US War With Iran Hits Six Month Mark | Balance of Power 08/28/2026

"Balance of Power: Late Edition" focuses on the intersection of politics and global business. On today's show, Mattie Duppler, Senior Fellow for Fiscal Policy at the National Taxpayers Union, says Fed Chair Kevin Warsh’s comments on interest rates were the “least interesting” part of his Jackson Hole speech and points instead to his focus on the availability of credit. Democratic Representative Lori Trahan of Massachusetts discusses her bipartisan FRONTIER Act, which aims to create federal oversight of the most advanced AI models through reporting, independent audits, and emergency safeguards. Sec. Leon Panetta, former US Secretary of Defense, says the US is “now trapped in another forever war” with Iran after six months of fighting with “no end in sight.” Chapters: 00:02:16 Bloomberg's Mike McKee on What Could Move the Fed in September? 00:06:15 Mattie Duppler, Senior Fellow for Fiscal Policy at the National Taxpayers Union, on Warsh, Inflation and the Economic Outlook 00:09:51 Mattie Duppler on Trump’s Push for Lower Interest Rates 00:12:16 Mattie Duppler on US Debt Crosses $40 Trillion 00:15:02 Power Moves: Top Financial Moves 00:18:02 Rep. Lori Trahan (D-MA) on the Frontier Act 00:20:07 Rep. Lori Trahan (D-MA) on Frontier Act Pushback 00:24:18 Bloomberg's Eric Martin on US Eyes Major Stake in Venezuelan Oil Fields 00:30:33 Leon Panetta, Former US Secretary of Defense, on US-Iran War Reaches Six-Month Mark 00:34:06 Sec. Leon Panetta on US Military Clears Mines in Strait of Hormuz 00:36:54 Sec. Leon Panetta on CIA Diplomacy With Russia and Putin 00:40:38 Political Panel Reacts: Beef Prices and the Affordability Debate, Midterm Politics and Consumer Frustration, Pete Hegseth Reportedly Eyes 2028 Presidential Run -------- 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