US and Iran Trade Fresh Strikes, Remembering Lindsey Graham, More
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News when you want it with Bloomberg News Now. I'm Karen Moscow. Escalation in the Middle East. The U.S. and Iran have exchanged fresh strikes over the weekend. Owner Ant is Bloomberg Managing Editor for the Middle East.
It is the most serious escalation since the interim agreement signed between Iran and the U.S. in June intended to bring the war to a lasting end. We are seeing Iranian retaliation to U.S. counterstrikes uh expanding both in terms of their geographic uh reach and intensity um as of this morning we have seen uh iranian attacks uh in jordan uh in oman bahrain uh kuwait uh and uh qatar and the uae over the weekend so it is definitely the most serious test yet uh that this interim agreement between the us and iran has faced since the signing in mid-June.
Bloomberg managing editor-owner Antz says shipping through the Strait of Hormuz is at the heart of the latest escalation. A handful of ships have passed through the Strait of Hormuz in secret in recent days. Here in the U.S., tributes continue to pour in for the late Republican Senator Lindsey Graham. The senior senator from South Carolina died on Saturday, a day after returning to Washington from his 10th trip to Kiev. President Trump says he spoke to Graham on the phone hours before he died
Think of it. He's traveling for many, many hours. That's a long flight.
How did US and Iran exchange fresh strikes over the weekend?
That's a long trip. And he, you know, calls me about the Save America Act. He thought we were going to get it passed.
President Trump spoke on NBC's Meet the Press or at Sundays on Bloomberg Radio. Graham had actually been scheduled to appear on the show this weekend. His office says he likely died of a torn aorta, according to a preliminary medical examiner's report. Senator Graham is being remembered as a staunch interventionist on the world stage and a strong backer of Israel. We get more on that from Bloomberg News congressional reporter Eric Walson.
He was very much in favor of the bombing of Iran, of trying to replace the regime there. Just a very assertive foreign policy voice that's going to leave that faction of the party without a very, very clear champion right now.
And Bloomberg's Eric Watson appeared on Bloomberg this weekend, heard every Saturday and Sunday morning on Bloomberg Radio and Television. Graham was also a strong advocate for Ukraine's defense, and his death could leave Kiev and other U.S. allies looking for new advocates. Several Democratic senators are calling for passing a new Russia sanctions bill as a tribute to Senator Graham. As Washington continues to mourn Senator Graham, former Senate Republican Leader Mitch McConnell has broken his silence about his own health. McConnell issued a statement saying he suffered a fall last month and developed pneumonia that required him to stay in the hospital. He says he's been transferred to a rehab center but still is not healthy enough to return to the Senate.
McConnell has not been seen since June 14th. His lengthy absence led to growing calls for more details about his condition. Ukrainian President Volodymyr Zelensky is due in Paris for talks with European leaders about further support against Russia's invasion. The war is now in its fifth year. European foreign ministers are also meeting in Brussels to discuss Ukraine's needs. On the economic front, Fed Chair Kevin Walsh is set to testify on Capitol Hill this week, and Bloomberg's Monica Ricks has the details.
Kevin Warsh will make his first appearance before Congress as Federal Reserve Chairman with new U.S. inflation data to parse with lawmakers during two days of testimony. First, before the House Financial Services Committee tomorrow, which will be preceded by June consumer price figures from the Bureau of Labor Statistics.
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