Balance of Power

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Disappointing employment data released Friday validated fears that the US labor market may be on the brink of a downturn and lifted expectations for how much the Federal Reserve will lower interest rates this year.Investors are now fully pricing in a quarter-point rate cut at the Fed’s Sept. 16-17 policy gathering. They also pushed closer to anticipating a total of three rate cuts this year, according to futures contracts. Some Fed watchers said the weak jobs data could spur officials to consider a larger-than-typical half-point this month, though inflation data due next week could temper those expectations.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 Kriti Gupta is in for Kailey. Joe and Kriti speak with: Bloomberg Economics Chief US Economist Anna Wong. House Ways and Means Committee Chairman Jason Smith (R-MO). Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Bloomberg International Economics and Policy Correspondent Michael McKee and Chicago Fed President Austan Goolsbee. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.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 Kriti Gupta is in for Kailey. Joe and Kriti speak with: Bloomberg International Policy and Economics Correspondent Michael McKee. New Century Advisors Chief Economist Claudia Sahm. Bloomberg Health Reporter Jessica Nix. Chair and Professor at Rutgers University's Department of Urban-Global Public Health Leslie Kantor. Circa Sports CEO Derek Stevens.  See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump took aim at Chinese leader Xi Jinping as he hosted foreign leaders at a major military parade in Beijing, a reminder of the lingering tensions between the two sides over trade, tech and other issues.“Please give my warmest regards to Vladimir Putin, and Kim Jong Un, as you conspire against The United States of America,” Trump said on his Truth Social site, referring to the leaders of Russia and North Korea, without elaborating.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: Laura Davison, Bloomberg Washington Deputy Bureau Chief and Nick Wadhams, Bloomberg National Security Team Lead Jane Harman, Chair of the National Defense Strategy Commission/Former-Ranking Member of House Intelligence Committee Rick Davis, Partner at Stonecourt Capital and Bloomberg Politics Contributor & Jeanne Sheehan Zaino, Democracy Visiting Fellow at Harvard Kennedy School's Ash Center and Bloomberg Politics Contributor See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Xi Jinping used a mix of bonhomie and economic allure this week to send Donald Trump a clear message: Beijing has too much global clout to be dictated by the US.Cameras captured the Chinese leader in a rare, unscripted huddle on Monday with Vladimir Putin and Narendra Modi — his most powerful partners in resisting America on the world stage — at a summit in the Chinese port city of Tianjin. At one point, Xi held the hand of his Indian counterpart, as the three men laughed casually, a striking scene given just months earlier New Delhi and Beijing were seen as rivals.The images were a victory for Xi’s decade-long political project to build an alternative to the US-led world order. Hours after the trio gathered at the Shanghai Cooperation Organization event, Beijing signed a major gas pipeline deal with Moscow — rebuking Trump’s efforts to use tariffs to prise India and China away from Russian energy 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, Joe speaks with: Bloomberg Economics Senior Geoeconomics Analyst for Asia-Pacific Adam Farrar. Bloomberg Markets Live Managing Editor Kristine Aquino. Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino. Former Republican Congressman and former Acting White House Chief of Staff Mick Mulvaney. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.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. Federal Reserve Governor Lisa Cook’s lawyers suggested that an unintentional “clerical error” may have been behind the mortgage dispute over which President Donald Trump wants her fired. Cook sued Thursday to block Trump’s “illegal attempt,” saying he’s using a phony pretext that doesn’t amount to sufficient “cause” to remove her from the US central bank. In court papers, her lawyers laid out for the first time a potential defense to allegations that she fraudulently listed homes in Michigan and Georgia as a “primary residence” when she obtained mortgages in 2021.On this edition, Joe speaks with: Bloomberg Washington Correspondent Tyler Kendall. Bloomberg International Economic and Policy Correspondent Michael McKee. Yale Budget Lab Co-Founder and President Natasha Sarin. Harvard Kennedy School's Ash Center Democracy Visiting Fellow Jeanne Sheehan Zaino and Stonecourt Capital Partner Rick Davis. Former Republican Congressman and Bloomberg Contributor Patrick McHenry. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.White House trade adviser Peter Navarro cranked up pressure on India to halt its purchases of Russian oil, repeating accusations that New Delhi is funding the Kremlin’s campaign in Ukraine and casting the conflict as “Modi’s war”.Speaking immediately after the Trump administration doubled tariffs on India to 50% — an effort to secure concessions on trade, while also pressuring Russia — Navarro reiterated that Prime Minister Narendra Modi was funding “the war machine.”“I mean Modi’s war, because the road to peace runs, in part, through New Delhi,” Navarro said Wednesday on Bloomberg Television’s Balance of Power.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 Senior White House and National Security Editor Michelle Jamrisko. Bloomberg Washington Correspondent Tyler Kendall. Bloomberg International Economic and Policy Correspondent Michael McKee. Former US Deputy Attorney General Donald Ayer. Harvard Kennedy School's Ash Center Democracy Visiting Fellow Jeanne Sheehan Zaino and former RNC Communications Director Lisa Camooso Miller. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump imposed a crushing 50% tariff on Indian goods to punish the country for buying Russian oil, upending a decades-long push by Washington to forge closer ties with New Delhi.The new tariffs, the highest in Asia, took effect at 12:01 a.m. in Washington on Wednesday, doubling the existing 25% duty on Indian exports. The levies will hit more than 55% of goods shipped to the US — India’s biggest market — and hurt labor-intensive industries like textiles and jewelry the most. Key exports like electronics and pharmaceuticals are exempt, sparing Apple Inc.’s massive new factory investments in India for now.The move marks a sharp deterioration in ties for the two nations and an about-turn in Washington’s strategy over the years to court India as a counterweight to China. Trump has slammed India for buying Russian oil, which he said was funding President Vladimir Putin’s war in Ukraine. New Delhi has defended its ties with Russia and has called the US’s actions “unfair, unjustified and unreasonable.”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 Washington Correspondent Tyler Kendall. Advancing American Freedom Senior Fellow Joel Griffith. Economic Times of India Columnist Seema Sirohi. Joe Lavorgna, Counselor to US Treasury Secretary Scott Bessent. Bloomberg Tech Co-Host Caroline Hyde. Bloomberg Intelligence Senior Defense Research Analyst Wayne Sanders. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Federal Reserve Governor Lisa Cook vowed to fight President Donald Trump’s move to oust her from the central bank following allegations that she falsified mortgage documents.“His attempt to fire her, based solely on a referral letter, lacks any factual or legal basis. We will be filing a lawsuit challenging this illegal action,” Cook’s lawyer, Abbe Lowell, said in a statement. Previously, Cook said she would “carry out my duties to help the American economy as I have been doing since 2022.”Cook’s challenge of Trump’s removal effort throws the future of the central bank’s board into further question after the president’s move Monday night, which represented a dramatic escalation in his battle for more control over monetary policy.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 Economics US Economist Stuart Paul. Stonecourt Capital Partner Rick Davis and ROKK Solutions Partner Kristen Hawn. Bloomberg Washington Correspondent Tyler Kendall. Constitutional Attorney Robert McWhirter. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump and South Korean President Lee Jae Myung expressed optimism for close cooperation on North Korea, collective security and shipbuilding, though the US leader downplayed the chances for further concessions on Seoul’s tariff deal.“We can do big progress with North Korea,” Trump said at the White House on Monday alongside Lee.The South Korean leader launched a charm offensive on Trump, praising stock-market gains, the gold finishes he added to the Oval Office and his peacekeeping efforts, and asked him to focus on ending tensions on the Korean peninsula. Lee even suggested that Trump could construct an eponymous tower in North Korea if peace is made.Still, Trump indicated that the agreement for a 15% tariff on South Korean imports would likely stick as-is, as they hash out unresolved details on the deal.“I hear they want to renegotiate the deal, but that’s OK, I don’t mind that. That doesn’t mean they’re going to get anything, but I don’t mind,” the US president said.On this edition of Balance of Power, Joe speaks with: Tyler Kendall, Bloomberg Washington correspondent Staurt Paul, Bloomberg Economics US Economist Dr. Christopher Smart, Founder and Managing Partner of Arbroath Group and former Special Assistant to the President at the National Economic Council during the Obama Administration Rick Davis, Partner at Stonecourt Capital and Bloomberg Politics Contributor & Roger Fisk, Former Special Advisor to President Barack Obama and Democratic Strategist Spencer Cox, Governor of Utah (R) & Chris Levesque, President and CEO of TerraPower See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. Federal Reserve Chair Jerome Powell carefully opened the door to an interest-rate cut in September, pointing to rising risks for the labor market even as worries over inflation remain. “The stability of the unemployment rate and other labor market measures allows us to proceed carefully as we consider changes to our policy stance,” Powell said in remarks prepared for the Fed’s annual conference in Jackson Hole, Wyoming on Friday. “Nonetheless, with policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance.” Following Powell’s remarks, investors boosted bets that the Federal Open Market Committee would cut rates at its Sept. 16-17 meeting. Economists at Deutsche Bank, Barclays and BNP Paribas pulled forward their forecasts for the next rate cut to September. On this edition of Balance of Power, Tyler Kendall and Michael Shepard, in for Joe and Kailey, speak with: Michael McKee, Bloomberg International Economics and Policy Correspondent Lael Brainard, Former Director of the National Economic Council During the Biden Administration, Former Vice Chair of the Federal Reserve, Distinguished Fellow at the Georgetown Psaros Center for Financial Markets and Policy Brian Platt, Bloomberg Canada Government reporter Kathryn Edwards, Economic Policy Consultant & Bloomberg Opinion Contributor Myles Miller, Bloomberg Senior Reporter Jeanne Sheehan Zaino, Democracy Visiting Fellow at Harvard Kennedy School's Ash Center and Democratic Strategist & Ashley Davis, Partner at S-3 Group and Republican Strategist See omnystudio.com/listener for privacy information.