Episode summary
US Bombs Persian Gulf Supertanker, Warsh: Trump Hasn't Interfered | Bloomberg Daybreak: US Edition
Bloomberg Daybreak: US Edition
· · 22 min · Guests: Todd Blanche, Fatih Birol, Kevin Warsh
Summary
The morning began with a sharp escalation in the Middle East: the US struck Iran for a fifth straight day, including a sanctioned oil tanker near the country’s main export terminal, and Iran retaliated with attacks on American bases in Kuwait and Jordan. Bloomberg’s Middle East coverage said the interim peace period has “all but collapsed,” while the International Energy Agency warned that the global economy faces renewed risk if the Strait of Hormuz crisis is not resolved within weeks.
On Capitol Hill, Todd Blanche told senators he would support legislation to block a proposed $1.8 billion government weaponization fund, but Democrats and some Republicans pressed him on whether he could act independently from President Trump after serving as Trump’s personal lawyer. Jay Clayton also faced questions in his confirmation hearing, including over his view of the 2020 election and his role as Manhattan’s top federal prosecutor.
The Fed also stayed in focus. Kevin Warsh said Trump had not tried to influence monetary policy and said he would keep doing his job independently if pressure came. Markets then turned to chips, with Taiwan Semiconductor raising spending and revenue guidance, while the broader day included trade comments from Jameson Greer, Uber’s $14.8 billion deal for Delivery Hero, and a fresh warning from Jamie Dimon about AI risk.
Key takeaways
- The host said US strikes on Iran and Iranian retaliation have pushed the interim Gulf agreement close to collapse.
- An analyst from the International Energy Agency warned the global economy could face a renewed challenge if the Strait of Hormuz crisis lasts weeks.
- The host said Todd Blanche faced skepticism in confirmation hearings over a $1.8 billion weaponization fund and his independence from Trump.
- The host said Kevin Warsh told senators Trump had not tried to interfere with monetary policy and that he would stay independent if pressured.
- The host said Taiwan Semiconductor lifted spending and revenue forecasts, reinforcing chip strength ahead of another heavy earnings stretch.
Notable quotes
“The US has struck Iran for a fifth straight day and hit a sanctioned oil tanker near the country's main export terminal”
“the global economy faces a renewed challenge if the conflict that's choked the straight of Hormuz is not resolved in a matter of weeks”
“the interim peace uh period uh if we can call it that has all but collapsed”
“The number one deliverable we always have between President Trump and President Xi is to continue the stability of the relationship”
How the episode opens
Bloomberg Audio Studios, podcasts, radio, news. — Good morning. I'm Nathan Hager — And I'm Karen Moscow. Here are the stories we're following today.
Karen, we begin with the latest developments in the Middle East. The US has struck Iran for a fifth straight day and hit a sanctioned oil tanker near the country's main export terminal. Iran responded to the US barrage by firing on American bases in Kuwait and Jordan.
We get more from Bloomberg Middle East managing editor Onarant. We saw further strikes by the US on various missile storage and uh missile launch sites, control and command centers again along Iran's southern coast. The Islamic Republic responded as expected.
There have been retaliatory attacks especially on Arab states in the Persian Gulf. So this basically takes up the escalation uh one step further. We are seeing the continuation of a serious test facing well there's no ceasefire really left anymore but the interim agreement has all but collapsed.
Yeah the the latest strikes are just a continuation of this serious test facing the interim agreement
And Bloomberg's own says the US and Iran have accused each other of breaching the terms of the memorandum of understanding. Nathan, we have a warning from the head of the International Energy Agency. Executive Director Fonti Bureau says the global economy faces a renewed challenge if the conflict that's choked the straight of Hormuz is not resolved in a matter of weeks.
Ball spoke with Bloomberg's David Gura at the Aspen Security Forum in Colorado. big uncertainty and the markets are nervous uh whether or not there will be a soon and lasting solution uh to the uh problem and uh at the same time uh many countries uh are taking some measures to avoid the worst case scenario
And that was international energy agency executive director Fonti Viral speaking with Bloomberg's David Gura at the Aspen security forum ver added that the conflict must be resolved held in a matter of weeks to limit impact on the global economy.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- iran us conflict
- strait of hormuz
- fed rate cuts
- fed independence
- weaponization fund
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Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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