Scott Galloway and Jessica Tarlov break down a rapidly escalating moment at home and abroad, as his war in the Middle East continues to seem like it will be going on for a while. Iran’s leadership has issued another direct threat as Donald Trump ramps up his rhetoric and pushes for a broader deal — even as the war hits its 60-day mark, raising serious legal questions under the War Powers Resolution.

Meanwhile, oil prices surged, and Wall Street doesn’t appear confident that a resolution will be reached anytime soon. Some investors are coining a new term: “NACHO” (“Not A Chance Hormuz Opens”). Scott and Jess unpack what that means for your wallet, global markets, and whether economic pressure could force a policy shift.

Back home, the Federal Reserve voted in a rare 8–4 split, signaling internal disagreement about the future direction of interest rates. Outgoing Fed chair Jerome Powell gave a press conference, warning about the threat posed by political interference in the activities of the central. What comes next with a new guy in charge — Kevin Warsh — and what might Trump try and do in response to rising gas prices?

Plus: Republicans push aggressive redistricting in Florida after a major Supreme Court decision weakened a key provision of the Voting Rights Act, and in Maine, a major shakeup to the landscape in the upcoming election for the Senate seat currently held by Sen. Susan Collins (R-ME).

And finally, Trump’s latest move — putting an image of his face on U.S. passports — sparks a fiery response from AOC.

Follow Jessica Tarlov, @JessicaTarlov

Follow Prof G, @profgalloway

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Fall August Wöginger: Das Urteil und die Folgen - #1628

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