US Launches 'Self-Defense' Strikes Against Iran | Balance of Power 06/09/2026

Summary

The episode covers President Trump's declaration that the U.S. must respond after Iran downed an American Apache helicopter near the Strait of Hormuz, followed by U.S. self-defense strikes. The House passed a reconciliation bill for border funding. FDIC Chair Travis Hill pushed back against a Fed governor's warning that recent regulatory changes weaken bank safety. The show also discusses AI IPO battles featuring SpaceX, Anthropic, and OpenAI, and primary elections in Maine and South Carolina.

• Trump says U.S. will respond to Iran downing U.S. helicopter; CENTCOM launches self-defense strikes
• House passes $70 billion reconciliation package to fund ICE and CBP
• FDIC Chair Hill fully disagrees with Fed Governor Barr's criticism that regulatory rollbacks threaten bank safety
• SpaceX IPO seen as first in line; offering oversubscribed; Musk compared to Edison
• Anthropic overtakes OpenAI in latest private valuation; AI adoption wave still strong
• Semiconductor index up 62% YTD despite day's drop, supported by AI demand
• Tight oil transit around Hormuz; UAE-Saudi cross-peninsula pipelines near maximum capacity