected to discuss the next steps on an Iran supplemental defense bill as well as chances for another reconciliation bill -- potentially tied to health care, taxes and tariffs. We also discussed the likelihood of the DHS shutdown ending next week as well as a Congressional update views towards the US-Iran conflict. We also previewed several of the key races to watch in the US midterm elections. 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#/registration 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 confronted mounting pressures on the 10th day of the Iran war as oil prices surged past $100 and the Islamic Republic announced the hardline son of the assassinated Ayatollah Ali Khamenei as its new supreme leader. Oil pared some gains Monday as the world’s largest economies considered a coordinated release of emergency oil stockpiles. Turmoil in weekend trading saw prices top $118 a barrel. The Strait of Hormuz remained all but closed, with no finalized plans on how nations will safeguard ships passing through the key waterway. 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: 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 demanded Iran surrender as the war on the Islamic Republic raged for a seventh day, with the impact reverberating across global supply chains and energy markets. Washington won’t negotiate an end to the conflict and will only accept “UNCONDITIONAL SURRENDER!” Trump wrote on Truth Social on Friday, raising fears of a protracted conflict. The US and its allies plan to select a “GREAT & ACCEPTABLE Leader(s),” he said. US crude futures hit $90 a barrel and Brent crude neared $95 a barrel for the first time in almost two years during the session, with traders warning $100 could be on the horizon sooner rather than later. US oil is on track for the biggest weekly percentage gain in at least two decades. 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.

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: 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: 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: 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: 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#/registration See 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/id1878739308 Subscribe on Spotify: https://open.spotify.com/show/5DQ8CEg9LeS1xGJSaxt47l See 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: 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: 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: 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: 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: See omnystudio.com/listener for privacy information.