Balance of Power

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. With golden carriages, military splendor and an opulent banquet, the UK’s royal gambit paid off this week, as President Donald Trump and Prime Minister Keir Starmer concluded an historic state visit by hailing the trans-Atlantic relationship and — at least publicly — smoothing over their policy differences. Appearing before reporters Thursday at the close of Trump’s two-day trip, the US president still seemed dazzled by the previous day’s events at Windsor Castle, calling it a “spectacular honor” and describing King Charles III and Queen Camilla as “amazing people.” It was exactly the kind of response UK officials had been hoping for, and Starmer played on the sentiment by repeatedly stressing the “unique bond” between the nations forged through historic ties that made them “first partners.” 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 Kriti Gupta is in for Kailey. Joe and Kriti speak with: See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. A royal carriage ride followed by an F-35 flyover greeted US President Donald Trump at Windsor Castle on Wednesday, during a historic state visit that’s set against the backdrop of heightened global and domestic tensions. The president and First Lady Melania Trump arrived by Marine One in the early afternoon to be met by King Charles III, Queen Camilla, Prince William and Princess Catherine with a royal salute. The group was quickly swept into horse-drawn carriages for a procession along a color guard-lined route to the castle. The gilded Irish Stage Coach that the king and Trump rode in is customarily rolled out for the State Opening of Parliament and was also used for the late Queen Elizabeth II’s wedding, underscoring the scope of the British charm offensive. The first lady, wearing a distinctive wide-brimmed hat in maroon, followed with the queen in a second coach. 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 Kriti Gupta is in for Kailey. Joe and Kriti speak with: See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. House Republicans unveiled a stopgap spending bill to keep the US government open past an Oct. 1 shutdown deadline, daring Democrats to vote against the measure, which does not contain health-care policies they have demanded. The short-term legislation would keep agencies operating through Nov. 21 and provide new funding for lawmaker, judicial and administration official security in the wake of the assassination of conservative activist Charlie Kirk last week. It would need the votes of at least seven Senate Democrats to meet a 60-vote threshold to overcome procedural obstacles. 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 Kriti Gupta is in for Kailey. Joe and Kriti 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 speak with Chinese leader Xi Jinping on Friday as US and Chinese officials reached a framework deal on keeping the TikTok app running in the US. It would be the first direct engagement between Trump and Xi since June. “I will be speaking to President Xi on Friday. The relationship remains a very strong one!!!,” Trump said in a post on social media Monday. Referring to a meeting of top officials between the two nations in Madrid, Trump also said that the session “has gone VERY WELL!” 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 Kriti Gupta is in for Kailey. Joe and Kriti speak with: See omnystudio.com/listener for privacy information.

The Bloomberg Intelligence Financial Washington 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. The man accused of killing of conservative activist Charlie Kirk— identified as Tyler Robinson — was arrested on suspicion of murder and weapons offenses. Robinson is being held in county jail in Utah without bail, according to court documents. He was arrested by law enforcement, after a family member alerted authorities that he had confessed, or at least implied involvement, in the killing, Utah Governor Spencer Cox said Friday. No formal charges have been filed against Robinson, but authorities in Utah said they intend to file them early next week. 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. Federal investigators have recovered what they believe is the rifle used to kill conservative activist Charlie Kirk during a campus event in Utah and released photos of a person of interest in the slaying, as the manhunt for the shooter entered its second day. The FBI on Thursday released two surveillance photos of an individual in sunglasses and a cap and asked for the public’s help in identifying the person, the agency’s Salt Lake City field office said in a post on X. The agency also offered a reward of up to $100,000 for information relating to the killing. 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. New York Governor Kathy Hochul said she’s a “staunch capitalist” opposed to higher taxes and would work to ensure New York remains attractive to businesses if democratic socialist Zohran Mamdani is elected mayor of New York City. Businesses need to know “that the city of New York, as powerful and mighty as it is, is still a subdivision of the state, so any tax increase has to come across my desk first,” Hochul said Wednesday in an interview with Bloomberg TV. Mamdani, a member of the state assembly, has said he’ll push for an increase in the state’s corporate tax rate and a new tax on millionaires to pay for an ambitious policy agenda including free bus service and universal childcare. 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 Kriti Gupta is in for Kailey. Joe and Kriti 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 was far less robust in the year through March than previously reported, adding to mounting pressure on the Federal Reserve to lower interest rates. The number of workers on payrolls will likely be revised down by a record 911,000, or 0.6%, according to the government’s preliminary benchmark revision out Tuesday. The final figures are due early next year. Before the report, the government’s payrolls data indicated employers added nearly 1.8 million total jobs in the year through March on a non-seasonally adjusted basis, or an average of 149,000 per month. The revision showed average monthly job growth was roughly half 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 Kriti Gupta is in for Kailey. Joe and Kriti speak with: See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. French Prime Minister Francois Bayrou lost a confidence motion in parliament, forcing a third change in government in just over a year and reviving uncertainty over how the country can tackle its mounting debt burden. Parties across the political spectrum in France’s lower house joined forces Monday to overwhelmingly issue the rebuke to Bayrou, who called the motion in a failed attempt to rally support for his unpopular budget reforms. Just 194 lawmakers voted in support of the prime minister and 364 voted against. President Emmanuel Macron will accept Bayrou’s resignation on Tuesday and name a new premier in the coming days, according to a statement from the president’s office. The new government will still have to find a way to pass a budget, an exercise that has now toppled the last two prime ministers. 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 Kriti Gupta is in for Kailey. Joe and Kriti speak with: See omnystudio.com/listener for privacy information.

The Bloomberg Intelligence Financial Washington 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. Disappointing employment data released Friday validated fears that the US labor market may be on the brink of a downturn and lifted expectations for how much the Federal Reserve will lower interest rates this year. Investors are now fully pricing in a quarter-point rate cut at the Fed’s Sept. 16-17 policy gathering. They also pushed closer to anticipating a total of three rate cuts this year, according to futures contracts. Some Fed watchers said the weak jobs data could spur officials to consider a larger-than-typical half-point this month, though inflation data due next week could temper those expectations. 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 Kriti Gupta is in for Kailey. Joe and Kriti speak with: 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, Bloomberg's Kriti Gupta is in for Kailey. Joe and Kriti 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 took aim at Chinese leader Xi Jinping as he hosted foreign leaders at a major military parade in Beijing, a reminder of the lingering tensions between the two sides over trade, tech and other issues. “Please give my warmest regards to Vladimir Putin, and Kim Jong Un, as you conspire against The United States of America,” Trump said on his Truth Social site, referring to the leaders of Russia and North Korea, without elaborating. 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 Xi Jinping used a mix of bonhomie and economic allure this week to send Donald Trump a clear message: Beijing has too much global clout to be dictated by the US. Cameras captured the Chinese leader in a rare, unscripted huddle on Monday with Vladimir Putin and Narendra Modi — his most powerful partners in resisting America on the world stage — at a summit in the Chinese port city of Tianjin. At one point, Xi held the hand of his Indian counterpart, as the three men laughed casually, a striking scene given just months earlier New Delhi and Beijing were seen as rivals. The images were a victory for Xi’s decade-long political project to build an alternative to the US-led world order. Hours after the trio gathered at the Shanghai Cooperation Organization event, Beijing signed a major gas pipeline deal with Moscow — rebuking Trump’s efforts to use tariffs to prise India and China away from Russian energy purchases. 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. 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. Federal Reserve Governor Lisa Cook’s lawyers suggested that an unintentional “clerical error” may have been behind the mortgage dispute over which President Donald Trump wants her fired. Cook sued Thursday to block Trump’s “illegal attempt,” saying he’s using a phony pretext that doesn’t amount to sufficient “cause” to remove her from the US central bank. In court papers, her lawyers laid out for the first time a potential defense to allegations that she fraudulently listed homes in Michigan and Georgia as a “primary residence” when she obtained mortgages in 2021. 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 trade adviser Peter Navarro cranked up pressure on India to halt its purchases of Russian oil, repeating accusations that New Delhi is funding the Kremlin’s campaign in Ukraine and casting the conflict as “Modi’s war”. Speaking immediately after the Trump administration doubled tariffs on India to 50% — an effort to secure concessions on trade, while also pressuring Russia — Navarro reiterated that Prime Minister Narendra Modi was funding “the war machine.” “I mean Modi’s war, because the road to peace runs, in part, through New Delhi,” Navarro said Wednesday on Bloomberg Television’s Balance of Power. 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 imposed a crushing 50% tariff on Indian goods to punish the country for buying Russian oil, upending a decades-long push by Washington to forge closer ties with New Delhi. The new tariffs, the highest in Asia, took effect at 12:01 a.m. in Washington on Wednesday, doubling the existing 25% duty on Indian exports. The levies will hit more than 55% of goods shipped to the US — India’s biggest market — and hurt labor-intensive industries like textiles and jewelry the most. Key exports like electronics and pharmaceuticals are exempt, sparing Apple Inc.’s massive new factory investments in India for now. The move marks a sharp deterioration in ties for the two nations and an about-turn in Washington’s strategy over the years to court India as a counterweight to China. Trump has slammed India for buying Russian oil, which he said was funding President Vladimir Putin’s war in Ukraine. New Delhi has defended its ties with Russia and has called the US’s actions “unfair, unjustified and unreasonable.” 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. Federal Reserve Governor Lisa Cook vowed to fight President Donald Trump’s move to oust her from the central bank following allegations that she falsified mortgage documents. “His attempt to fire her, based solely on a referral letter, lacks any factual or legal basis. We will be filing a lawsuit challenging this illegal action,” Cook’s lawyer, Abbe Lowell, said in a statement. Previously, Cook said she would “carry out my duties to help the American economy as I have been doing since 2022.” Cook’s challenge of Trump’s removal effort throws the future of the central bank’s board into further question after the president’s move Monday night, which represented a dramatic escalation in his battle for more control over monetary policy. 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 and South Korean President Lee Jae Myung expressed optimism for close cooperation on North Korea, collective security and shipbuilding, though the US leader downplayed the chances for further concessions on Seoul’s tariff deal. “We can do big progress with North Korea,” Trump said at the White House on Monday alongside Lee. The South Korean leader launched a charm offensive on Trump, praising stock-market gains, the gold finishes he added to the Oval Office and his peacekeeping efforts, and asked him to focus on ending tensions on the Korean peninsula. Lee even suggested that Trump could construct an eponymous tower in North Korea if peace is made. Still, Trump indicated that the agreement for a 15% tariff on South Korean imports would likely stick as-is, as they hash out unresolved details on the deal. “I hear they want to renegotiate the deal, but that’s OK, I don’t mind that. That doesn’t mean they’re going to get anything, but I don’t mind,” the US president said. On this edition of Balance of Power, Joe speaks with: See omnystudio.com/listener for privacy information.