Trump Calls Bipartisan Housing Bill 'A Big Yawn' | Balance of Power 06/29/2026
Speakers
Steven Cook
— Senior Fellow, Council on Foreign Relations
Enda Curran
— Senior Economics Reporter, Bloomberg News
Rick Davis
— Republican Strategist, Partner at Stonecourt Capital
Becca Wasser
— Senior Fellow, CNAS
Summary
The episode covers major Supreme Court rulings on Fed independence and presidential firing power, a bipartisan housing bill stalled over Trump's demand for the SAVE Act, and ongoing U.S.-Iran tensions ahead of Doha talks. Oil prices rise on Strait of Hormuz risks, while equity markets post gains. A Big Take segment reports on skilled immigrants reconsidering the U.S. amid policy chaos.
- Supreme Court rules Fed Governor Lisa Cook can keep her job, affirming Fed independence for now.
- Separate ruling greatly expands president's power to fire officials at other agencies.
- Mail-in ballot grace periods upheld, preserving state election laws.
- Bipartisan housing bill reaches president's desk but Trump calls it 'a big yawn,' prioritizing the SAVE Act.
- US-Iran talks set for Doha amid ongoing military strikes and Strait of Hormuz tensions.
- Oil prices rise as geopolitical risk persists, with WTI topping $70.
- Bloomberg's Big Take reports skilled immigrants increasingly look outside the US amid visa uncertainty.
- Equities rebound, led by tech and chipmakers, after a tough week for semiconductors.
Ideas
Strait conflict sustains oil risk premium.
Ongoing U.S.-Iran conflict in the Strait of Hormuz will persist with sporadic violence, as Iran seeks to assert control over the waterway and the U.S. cannot tolerate attacks on commercial shipping; this keeps risk to oil supply elevated, supporting crude oil prices.
Up Next
This Bloomberg Markets video, published June 29, 2026, features Steven Cook discussing WTI. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Steven Cook · Tickers: WTI