Intro

The people, companies and trends shaping the global economy.

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President Donald Trump made an emphatic declaration on Friday about his intentions in the widening Middle East war: He’d accept no deal with Iran other than “unconditional surrender” and pledged the US “will work tirelessly” to restore the country’s economy if a new leader is installed whom he deems acceptable.Nearly a week in, the military campaign has sent oil prices soaring and roiled equity and bond markets across the globe. The online missive showed the president — who campaigned as a pro-peace candidate — is digging in on policies that threaten to tear his fragile political coalition apart.

The revolt of “Make America Great Again” influencers including Tucker Carlson, Megyn Kelly and Marjorie Taylor Greene, along with several GOP politicians, has produced a chorus of betrayal. “No one should have to die for a foreign country,” Kelly said on her radio show this week.
Their backlash comes after Trump has already tested his base’s loyalty with an earlier strike on Iran and an operation in Venezuela to capture Nicolas Maduro that represent the kind of military adventurism he’d built his political career on rejecting, as well as his handling of the Epstein files, which frustrated some MAGA devotees who expected the swift and full transparency he promised.

At the same time, the Iran campaign risks alienating the more-casual Trump voters who cast a ballot for him hoping he’d shore up the economy, and see Middle East conflict as a distraction — or even a hindrance. Gasoline prices this week rose to their highest level at any time during a Trump presidency.

Today's show features:

• Nancy Cook, Bloomberg News Senior National Economic Correspondent on Big Take: ‘MAGA Is Split': Trump Digs In on Iran War, Divides Loyalists
• Jennifer Welch, Bloomberg Economics Chief Geoeconomics Analyst on ongoing impact of Iran/Hormuz on gas prices, inflation/stagflation, energy and other commodities prices
• Madison Muller, Bloomberg News Health Reporter on Novo Drops Hims & Hers Lawsuit and Will Sell Wegovy on Site, FDA Plans to Loosen Testing Rules to Boost Biosimilar Drugs
• Bloomberg News White House Editor Jordan Fabian on President Trump Says War with Iran is ‘Very Complete'

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