Balance of Power

Insight & analysis on the White House and Capitol Hill.
Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.
US job growth topped all forecasts in May and the unemployment rate held steady at 4.3%, offering the clearest sign yet that the labor market may be breaking out of a prolonged period of lackluster hiring.

Nonfarm payrolls increased 172,000 last month and hiring in March and April was stronger than previously reported, according to Bureau of Labor Statistics data out Friday. Taken together, the figures marked the strongest three-month advance in more than two years.
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 and Kailey speak with:
Bloomberg Economics US Economist Stuart Paul.
Bloomberg White House Correspondent Kate Sullivan.
Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and former Chief of Staff to Vice President Mike Pence Marc Short.
Bloomberg Television Markets Correspondent Norah Mulinda.
Arbroath Group Managing Director Christopher Smart.
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Insight & analysis on the White House and Capitol Hill.
Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.
The Senate voted down a bid by retiring Republican Sen. Thom Tillis (R-N.C.) to permanently block the Department of Justice from establishing a fund to pay people who claim to have been victims of government “weaponization.”

The weaponization fund, established as part of a settlement between President Donald Trump and the IRS, has received bipartisan pushback but failed to garner the 60 votes needed to pass. Only 15 senators voted in support of the amendment as part of a marathon vote series on a GOP bill (S.2) to fund Immigration and Customs Enforcement and Customs and Border Protection for the rest of Trump’s term.

DOJ announced it was dropping the fund after a court blocked work on it, but lawmakers have sought to ensure it’s permanently shut down. The issue held up consideration of the immigration enforcement funding bill for weeks.
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 and Kailey speak with:
Bloomberg News Congressional Reporter Erik Wasson.
Bloomberg News White House and National Security Editor Michelle Jamrisko.
Bloomberg Markets Live Blog Managing Editor Kristine Aquino.
Stonecourt Capital Partner Rick Davis and Hicks Evaluation Group Founder and CEO Fredrick Hicks.
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Insight & analysis on the White House and Capitol Hill.
Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.
Senate Republicans stripped federal funds for Donald Trump’s White House ballroom from a spending package after the money triggered a blacklash from lawmakers in both parties.

The removal of the funds Wednesday is a fresh setback for Trump who a day earlier Senate Republicans forced to scrap a $1.8 billion fund to pay allies who claim they were unfairly targeted by the government.

Senate Republican leaders and the White House had sought to attach $1 billion for security upgrades related to the ballroom project and East Wing replacement onto a partisan measure to fund immigration enforcement.
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 and Kailey speak with:
Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino.
Georgia Governor Brian Kemp.
Democratic Congressman Jake Auchincloss of Massachusetts.
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Insight & analysis on the White House and Capitol Hill.
Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.
President Donald Trump is still optimistic the US can reach an interim peace deal with Iran soon, after the Islamic Republic threatened to suspend talks because of Israel’s escalating attacks in Lebanon.

Trump on Tuesday disputed reports in Iranian state media that said talks with the US had been suspended over the fighting in Lebanon, saying the two sides have been “continuously” having conversations, including “today.”

The president told ABC News late Monday Washington and Tehran could finalize a memorandum of understanding to reopen the Strait of Hormuz as soon as “over the next week.”
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 and Kailey speak with:
Bloomberg White House Correspondent Skylar Woodhouse.
Council on Foreign Relations Senior Fellow Elisa Ewers.
Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino.
Bloomberg News Senior Editor for Technology and Strategic Industries Michael Shepard.
University of Virginia Center for Politics Sabato's Crystal Ball Managing Editor Kyle Kondik.
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An update on a proposal that we believe will bring regulatory clarity to event contracts, key for platforms like Kalshi, Polymarket, CME Group and Robinhood, led Bloomberg Intelligence's June 1 Washington Policy Pulse discussion. The proposal likely reaffirms that event contracts are swaps and under federal jurisdiction. We also discussed a future Iran War Powers resolution and how it's unlikely to change President Donald Trump's views towards the conflct as well as the potential for new tariffs once the US Trade Representative completes what is known as Section 232 or Section 301 tariffs.

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 DC.

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