Balance of Power

Bloomberg's Lisa Abramowicz and Scarlet Fu discuss remarks from Fed Chair Kevin Warsh following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance.

Warsh vowed to restore price stability following his first policy meeting since taking the helm of the US central bank, after officials left interest rates unchanged and signaled growing support for rate hikes this year.

“Persistently high prices are a burden for the American people, but the recent past need not be prologue,” Warsh said in his debut press conference as chairman. Officials “are unambiguous and unanimous. This committee will deliver price stability.”
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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 defended the interim peace deal he’s reached with Iran and said it could get signed as soon as tomorrow, amid pushback from Republican hawks at home who object to the billions of dollars set to flow Tehran’s way.

The so-called memorandum of understanding could be signed “shortly, tomorrow, maybe the next day,” Trump said Wednesday at a press conference in France where he’s attending a summit of the Group of Seven advanced economies.

A draft seen by Bloomberg foresees the rapid reopening of the Strait of Hormuz, along with immediate sanctions waivers for Iranian oil. Talks on nuclear issues, and potential further financial gains for Iran, will follow.
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:
Republican Senator Bill Hagerty of Tennessee.
Bloomberg Washington Correspondent Tyler Kendall.
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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 is set to receive broad financial incentives as part of its agreement with the US, including the right to sell oil immediately, tap a $300 billion development fund and get eventual access to its frozen assets, according to a near-final draft of the deal.

While the contours of the memorandum of understanding have been circulating for days, the document, a copy of which was seen by Bloomberg News, offers the most complete accounting yet of the economic boost Iran is set to receive for ending its chokehold on the Strait of Hormuz and reiterating its commitment never to seek a nuclear weapon.

The two sides are set to formally sign the agreement on June 19 in Switzerland, paving the way for 60 days of talks to end their war for good and put strict new limits on Iran’s nuclear program. One person familiar with the matter said technical details were still being worked out, suggesting precise language could still change.
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.
Former Israeli Ambassador to the United States Michael Oren.
Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino.
Bloomberg Intelligence Senior Commodities Strategist Mike McGlone.
Democratic Congresswoman Jennifer McClellan of Virginia.
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A review of the reported deal between the United States and Iran, and Washington's reaction to it, led Bloomberg Intelligence's June 15 Washington Policy Pulse. We also discussed a June 12 US export-control mandate to Anthropic, which caused the company to pull its models, and how it's likely boosting the case for AI legislation. While odds of a bill passing this year are low, aggressive AI laws may damp growth for companies like Alphabet, Meta, Microsoft, and Nvidia. Other topics of discussion include the appropriations process, marijuana rescheduling and logistics in the Senate related to former SEC Chairman Jay Clayton's nomination to be the next Director of National Intelligence.
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.
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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.
The US and Iran reached an interim peace agreement to reopen the Strait of Hormuz and move further toward ending a 15-week war that’s wrought chaos across the Middle East and reverberated through the global economy.

The development caused equities and bonds to jump at the start of the week, while oil and natural gas prices — which soared with the strait’s closure — slumped.

US President Donald Trump, under pressure as rising fuel costs hit him and his Republican Party ahead of midterm elections in November, hailed a “great deal that will bring peace and security to the whole region.” He had pushed for it to be announced on Sunday, his 80th birthday. The agreement was already signed electronically by Trump, Vice President JD Vance, and Iranian Parliament Speaker Mohammad Bagher Ghalibaf.
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.
McCain Institute Executive Director Evelyn Farkas.
Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino.
Rapidan Energy Group Founder Bob McNally.
Bloomberg News Senior Editor for Technology and Strategic Industries Michael Shepard.
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