Bessent Warns of Economic Asphyxiation | Bloomberg Businessweek Daily 8/24/2026

Treasury Secretary Scott Bessent delivered remarks to kick off the week, announcing a plan to to sever Iran from the global economy and threatening all nations to cut ties with Iran. A panel of Bloomberg experts -- Chief US Interest Rate Strategist Ira Jersey, Economics & Policy Correspondent Mike McKee, and Senior National Political Correspondent Nancy Cook -- react to Bessent's remarks, including the plan for bond buybacks next month. Then, TerraPower CEO Chris Levesque, discusses his company's plan to build a second nuclear power plant in the US this year. Plus, Bloomberg News Toronto Bureau Chief Melissa Shin breaks down President Trump's latest tariff actions on Canada and threats to escalate the trade fight. Chapters 00:00:00 Bloomberg Businessweek Daily 00:01:54 Market Update: Stocks, Oil & Semiconductors 00:03:45 Bessent's Campaign to Isolate Iran 00:05:10 Can New Sanctions Actually Change Iran's Behavior? 00:07:46 Treasury Buybacks & the Bond Market 00:10:03 Economy, Midterms & Voter Concerns 00:11:02 Kevin Warsh Heads to Jackson Hole 00:13:12 Iran Sanctions, Oil Prices & Affordability 00:14:15 Can Treasury Buybacks Bring Rates Down? 00:17:19 What Voters Want to See From the Economy 00:20:54 TerraPower's Nuclear Push for Data Centers 00:23:35 AI Demand Drives a New Nuclear Buildout 00:25:03 How Big Tech Is Changing Nuclear Financing 00:28:10 When Will Nuclear Power Get Cheaper? 00:29:40 Data Centers' Growing Need for Clean Power 00:32:36 Market Update: Semiconductors & Oil 00:34:25 Canada Prepares to Retaliate Against U.S. Tariffs 00:35:36 U.S.-Canada Trade Talks Break Down 00:37:56 Economic Impact of Canada's Tariff Fight 00:39:15 Mark Carney's Political Support in Canada 00:42:36 Market Check: Nvidia & Semiconductor Selloff 00:43:42 Stock Movers: Expedia & Canada Goose 00:46:04 Hims & Hers Drops on Customer Complaints -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect with Bloomberg Television on: X: https://twitter.com/BloombergTV Facebook: https://www.facebook.com/BloombergTelevision Instagram: https://www.instagram.com/bloombergtv/ Connect with Bloomberg Business on: X: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness Instagram: https://www.instagram.com/bloombergbusiness/ TikTok: https://www.tiktok.com/@bloombergbusiness?lang=en Reddit: https://www.reddit.com/r/bloomberg/ LinkedIn: https://www.linkedin.com/company/bloomberg-news/ More from Bloomberg: Bloomberg Radio: https://twitter.com/BloombergRadio Bloomberg Surveillance: https://twitter.com/bsurveillance Bloomberg Politics: https://twitter.com/bpolitics Bloomberg Originals: https://twitter.com/bbgoriginals Watch more on YouTube: Bloomberg Technology: https://www.youtube.com/@BloombergTechnology Bloomberg Originals: https://www.youtube.com/@business Bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake Bloomberg Espanol: https://www.youtube.com/@bloomberg_espanol Bloomberg Podcasts: https://www.youtube.com/@BloombergPodcasts