Insight & analysis on the White House and Capitol Hill.

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US President Donald Trump signaled he’s prepared to let economic pressure on Iran build rather than launch fresh military strikes to force a reopening of the Strait of Hormuz, even as the Islamic Republic reiterated that the conditions still aren’t in place to allow free passage through the key waterway.

“We are just watching Iran with its huge inflation and the fact they have no money,” Trump told Axios in an interview on Sunday, saying that a US naval blockade of the country was deepening its financial woes. “We are low-keying it.”

The president’s comments mark a shift from his repeated threats to escalate the bombing campaign against Iran and come amid lingering talks between Tehran and Oman to reopen Hormuz. Iran has said it’s nearing a deal, while laying out a list of demands for Washington to meet before shipping can resume — including the lifting of sanctions. 

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 White House Correspondent Josh Wingrove.
• Democratic Congresswoman Suzan DelBene of Washington, Chair of the Democratic Congressional Campaign Committee.
• Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino.
• Bloomberg Intelligence Senior Commodities Strategist Mike McGlone.
• Princeton University Professor of Near Eastern Studies Bernard Haykel.