Trump on Higher Gas Prices: 'I'll Never Apologize' | Balance of Power 08/14/2026

Watch on YouTube ↗  |  August 14, 2026 at 23:50  |  51:32  |  Bloomberg Markets
Speakers
Kailey Leinz — Bloomberg Reporter
Mike Flood — U.S. Representative (R-NE), Chair of Main Street Caucus
Gwen Moore — U.S. Representative, Wisconsin
Greg Casar — U.S. Representative, Texas; Chair, Congressional Progressive Caucus
Eric Martin — Bloomberg News Reporter

Summary

The episode covers political fallout from President Trump's comments dismissing affordability concerns and defending higher gasoline prices amid the Iran war. Lawmakers from both parties discuss cost-of-living pressures, housing supply legislation, and AI-related job and national security risks. Markets are highlighted by a semiconductor rally tied to AI demand and firmer crude oil near $89 on Iran tensions.

  • President Trump says Americans should accept paying a tiny bit more for gasoline because of the Iran war and says the USS Lincoln deployment was not too long.
  • Rep. Gwen Moore argues higher gasoline, diesel, groceries, and utility costs are squeezing household budgets and warns of a K-shaped economy.
  • Rep. Mike Flood promotes a housing reform bill to boost supply and lower home prices, while saying manufacturing, homebuilding, and steel activity are booming.
  • Bloomberg market update notes a winning week for the S&P 500, SOXX up about 18.9% since July on AI demand, and crude near $89 on Iran pressure.
  • Bloomberg's Eric Martin reports the Trump administration is ramping up economic sanctions on Cuba rather than pursuing military action.
  • Rep. Greg Casar calls for AI CEOs to testify before Congress and proposes an AI tax targeting companies like Oracle for automation-related layoffs.
Ideas
Kailey Leinz Bloomberg Reporter 16:12
AI demand lifts semiconductor stocks.
AI revenue strength from OpenAI and Anthropic is fueling semiconductor demand; the SOXX index has rallied about 18.9% since the end of July on AI optimism, lifting chip stocks.
SOXX MED
Kailey Leinz Bloomberg Reporter 17:11
Iran pressure supports crude oil.
Crude oil traded up to near $89 a barrel as Treasury Secretary Scott Bessent warned of more economic pressure to come on Iran, keeping Iran-related supply risks as a support for oil.
WTI LOW
Mike Flood U.S. Representative (R-NE), Chair of Main Street Caucus 22:29
Manufacturing and homebuilding are booming.
Manufactured housing is expanding, homebuilders are busy, and his local steel mill says it has never been busier; he argues the U.S. is at the start of a manufacturing and factory renaissance.
XHB Manufactured Housing SLX MED
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This Bloomberg Markets video, published August 14, 2026, features Kailey Leinz, Mike Flood discussing SOXX, WTI, XHB, Manufactured Housing, SLX. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Kailey Leinz, Mike Flood  · Tickers: SOXX, WTI, XHB, Manufactured Housing, SLX