President Donald Trump delivered the longest State of the Union address of the television age Tuesday, declaring “a turnaround for the ages” as he tried to sell Americans on his economic program ahead of crucial midterm elections later this year.


The speech had all the ceremony, confrontation and chaos that have come to define the event in an era of narrow congressional majorities and partisan polarization. Democratic Representative Al Green was ejected from the chamber for disrupting the speech. Trump invited the gold-medal-winning men’s Olympic hockey team into the gallery amid chants of “USA! USA! USA!” He awarded several medals honoring veterans and active-duty service members.


And in more than 1 hour 47 minutes, the longest State of the Union in history, the president delivered a rally-like speech punctuated less by policy proposals than by political attacks.

For instant reaction and analysis, Bloomberg Balance of Power hosts Joe Mathieu and Kailey Leinz speak with:
Bloomberg White House correspondent Jeff Mason
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
US Interior Secretary Doug Burgum

President Donald Trump delivered the longest State of the Union address of the television age Tuesday, declaring &ldquo;a turnaround for the ages&rdquo; as he tried to sell Americans on his economic program ahead of crucial midterm elections later this year.
 The speech had all the ceremony, confrontation and chaos that have come to define the event in an era of narrow congressional majorities and partisan polarization. Democratic Representative Al Green was ejected from the chamber for disrupting the speech. Trump invited the gold-medal-winning men&rsquo;s Olympic hockey team into the gallery amid chants of &ldquo;USA! USA! USA!&rdquo; He awarded several medals honoring veterans and active-duty service members.
 And in more than 1 hour 47 minutes, the longest State of the Union in history, the president delivered a rally-like speech punctuated less by policy proposals than by political attacks.
For instant reaction and analysis, Bloomberg Balance of Power hosts Joe Mathieu and Kailey Leinz speak with:
<ul>
<li>Bloomberg White House correspondent Jeff Mason</li>
<li>Rick Davis, Partner at Stonecourt Capital and Bloomberg Politics Contributor &amp; Jeanne Sheehan Zaino, Democracy Visiting Fellow at Harvard Kennedy School's Ash Center and Bloomberg Politics Contributor</li>
<li>US Interior Secretary Doug Burgum</li>
</ul>

Listen for today's top stories, with context, in just 15 minutes. 

Each morning, hosts Nathan Hager and Karen Moskow bring you the latest on US politics, foreign relations, business, financial markets and global economics. The show is recorded at 5 AM ET each weekday, so you get the freshest reporting on the stories that matter. Get informed from Bloomberg's 3,000 journalists and analysts. Listen and subscribe to Bloomberg Daybreak: US Edition.

Listen for today's top stories, with context, in just 15 minutes. Each morning, hosts Nathan Hager and Karen Moskow bring you the latest on US politics, foreign relations, business, financial markets and global economics. The show is recorded at 5 AM ET each weekday, so you get the freshest reporting on the stories that matter. Get informed from Bloomberg's 3,000 journalists and analysts. Listen and subscribe to Bloomberg Daybreak: US Edition.

Bloomberg Daybreak: US Edition

Listen for today's top stories, with context, in just 15 minutes. 

Each morning, hosts Nathan Hager and Karen Moskow bring you the latest headlines on US politics, foreign relations, financial markets and global economics. The show is recorded at 5AM ET each weekday, so you get the freshest reporting on the stories that matter. Get informed from Bloomberg's 3,000 journalists and analysts. Listen and subscribe to Bloomberg Daybreak: US Edition.

Listen for today's top stories, with context, in just 15 minutes. Each morning, hosts Nathan Hager and Karen Moskow bring you the latest headlines on US politics, foreign relations, financial markets and global economics. The show is recorded at 5AM ET each weekday, so you get the freshest reporting on the stories that matter. Get informed from Bloomberg's 3,000 journalists and analysts. Listen and subscribe to Bloomberg Daybreak: US Edition.

Instant Reaction: Trump Touts 'Turnaround' in State of the Union

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/cd28e0dd-138d-4314-a836-b3fc00606f47/transcript

Today's top stories, with context, in just 15 minutes.   

On today's podcast:   

1) Iran would be allowed to start oil exports immediately under an interim deal with the US and gain access to a $300 billion economic development program. The US Treasury Department will issue waivers for exports of Iranian crude oil and petrochemical products immediately after the memorandum is signed, and the US will end its naval blockade of Iranian ports. The US and its regional partners would create a plan to rehabilitate Iran and allow for its economic development, with financing of at least $300 billion, according to the draft document.   

2) Voters headed to the polls in four states and the District of Columbia. The biggest races to watch were two runoff elections in Georgia, where President Trump's endorsement led to mixed results. In the Republican Senate race, Trump-backed Congressman Mike Collins defeated former University of Tennessee football coach Derek Dooley by an 11 point margin - 55.5% to 44.5%. Meanwhile, in the governor's race, President Trump's favored candidate, Lieutenant Governor Burt Jones, lost to billionaire Rick Jackson, 52.7% to 47.4%. It was also a historic primary night in Washington DC. For the first time in 36 years, Democrats have picked a nominee for delegate to Congress who is not Eleanor Holmes Norton. Councilmember Robert White ran away with the nomination with 63.2% of the vote.   

3) Federal Reserve policymakers are expected to hold interest rates steady, posing a test for new chairman Kevin Warsh as inflation erodes households' purchasing power. Several officials have outlined scenarios that could warrant rate hikes and want to eliminate language suggesting their next move is likely to be a cut. Investors will be listening for how strongly Warsh expresses support for the central bank's commitment to returning inflation to the Fed's 2% goal.

Today's top stories, with context, in just 15 minutes.&nbsp; &nbsp; On today's podcast:&nbsp; &nbsp; 1) Iran would be allowed to start oil exports immediately under an interim deal with the US and gain access to a $300 billion economic development program. The US Treasury Department will issue waivers for exports of Iranian crude oil and petrochemical products immediately after the memorandum is signed, and the US will end its naval blockade of Iranian ports. The US and its regional partners would create a plan to rehabilitate Iran and allow for its economic development, with financing of at least $300 billion, according to the draft document.&nbsp; &nbsp; 2) Voters headed to the polls in four states and the District of Columbia. The biggest races to watch were two runoff elections in Georgia, where President Trump's endorsement led to mixed results. In the Republican Senate race, Trump-backed Congressman Mike Collins defeated former University of Tennessee football coach Derek Dooley by an 11 point margin - 55.5% to 44.5%. Meanwhile, in the governor's race, President Trump's favored candidate, Lieutenant Governor Burt Jones, lost to billionaire Rick Jackson, 52.7% to 47.4%. It was also a historic primary night in Washington DC. For the first time in 36 years, Democrats have picked a nominee for delegate to Congress who is not Eleanor Holmes Norton. Councilmember Robert White ran away with the nomination with 63.2% of the vote.&nbsp; &nbsp; 3) Federal Reserve policymakers are expected to hold interest rates steady, posing a test for new chairman Kevin Warsh as inflation erodes households' purchasing power. Several officials have outlined scenarios that could warrant rate hikes and want to eliminate language suggesting their next move is likely to be a cut. Investors will be listening for how strongly Warsh expresses support for the central bank's commitment to returning inflation to the Fed's 2% goal.

Iran Deal Gives $300 Billion Relief; First Fed Decision for Kevin Warsh

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/916612bd-354f-425c-b4c2-b46c009f655d/transcript

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) US President Donald Trump keeps repeating that the Strait of Hormuz — through which one fifth of the world’s oil and liquefied natural gas supplies normally flow — will reopen by Friday.But on the sidelines of the Group of Seven summit, where Iran likely dominated Monday’s dinner conversation, it’s clear that his European allies don’t share his optimism. They disagree that trade can resume by week’s end, like Trump promised, and have practical questions about what exactly was agreed before they can commit to de-mining missions and patrols.
2) The UK announced new sanctions on what it said was a Russian intelligence network that has been acquiring Western technology for its military to use in Ukraine, as well as a further clampdown on its shadow fleet and illicit finance programs. Britain’s Foreign Office said it was exposing a front company called LLC Neptune Co Ltd, which it said was controlled by Russia’s military intelligence agency, the GRU, and was involved in covertly procuring Western technology for the country’s military.
3) SpaceX shares surged in premarket trading, putting the stock on track to extend a rally following its blockbuster debut last week. The shares rose 11% in New York, poised to build on the more than 40% gain across SpaceX’s first two sessions as a public company. The gains have lifted the market value of the rocket and AI company founded by Elon Musk above $2.5 trillion as of Monday’s close, bringing it within striking distance of Amazon.com Inc.’s nearly $2.7 trillion valuation.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) US President Donald Trump keeps repeating that the Strait of Hormuz &mdash; through which one fifth of the world&rsquo;s oil and liquefied natural gas supplies normally flow &mdash; will reopen by Friday.But on the sidelines of the Group of Seven summit, where Iran likely dominated Monday&rsquo;s dinner conversation, it&rsquo;s clear that his European allies don&rsquo;t share his optimism. They disagree that trade can resume by week&rsquo;s end, like Trump promised, and have practical questions about what exactly was agreed before they can commit to de-mining missions and patrols. 2) The UK announced new sanctions on what it said was a Russian intelligence network that has been acquiring Western technology for its military to use in Ukraine, as well as a further clampdown on its shadow fleet and illicit finance programs. Britain&rsquo;s Foreign Office said it was exposing a front company called LLC Neptune Co Ltd, which it said was controlled by Russia&rsquo;s military intelligence agency, the GRU, and was involved in covertly procuring Western technology for the country&rsquo;s military. 3) SpaceX shares surged in premarket trading, putting the stock on track to extend a rally following its blockbuster debut last week. The shares rose 11% in New York, poised to build on the more than 40% gain across SpaceX&rsquo;s first two sessions as a public company. The gains have lifted the market value of the rocket and AI company founded by Elon Musk above $2.5 trillion as of Monday&rsquo;s close, bringing it within striking distance of Amazon.com Inc.&rsquo;s nearly $2.7 trillion valuation.

US at Odds With Allies Over Hormuz, G7 Summit in France Begins

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/414c1636-eaf8-4b00-8edd-b46b009f0ff3/transcript

Today's top stories, with context, in just 15 minutes.

On today's podcast:

1) The US and Iran reached an interim agreement to reopen the Strait of Hormuz, halting a war that killed thousands of people and setting the stage for negotiations on the fate of Tehran’s nuclear program. Officials from the two countries will meet in Switzerland to formally sign the agreement, with key sticking points left for the next stage of talks, including the removal of sanctions and financial incentives for Iran. The agreement could bring peace and security to the region, but its details remain unresolved, and both sides are casting the deal in different lights, underscoring the difficulties that may lie ahead in resolving outstanding issues.

2) Inflation is roaring back at the fastest pace in three years, and investors have been dumping US Treasury bonds and piling into bets the Fed will need to start raising rates by December. Federal Reserve Chairman Kevin Warsh is facing an unusually high-stakes test in his first FOMC meeting as Fed chair, with his maiden press conference and the Fed's post-meeting statement and forecasts to be scoured for clues on what's next. Warsh's commitment to maintaining the bank's political independence will be reassured if he sends a convincing message that the Fed is willing to shift back into inflation-fighting mode, but falling short will rattle markets already worried he could jeopardize the Fed's credibility.

3) SpaceX shares jumped in premarket trading Monday, after its blockbuster debut Friday vaulted it into the ranks of the world’s most valuable public companies. The performance helped bolster confidence in the artificial intelligence rally, following SpaceX’s embrace of AI earlier this year with the acquisition of Musk’s xAI. It also boosted the IPO prospects of Anthropic PBC and OpenAI, both of which plan go public themselves.

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) The US and Iran reached an interim agreement to reopen the Strait of Hormuz, halting a war that killed thousands of people and setting the stage for negotiations on the fate of Tehran&rsquo;s nuclear program. Officials from the two countries will meet in Switzerland to formally sign the agreement, with key sticking points left for the next stage of talks, including the removal of sanctions and financial incentives for Iran. The agreement could bring peace and security to the region, but its details remain unresolved, and both sides are casting the deal in different lights, underscoring the difficulties that may lie ahead in resolving outstanding issues.
2) Inflation is roaring back at the fastest pace in three years, and investors have been dumping US Treasury bonds and piling into bets the Fed will need to start raising rates by December. Federal Reserve Chairman Kevin Warsh is facing an unusually high-stakes test in his first FOMC meeting as Fed chair, with his maiden press conference and the Fed's post-meeting statement and forecasts to be scoured for clues on what's next. Warsh's commitment to maintaining the bank's political independence will be reassured if he sends a convincing message that the Fed is willing to shift back into inflation-fighting mode, but falling short will rattle markets already worried he could jeopardize the Fed's credibility.
3) SpaceX shares jumped in premarket trading Monday, after its blockbuster debut Friday vaulted it into the ranks of the world&rsquo;s most valuable public companies. The performance helped bolster confidence in the artificial intelligence rally, following SpaceX&rsquo;s embrace of AI earlier this year with the acquisition of Musk&rsquo;s xAI. It also boosted the IPO prospects of Anthropic PBC and OpenAI, both of which plan go public themselves.

US, Iran Halt War; Global Stocks Surge on Deal

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/1b9d8c05-20e0-4035-942f-b46a009e1786/transcript

Instant Reaction: Trump Touts 'Turnaround' in State of the Union

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