Balance of Power

Mary Lovely, a Senior Fellow at the Peterson Institute for International Economics, discusses the implications of the recent tariff truce between Trump and Xi, including rare earths and soybean purchases. U.S. Representative Jake Auchincloss shares insights on the government shutdown and its effects on the FAA, stressing the importance of airport staffing. The conversation also touches on energy policy, highlighting the need for a diverse clean energy mix to support growth while managing security risks around AI chip exports.

Shelley Moore Capito, a U.S. Senator from West Virginia, discusses the critical role of SNAP benefits in the looming government shutdown and supports new funding measures. Chuck Fleischmann, a Congressman from Tennessee, highlights the impact of the shutdown on federal workers and essential services. Both guests explore the contentious energy policies, including the potential of nuclear energy and SMRs to address data center energy needs. Their insights reveal the complexities of bipartisan negotiations in a time of urgency.

Matthew Whitaker, U.S. Ambassador to NATO and former acting U.S. Attorney General, weighs in on defense spending and NATO's future amidst global tensions. He highlights the U.S.-Japan alliance and the push for allies to increase defense spending to 5% of GDP. Congressman Greg Murphy shares insights on the ongoing government shutdown, emphasizing the impact on federal workers and the debates around health care costs. Both guests stress the importance of bipartisan cooperation to address pressing economic and security challenges.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.A meeting Thursday between Presidents Donald Trump and Xi Jinping is set to be one of the key diplomatic events of the year, with the US-China economic relationship at stake following multiple rounds of escalating tensions and temporary truces.Trump told traveling reporters Monday on Air Force One that while nothing has yet been agreed, he felt good going into the meeting with Xi set to take place on the sidelines of the Asia-Pacific Economic Cooperation summit in South Korea.US Treasury Secretary Scott Bessent, speaking in the same briefing, said a framework for Trump and Xi to finalize was forged over weekend talks with China, whose delegation was headed by Vice Premier He Lifeng.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 David Gura is in for Joe and Kailey. David speaks with: Bloomberg Washington Correspondent Tyler Kendall. Former Acting White House Chief of Staff Mick Mulvaney. Harvard Kennedy School's Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and Bluestack Strategies Founder Maura Gillespie. Bloomberg Buenos Aires Bureau Chief Patrick Gillespie. Wiley Rein National Security Practice Group Lead Nazak Nikakhtar. See omnystudio.com/listener for privacy information.

A status update on proposals from the Federal Reserve -- such as the rule known as the Basel III endgame to another one on a banks' G-SIB -- led Bloomberg Intelligence's Washington Policy Pulse on Oct. 27. While Bloomberg News reports that the Fed may increase capital requirements 3%-7% via the Basel III endgame, other actions could ultimately negate that impact for banks like Bank of America, JPMorgan and Goldman Sachs. We also discussed news reports that Treasury Secretary has narrowed down a list of potential Fed chairs to five individuals as well as an upcoming Senate vote on a resolution disapproving President Donald Trump's Canada and Brazil tariffs. It should be noted that move is largely symbolic.  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 D.C. 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#/registrationSee omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.A delayed snapshot of inflation in September came in softer than expected, potentially offering a path for the Federal Reserve to cut interest rates beyond next week’s meeting.The core consumer price index, excluding the often volatile food and energy categories, increased 0.2% from August, according to Bureau of Labor Statistics data out Friday. That was the slowest pace in three months and restrained by the smallest increase in a key measure of housing costs since early 2021.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 International Economics and Policy Correspondent Michael McKee. Republican Congressman Mark Alford of Missouri. Lexington Institute Vice President Rebecca Grant. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School's Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Eric Adams will endorse Andrew Cuomo for New York City mayor, a reversal for the incumbent mayor after he accused his former challenger of being a “snake and a liar” just weeks ago in the contentious battle for Gracie Mansion.The endorsement, part of an effort to bolster Cuomo’s campaign against frontrunner Zohran Mamdani, comes less than two weeks before the November election. Adams and Cuomo were seen together court-side at the Knicks game Wednesday night following the final mayoral debate. The endorsement was reported earlier by the New York Times.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 Correspondent David Gura. Stonecourt Capital Partner Rick Davis and Bully Pulpit International Managing Director Adam Hodge. Bloomberg Intelligence Senior Commodity Strategist Mike McGlone. Former US Ambassador James Jeffrey. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Members of the ultra-conservative House Freedom Caucus and at least one influential Republican chairman are pushing for a long-term stopgap spending bill as part of their strategy to end the ongoing US government shutdown. Their push runs counter to comments from House Speaker Mike Johnson and members of the powerful appropriations committee, who have said they want to negotiate individual spending bills for fiscal year that started Oct. 1. That would likely require another short-term bill to grant lawmakers enough time to finalize the comprehensive legislation.Republicans remain united behind a short-term bill to fund the government until Nov. 21 — a plan that Democrats have repeatedly blocked in the Senate. But GOP lawmakers acknowledge that deadline is rapidly approaching and quickly need to develop a new plan to fund the government past that date.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: Alliance for Competitive Taxation Spokesman Kevin Brady. House Ways and Means Committee Chairman Jason Smith. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School's Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.US Vice President JD Vance said he remains optimistic about the future of a ceasefire between Israel and Hamas despite a flareup in violence over the weekend, part of a bid to keep talks progressing on the future of Gaza.Vance spoke Tuesday at the base of a multinational monitoring force near Gaza. He traveled to the region about a week after President Donald Trump unveiled a US-led agreement to end the two-year war between Israel and Hamas, starting with a truce and exchange of Hamas’s last living hostages for almost 2,000 Palestinian prisoners. “There are going to be hills and valleys,” Vance said, flanked by Trump’s son-in-law Jared Kushner and presidential envoy Steve Witkoff. “There are going to be moments where it looks like things aren’t going particularly well. But given that, and given the history of conflict, I think that everybody should be proud of where we are today.”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 National Security Team Lead Nick Wadhams. Center for Strategic and International Studies Non-Resident Senior Associate Natasha Hall. Harvard Kennedy School's Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and Bluestack Strategies Founder Maura Gillespie. Republican Congressman Bryan Steil of Wisconsin. Bloomberg News Economic Statecraft Reporter Joe Deaux. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump listed rare earths, fentanyl, soybeans and Taiwan as the US’s top issues with China, underlining the divisive topics the two sides plan to tackle at the negotiating table as a fragile trade truce nears its expiration.“I don’t want them to play the rare earth game with us,” Trump said on Air Force One on Sunday as he headed back to Washington from Florida. Days earlier, the US leader threatened an additional 100% tariff on Chinese products after Beijing vowed to exert broad controls on the minerals.Trump also said the US wanted China “to stop with the fentanyl,” a reference to his accusation that the Chinese government has failed to curb exports of the drug and its precursor chemicals, contributing to the American opioid crisis. Another key demand was for the world’s No. 2 economy to resume soybean purchases.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 Senior Editor Wendy Benjaminson. Rapidan Energy Group President Bob McNally. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School's Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. Bloomberg National Security Reporter Courtney McBride. Atlantic Council Non-Resident Senior Fellow Melinda Haring. See omnystudio.com/listener for privacy information.