Balance of Power

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 claimed the US had “total control over the Hormuz Strait,” as Washington and Tehran hardened their positions in deadlocked negotiations over the critical waterway.

“We own it,” Trump told reporters at Joint Base Andrews outside Washington late Tuesday, an assertion Iran has dispelled via intermittent attacks on ships transiting the passage. “At some point, maybe they’ll do something, and then they get blown away.”

Trump has oscillated for months between threatening to resume attacks on Iran and expressing confidence that talks to bring an end to America’s war with the Islamic Republic are progressing. His latest comments came after Pakistan’s defense minister, Khawaja Asif, told Bloomberg in Islamabad that the two sides are “close to some sort of arrangement” over Hormuz, a key sticking point.
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 Republican Congressman Patrick McHenry of North Carolina.
Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino.
Bloomberg Markets Live Blog Managing Editor Kristine Aquino.
CIBC Private Wealth Senior Energy Trader Rebecca Babin.
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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.
Moderate Democrat David Crowley defeated Democratic Socialist Francesca Hong in Wisconsin’s primary for governor, an upset in a race that had become a test of the party’s ideological direction.

Crowley had 39.8% of the vote to Hong’s 39.3%, with 99% of the expected vote counted, according to the AP. Decision Desk HQ also called the race for Crowley.

Crowley’s projected victory puts a check on recent momentum for the Democratic Party’s progressive wing, a week after Abdul El-Sayed defeated an establishment-backed candidate in Michigan’s primary for US Senate. But the close margin also showed the power of the party’s left flank, with Hong coming within reach of leading the ticket in a key battleground state.
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.
Republican Congressman Bryan Steil of Wisconsin.
Stonecourt Capital Partner Rick Davis and Rebelle Communications CEO Laura Fink.
Arbroath Group Managing Partner Christopher Smart.
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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.
Pakistan’s defense minister said the US and Iran are “close to some sort of arrangement” over the Strait of Hormuz, even after both sides appeared to toughened their positions in the long-deadlocked negotiations.

“Things are shaping up in favor of peace,” Khawaja Asif told reporters in Islamabad on Tuesday, without giving details of any breakthrough. Pakistan’s Interior Minister Mohsin Naqvi will shortly arrive in Tehran to hold talks with his Iranian counterpart, the Islamic Republic’s semi-official Fars agency reported.

Talks between Iran and Oman about reopening Hormuz to some maritime shipping have reached an advanced stage, Al Jazeera reported earlier, citing a Qatari Foreign Ministry spokesperson. Pakistan has been mediating the conflict, alongside Qatar.
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 White House Director of Legislative Affairs during the first Trump administration Marc Short.
Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino.
Ipsos US Public Affairs Chair Cliff Young.
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With Congress now in August recess, President Donald Trump and Congress have a long list of items that may see action before the midterm elections. Yet with only a handful of days in September when both chambers are in action, many of the initiatives could prove to be no more than headline risks and opportunities for companies and sectors.
On Bloomberg Intelligence's August 10 Washington Policy Pulse, we discussed how a Senate continuing resolution to keep the government open until Dec. 11 -- which includes an extension of the Highway Authorization bill -- will likely be adopted, staving off, but not stopping a $580 billion highway package key for Vulcan, CRH and Marietta. We also looked what fares next for the CLARTY Act and Coinbase and Robinhood after it failed to pass the Senate before recess. Finally, we updated clients on the outlook for the farm bill, defense spending, and a bill that would allow President Donald Trump to place tariffs on countries that purchase oil from Russia.
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
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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.
US President Donald Trump signaled he’s prepared to let economic pressure on Iran build rather than launch fresh military strikes to force a reopening of the Strait of Hormuz, even as the Islamic Republic reiterated that the conditions still aren’t in place to allow free passage through the key waterway.

“We are just watching Iran with its huge inflation and the fact they have no money,” Trump told Axios in an interview on Sunday, saying that a US naval blockade of the country was deepening its financial woes. “We are low-keying it.”

The president’s comments mark a shift from his repeated threats to escalate the bombing campaign against Iran and come amid lingering talks between Tehran and Oman to reopen Hormuz. Iran has said it’s nearing a deal, while laying out a list of demands for Washington to meet before shipping can resume — including the lifting of sanctions.
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 Correspondent Josh Wingrove.
Democratic Congresswoman Suzan DelBene of Washington, Chair of the Democratic Congressional Campaign Committee.
Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino.
Bloomberg Intelligence Senior Commodities Strategist Mike McGlone.
Princeton University Professor of Near Eastern Studies Bernard Haykel.
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