Trump Blocks Housing Bill Until SAVE Act is Passed | Balance of Power 06/25/2026
Speakers
Robb Waters
— Managing Partner, Madison Group
Joseph Lavorgna
— Former Chief Economist, National Economic Council
Romaine Bostick
— Anchor, Bloomberg
Summary
The episode discusses President Trump's last-minute block of a bipartisan housing bill, tying it to the SAVE Act voter ID bill, and the political fallout. It also covers rising inflation (PCE at three-year high), expectations of Fed rate hikes from economist Joe LaVorgna, oil price movements amid Iran tensions, and a panelist's bearish call on wheat due to Qatar natural gas disruption.
- President Trump blocks signing of housing bill until SAVE Act passed; Speaker Johnson will send it anyway.
- Rep. Steil optimistic housing bill will eventually be enacted.
- Infighting over voter ID legislation and its viability in Senate.
- PCE inflation hits three-year high; Joe LaVorgna says Fed will raise rates, not cut.
- LaVorgna sees AI capex boom as near-term inflationary.
- Oil prices decline but gas prices lag; Trump accuses big oil of price gouging.
- Panelist Robb Waters recommends shorting wheat due to Qatar natural gas destruction.
- Ceasefire with Iran holds despite a ship hit by rocket; negotiations continue.
Ideas
Short wheat due to Qatar gas disruption.
Qatar's natural gas production capacity has been destroyed for three to five years, which will impact grain and farming prices in Europe, a factor that hasn't been discussed or priced in, making wheat a short.
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