Balance of Power

An update of reports that the US and Iran are engaged in indirect negotiations over the conflict -- as well as the outlook for a potential $200 billion supplemental defense package -- led Bloomberg Intelligence's Washington Policy Pulse on March 23. While a defense package would benefit contractors like Lockheed Martin, we expect Congress to slow walk any ask. We also discussed forthcoming legislation seeking to ban prediction markets, as well as the Fed's recent Basel III endgame rule, which we expect will lower capital requirements for banks like JPMorgan and Bank of America. Finally, we reviewed the White House's policy framework on artificial intelligence.

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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 postpone strikes against Iran’s energy infrastructure after what he called “productive conversations” with the country, in comments that spurred confusion over the participants in the talks and parameters of a deal.

Trump told reporters on Monday that he was holding off on striking Iranian energy infrastructure for five days, citing “major points of agreement” with Iran. Trump said special envoys Steve Witkoff and Jared Kushner had discussions Sunday into the evening with a “top person” on the Iranian side, claiming both parties were keen to “make a deal” and would talk again Monday by phone.

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 and Washington Correspondent Jeff Mason.
Aspen Strategy Group Executive Director Anja Manuel.
Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino.
Former Congresswoman Jane Harman.
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Stocks and bonds rebounded after President Donald Trump said the US and Iran had “very good” conversations about an end to the conflict in the Middle East.
President rump said strikes against Iranian energy infrastructure and power plants would be postponed for five days following the start of talks with Iran to end the war.
For details on this development, Tom Keene and Paul Sweeney speak with Bloomberg Middle East Reporter Joumanna Bercetche, Silvercrest Asset Management Head of Investment Policy & Strategy Robert Teeter, and Veda Partners Co-Founder Henrietta Treyz.
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Insight & analysis on the White House and Capitol Hill.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

Iranian officials have become reluctant to even discuss reopening the Strait of Hormuz as they focus on surviving the US-Israeli onslaught, according to a person involved in direct, high-level contacts with Tehran.

Energy infrastructure attacks and strikes on high-profile Iranian officials, including the recent killing of security chief Ali Larijani, mark an escalation that is slowing attempts to get commercial ships moving again, the person added, speaking anonymously to discuss private talks.

Oil prices extended gains sharply on the news. Brent crude prices jumped back above $110 a barrel and the most active US crude futures price climbed more than 2.5% to trade above $98 a barrel by 1:20 pm ET.

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.
Arbroath Group Managing Partner Christopher Smart.
Bloomberg Wall Street Week Host David Westin.
Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and Bluestack Strategies Founder Maura Gillespie.
Bloomberg Television Markets Correspondent Norah Mulinda.
Cohen Group Senior Advisor Jen Gavito.
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Insight & analysis on the White House and Capitol Hill.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

Iran stepped up its assault on key oil and gas infrastructure across the Middle East, defying US President Donald Trump’s calls for restraint and triggering a fresh surge in energy prices that have highlighted the cost of the ever-widening conflict.

The Islamic Republic targeted sites in countries including Saudi Arabia, Qatar and the United Arab Emirates with a wave of drone and missile attacks on Thursday, a retaliation for Israel’s assault on Iran’s giant South Pars gas field the previous day.

The sharp escalation, with the bombing of more energy facilities from both sides, threatened to draw in both Gulf and European powers and exposed tensions between the US and Israel — with Trump himself rebuking his ally.

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 Intelligence Senior Commodities Strategist Mike McGlone.
Democratic Congresswoman Sam Liccardo of California.
Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino.
Former US Ambassador to NATO Kurt Volker.
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