Balance of Power

Jeanine Pirro vowed to continue her investigation of Federal Reserve Chair Jerome Powell after a judge rejected subpoenas issued to the central bank, threatening to delay the confirmation of Kevin Warsh as Powell’s successor.
US District Judge James Boasberg said the government had advanced no evidence to justify the subpoenas — relating to renovations to the Fed’s headquarters and Powell’s comments about the project — and said they clearly reflected an “improper motive” of retaliating against Powell over policy differences. Pirro, who leads the US Attorney’s Office for the District of Columbia, called the ruling wrong and said they would appeal the decision.
“This process has been arbitrarily undermined by an activist judge,” Pirro said in a press conference Friday. “The process should have been allowed to run its course, and it wasn’t. And shame on them.”
For instant reaction and analysis, Bloomberg Businessweek Daily cohosts Carol Massar and Tim Stenovec speak with:
June Grasso, Bloomberg legal analyst and host of Bloomberg Law
Michael McKee, Bloomberg International Economics & Policy correspondent
Tim O'Brien, Bloomberg Opinion senior executive editor
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The US said it had further stepped up strikes on Iran as both sides in the war threatened to escalate a conflict hitting its two-week mark that has upended energy flows and financial markets.

“They’re going to be hit. They can talk all they want but, you know, let’s see what they do,” President Donald Trump told Fox News Radio in an interview that aired Friday. “They’re going to maybe do something having to do with the straits.”

The 14th day of the war marked the largest attacks yet against the Islamic Republic, with the US and Israel hitting around 15,000 targets since the war began, US Defense Secretary Pete Hegseth said.

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 Tyler Kendall is in for Kailey. Joe and Tyler speak with:
Bloomberg Economics Chief Geoeconomics Analyst Jennifer Welch.
Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and Brownstein Hyatt Farber Schreck Partner Rosemary Becchi.
Bloomberg News Senior Editor for Technology and Strategic Industries Michael Shepard.
Bloomberg Intelligence Senior US Policy Analyst Nathan Dean.
Andesite Co-Founder and CEO Brian Carbaugh.
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President Donald Trump and Iran’s new supreme leader both struck defiant tones on the 13th day of the war, offering little relief to energy markets despite fresh US efforts to curb oil prices.

The US president said in a social media post Thursday that preventing Iran from having nuclear weapons and threatening the Middle East is “of far greater interest and importance to me” than the cost of oil.

Mojtaba Khamenei said the Islamic Republic would seek to ensure the Strait of Hormuz remains effectively closed. In his first public comments since succeeding his father, he added that Tehran will look to open other fronts in the war if the US and Israel persist with their attacks.

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.
Democratic Senator Elissa Slotkin.
Maywood Strategies Principal Doug Farrar and Bluestack Strategies Founder Maura Gillespie.
Former Israeli Ambassador to the US Michael Oren.
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President Donald Trump said he didn’t believe Iran was laying mines in the Strait of Hormuz and repeated his suggestion that the war would end soon, even as the confirmation of an emergency oil release did little to calm volatile markets.

Asked Wednesday whether Iran had laid mines in the strait, Trump told reporters, “We don’t think so.” The Islamic Republic has laid about a dozen mines in the waterway, Reuters reported Wednesday, citing people familiar with the matter.

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 Senator Rand Paul.
Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino.
Former Republican Congressman Patrick McHenry.
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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 officials signaled military operations were escalating against Iran and there was little chance of diplomatic talks, throwing cold water on President Donald Trump’s suggestion that the conflict could be resolved soon.

Trump’s special envoy Steve Witkoff said the US leader is always willing to talk, while casting doubt on Iranian willingness to do so.

“It’s the same question today that we had when we were negotiating with them — do they actually want to have a diplomatic solution here,” Witkoff said in a CNBC interview on Tuesday. “So far, the evidence suggests no.”

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 Marlin Stutzman of Indiana.
Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino.
Carnegie Endowment for International Peace Senior Fellow Aaron David Miller.
Bloomberg White House Correspondent Jeff Mason.
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