Balance of Power

• Schumer Retreats on Shutdown Threat

  Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Senate Democratic leader Chuck Schumer had two choices as the clock ticked down to the government funding deadline: drop his threat to block the Republican bill or force a disruptive March 15 shutdown. The New York lawmaker ultimately opted for the path of least resistance Thursday after a day of contentious meetings among minority Democrats, who had hoped to use their limited leverage on a spending package to include some restraints on Elon Musk’s DOGE’s cost-cutting crusade.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 Government Congress Reporter Jack Fitzpatrick as the Senate readies a vote on a stopgap spending deal to avoid a government shutdown. Republican Congresswoman Nicole Malliotakis of New York about the work in the upper chamber and negotiations with the Senate on a new tax bill. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino as Senator Chuck Schumer says he will now vote in favorite of the Republican-backed continuing resolution. Former US Ambassador to NATO Kay Bailey Hutchison about the push for a ceasefire between Ukraine and Russia. Democratic Strategist Kevin Walling and Republican Strategist Alex Stroman about the state of both political parties and finding common ground across the aisle. See omnystudio.com/listener for privacy information.

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• Trump Meets With NATO's Rutte at the White House

  Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump threatened to impose a 200% tariff on wine, champagne and other alcoholic beverages from France and elsewhere in the European Union, the latest escalation in the brewing transatlantic trade war. In a social media post today, Trump said he would move forward with the import duties if Brussels follows through with a tax on American whiskey exports. 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 Chief Geoeconomics Analyst Jennifer Welch as NATO Secretary General Mark Rutte and President Donald Trump meet in the Oval Office. Chief Policy and Strategy Officer at the DC Fiscal Policy Institute Tazra Mitchell about the impact of the budget passed in the House of Representatives on the city. Bloomberg Politics Contributor Jeanne Sheehan Zaino and BGR Group's Lester Munson after Senate Democratic leader Chuck Schumer said his party will not support the GOP's plan to avert a government shutdown. Bloomberg's Saleha Mohsin interviews former US Treasury Secretary Steven Mnuchin about the state of the US economy, Trump's tariff policy and DOGE's actions at the Department of the Treasury. See omnystudio.com/listener for privacy information.

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  49:54
• Stocks Rise After CPI Surprise

  Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Cooler-than-forecast February inflation pushed stocks higher after two days of heavy losses. A kneejerk rally in bonds quickly reversed and yields rose across the curve amid concerns over an escalating trade war.Equities advanced after a selloff that put the S&P 500 on the verge of a technical correction. The bounce was led by tech megacaps, which got heavily hit during the recent market meltdown. While the surprise slowdown in consumer prices brought relief to traders, several voices on Wall Street saw the data as the “calm before the storm” given all the uncertainties around the potential impacts of tariffs on the economy.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: Co-Host of the Bloomberg "Odd Lots" Podcast Joe Weisenthal about the latest US inflation data and the state of markets following a volatile start to the week. Senior Vice President at Boundary Stone Partners Emily Domenech about the latest developments from negotiations between the US, Ukraine and Russia over a ceasefire. Former Supreme Allied Commander for Europe Gen. Wesley Clark (Ret.) as President Donald Trump told reporters in the Oval Office Wednesday that he hoped it wouldn’t be necessary to pressure Russian President Vladimir Putin into accepting a ceasefire deal with Ukraine. See omnystudio.com/listener for privacy information.

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  32:49
• Trump Threatens Further Tariffs on Canada

  Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump said he was reevaluating plans to double steel and aluminum tariffs on Canada to 50% after Ontario announced it would suspend a 25% surcharge on electricity sent to the US.“I’m looking at that, but probably so,” Trump told reporters Tuesday when asked if the de-escalation would lead him to back down on his tariff threat. “I’ll let you know about it.”Trump’s comments appeared to calm a brief but dramatic volley in the widening trade war between the US and Canada that has rocked markets and hung a cloud of uncertainty across major North American industries.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 Politics Editor Laura Davison as President Donald Trump prepares to speak to the Business Roundtable Tuesday night. Managing Director and Chief Economist for SMBC Nikko Securities America and former Chief Economist at the National Economic Council under Donald Trump Joe Lavorgna as angst grows on Wall Street over Trump's tariff plans. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino as Congress looks to avert a government shutdown at the end of the week. Bloomberg Senior Editor Michael Regan as the S&P 500 Index’s three-week selloff briefly reached 10% before a late rally pared much of the drop. Distinguished Professor at the University of Virginia's Miller Center Mara Rudman as US and Ukrainian officials meet in Saudi Arabia. See omnystudio.com/listener for privacy information.

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  41:57
• Trump Says US Economy Faces ‘Transition’

  Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump said the US economy faces “a period of transition,” deflecting concerns about the risks of a slowdown as his early focus on tariffs and federal job cuts causes market turmoil.Asked on Fox News’ Sunday Morning Futures whether he’s expecting a recession this year, Trump said, “I hate to predict things like that. There is a period of transition, because what we’re doing is very big.”While declining to address the question, Trump’s response broadly aligns with his speech to Congress last week and a flurry of recent comments from top administration officials, including Treasury Secretary Scott Bessent. At the core of the Trump team’s argument is the prospect of tax cuts and tariff revenue down the road that officials contend will spur the economy.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 Politics Contributor Rick Davis and Jeanne Sheehan Zaino following President Donald Trump's comments Sunday that the US economy faces a transition. Republican Congressman Chuck Fleischmann of Tennessee as House Speaker Mike Johnson unveils a stopgap spending plan to avoid a government shutdown. Bloomberg News Canada Government Reporter Brian Platt about the next Prime Minister of Canada. Democratic Congressman Don Beyer of Virginia on the bill he introduced to restore tariff authority to Congress. See omnystudio.com/listener for privacy information.

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