Balance of Power

With President Donald Trump vowing to pay the military on Oct. 15, the lack of a pressure point to bring Congress together to resolve the US government shutdown led Bloomberg Intelligence's Washington Policy Pulse on Oct. 13. The next major catalyst, in our view, would be if Supplemental Nutrition Assistance Program (SNAP) benefits run out at the end of the month, potentially impacting grocers like Walmart, Kroger and Albertsons. We also discussed the latest in Trump's threat to place tariffs on China, as well as an update on deposit insurance legislation, which could increase costs for banks like JPMorgan and Bank of America.  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.US President Donald Trump threatened a “massive increase” of tariffs on goods from China and to cancel an upcoming meeting with the country’s leader, Xi Jinping, citing recent “hostile” export controls Beijing placed on rare-earth minerals. “I was to meet President Xi in two weeks, at APEC, in South Korea, but now there seems to be no reason to do so,” Trump posted Friday on social media. The president added that one form of retaliation the US is considering “is a massive increase of Tariffs on Chinese products coming into the United States of America,” adding that “there are many other countermeasures that are, likewise, under serious consideration.”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 Michelle Jamrisko is in for Kailey. Joe and Michelle speak with: Bloomberg Washington Correspondent Tyler Kendall. Bloomberg Surveillance Host Tom Keene. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School's Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. Democratic Congressman Brad Sherman of California. Former Republican Congressman Patrick McHenry of North Carolina. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Congressional leaders continued to blame the other party for the US government shutdown as President Donald Trump doubled down on his threats to use the stalemate, now in its ninth day, to make sweeping cuts to Democratic priorities and the federal bureaucracy. There was no sign of progress as government workers and military personnel prepare for missed paychecks and the general public begins to fell the effects of the closure on everything from taxpayer services to air travel. Trump has repeatedly threatened to fire federal workers, withhold back pay for some government employees and cut funding for programs favored by Democrats, but so far none have materialized. Some Republicans have questioned that strategy, saying it distracts from their messaging to blame Democrats for the shutdown effects. 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 Michelle Jamrisko is in for Kailey. Joe and Michelle speak with: Bloomberg Washington Correspondent Tyler Kendall. Bloomberg Washington Deputy Bureau Chief Laura Davison. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Speaker Mike Johnson dismissed Democrats’ pleas to call the House back into session and ensure troops get paid Oct. 15 if the government is still shut down.House Democrats “are clamoring to get back here and have another vote, because some of them want to get on record and say that we’re paying troops,” Johnson told reporters Wednesday. “We already had that vote. It’s called the CR,” he added, referring to the stopgap spending bill the House passed with Republicans and just one Democrat.Democratic Reps. Gabe Vasquez (N.M.) and Derek Tran (Calif.) will send a letter to Johnson this afternoon, asking for the House to return and vote on legislation to pay troops during a shutdown “immediately.” Johnson canceled this week’s House session and has signaled the chamber would stay away until Senate Democrats fold to accept the GOP-led continuing resolution.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. Republican Congressman Jason Smith of Missouri, Chairman of the House Ways and Means Committee. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School's Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. Democratic Congresswoman Melanie Stanbury of New Mexico. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump opened the door to blocking back pay for certain federal workers when the government reopens, a move that would heighten legal scrutiny of the administration’s maneuvers during the shutdown.“It really depends on who you’re talking about, but for the most part, we’re going to take care of our people,” he told reporters at the White House. “There are some people that really don’t deserve to be taken care of and we’ll take care of them in a different way.”The White House’s Budget Office led by Russell Vought has drafted a memo that says the workers aren’t guaranteed compensation during the shutdown, a posture that raises the stakes in the confrontation with Democrats nearly a week after agencies and departments suspended non-essential operations.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. Republican Congressman Mike Bost of Illinois, Chairman of the House Veterans' Affairs Committee. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School's Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. Bloomberg Capitol Influence Team Lead Megan Scully. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.The White House tightened its pressure on congressional Democrats as a US government shutdown lurched into a second week, saying it would soon trigger federal worker layoffs without specifying when those could begin.President Donald Trump spoke with top congressional Republicans Monday and administration officials are working with agency heads on layoff plans, White House Press Secretary Karoline Leavitt told reporters.“If this shutdown continues, layoffs are going to be unfortunate consequence of that,” Leavitt said Monday, declining to give a timeline for when the White House would announce layoffs.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 Congressional Reporter Erik Wasson. Republican Congressman Nicole Malliotakis of New York. Stonecourt Capital Partner Rick Davis and Harvard Kennedy School's Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino. Wilson Center Global Fellow David Hale. See omnystudio.com/listener for privacy information.

With the US government still shut -- and a re-opening unlikely this week amid continued brinkmanship -- questions about the market, sector and economic effects will be at top of market participant minds. On October 6, analysts from Bloomberg Intelligence, Bloomberg Economics and BloombergNEF hosted a client call to discuss paths for Congress to reopen the government, the fate of Obamacare subsidies and the economic fallout should the shutdown persist.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.

Hamas agreed to release the last of the hostages from its 2023 attack on Israel but said the rest of a US peace plan would be subject to negotiation, a stance that offered uncertain hopes for an end to the conflict in Gaza. President Donald Trump responded favorably to the Hamas statement even though the group failed to address other key elements of his 20-point proposal that Israel has also demanded, including that it disarm. He called on Israel to stop its bombing campaign and said discussions were underway on “details to be worked out,” suggesting that he was willing to give Hamas some leeway. “I believe they are ready for a lasting PEACE,” Trump said of Hamas in a social media post. “Israel must immediately stop the bombing of Gaza, so that we can get the Hostages out safely and quickly!” In a subsequent video post, Trump thanked the Muslim-majority nations he credited with assisting in the negotiations and pledged that “everybody will be treated fairly” in ongoing talks. “This is a big day,” Trump said. “We’ll see how it all turns out — we have to get the final word down in concrete.” For instant reaction and analysis, Bloomberg Balance of Power host Joe Mathieu speaks with: - Rep. Gregory Meeks of New York- Bloomberg News State Department and Foreign Policy Reporter Eric Martin- Former Deputy Secretary of State Wendy ShermanSee omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.Senate Democrats on Friday rejected a Republican spending bill in a vote that will almost certainly push the US government shutdown into next week as the party stands firm in the face of President Donald Trump’s threats to fire thousands of federal workers and extract political revenge.  With the two sides locked in a standoff that raises the prospects of lengthy furloughs and a prolonged disruption in government services, senators left Washington for the weekend. Across the Capitol, Speaker Mike Johnson indicated that House lawmakers, who have been home in their districts, may not return as planned next week if the Senate remains deadlocked.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 Deputy Bureau Chief Laura Davison. Republican Senator Todd Young of Indiana. Bluestack Strategies Founder Maura Gillespie. Former Republican Congressman Patrick McHenry. See omnystudio.com/listener for privacy information.

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF. President Donald Trump is weighing slashing “thousands” of federal jobs ahead of a meeting with his budget director, Russell Vought, as the White House looks to ratchet up pressure on Democrats to end a government shutdown that has entered its second day.“It’s likely going to be in the thousands,” White House press secretary Karoline Leavitt told reporters on Thursday, saying that the “entire team at the White House” was working to identify possible cuts.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 Congressional Reporter Erik Wasson. Democratic Congressman Joe Morelle of New York. Stonecourt Capital Partner Rick Davis and Third Way Senior Fellow Caitlin Legacki. Republican Congressman Bryan Steil of Wisconsin. See omnystudio.com/listener for privacy information.