Bloomberg Talks

Democratic Senator Gary Peters of Michigan, ranking member of the Senate Homeland Security Committee, joined "Bloomberg Balance of Power" to express strong opposition to approving a proposed $200 billion increase in Pentagon funding at this time. He emphasized that the administration has not sought the required congressional authorization as mandated by the U.S. Constitution. Peters highlighted that the current Pentagon budget is approximately $1 trillion, suggesting there is sufficient funding already available. He criticized the lack of a clear strategic plan or defined objectives, particularly questioning why there has been no effective action to keep the Straits of Hormuz open. The senator also pointed to the economic impact of rising gasoline prices on Michigan families, noting prices near $4 per gallon and the broader negative effects on consumers. He urged the president to provide transparency and justification for the proposed spending, warning that increasing the national debt without a clear plan could exacerbate economic instability.
See omnystudio.com/listener for privacy information.

Former SEC Chair Gary Gensler discusses private credits role in US capital markets. He is joined by Bloomberg's Tom Keene and Paul Sweeney on Bloomberg Intelligence.
See omnystudio.com/listener for privacy information.

Michael Hartnett, chief investment strategist at BofA Global Research, discusses market reaction to the Iran war, which he says will feed into earnings “without a question.” Harnett also explains where he would start “nibbling” on the S&P 500 and US treasuries and why he is still counting on the consumer.
See omnystudio.com/listener for privacy information.

Bloomberg's Tom Keene and Jonathan Ferro discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance.
Federal Reserve officials left interest rates unchanged and continued to expect one rate cut this year as they acknowledged increased uncertainty due to war in the Middle East.
Chair Jerome Powell emphasized that to resume lowering rates, officials would have to see progress in reducing inflation, especially goods inflation that has been boosted by tariffs.
See omnystudio.com/listener for privacy information.

Tallbacken Capital Advisors Founder and CEO, Michael Purves, talks about continued tension and volatility in markets. He speaks with Tom Keene and Paul Sweeney on Bloomberg Surveillance.
See omnystudio.com/listener for privacy information.