# Trump Dismisses ‘Little War’ With Iran, Woman Shot Dead by NYPD

An episode of [Bloomberg Daybreak: US Edition](https://invisiblenetwork.ai/podcast/1663860720), 1 Sep 2026, 16 min.

Audio: https://podtrac.com/pts/redirect.mp3/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/d15648c4-cee0-4e99-a5ca-af80014d921d/8cf31368-0371-456f-9a0a-b4b8009d79a9/audio.mp3?utm_source=Podcast&in_playlist=65ce2954-d8a8-4c66-9f42-af80014d923e

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) President Donald Trump dismissed concerns that the conflict in Iran was draining American firepower as clashes resumed in the on-again off-again hostilities that have stretched more than six months, with neither side willing to restart negotiations to end the war.“This is a relatively little war for us,” Trump told reporters on Monday. “This is not a big war.” 2) A woman randomly stabbed two people in New York City’s Times Square on Monday, killing one woman, and then was fatally shot by police, according to officials.The shooting happened just before 4:30 p.m. next to a New York Police Department substation, just outside One Times Square, the building that hosts the city’s annual New Year’s Eve ball drop celebration. It is one of the most heavily touristed and policed spots in all of New York. 3) US Army Secretary Dan Driscoll is stepping down after repeated clashes with his boss, Pete Hegseth, leaving the service without several top leaders even as the conflict with Iran continues.Driscoll submitted his resignation to President Donald Trump, according to a person familiar with the matter who asked not to be identified. His decision was first reported by the Wall Street Journal. See omnystudio.com/listener for privacy information.

## Transcript

[0:02] Speaker 1: Bloomberg Audio Studios.
[0:04] Speaker 2: Podcasts.
[0:05] Speaker 3: Radio. News.
[0:10] Speaker 1: Good morning, I'm Nathan Hager. And I'm Karen Moscow. Here
[0:13] Speaker 1: are the stories we're following today.
[0:16] Speaker 4: Karen, we begin with the latest from the Middle East
[0:17] Speaker 4: and new attacks this morning near the Strait of Hormuz.
[0:20] Speaker 4: The maritime security consultant Marisks says two oil supertankers were
[0:24] Speaker 4: hit with unknown projectiles this morning in quick succession while
[0:28] Speaker 4: transiting the choke point near Oman. This follows the first U.S.
[0:33] Speaker 4: strikes on Iran in about a month. At the White House,
[0:36] Speaker 4: President Trump says Iran is a failed nation.
[0:38] Speaker 5: Their leaders are largely dead. Their Navy is gone. Their
[0:43] Speaker 5: Air Force is gone. Their surveillance equipment is almost entirely gone.
[0:50] Speaker 5: That doesn't mean we won't smack them.
[0:53] Speaker 4: President Trump is dismissing concerns that the return to conflict
[0:56] Speaker 4: would drain U.S.
[0:57] Speaker 1: Firepower.
[0:57] Speaker 4: He says it's a, quote, relatively little war for us.
[1:00] Speaker 4: But the war is flaring up as we hear from
[1:02] Speaker 4: Bloomberg Middle East correspondent Abir Abu Omar in Dubai.
[1:05] Speaker 6: We saw the first military strikes in the region for
[1:08] Speaker 6: the first time since July. So in over a month,
[1:11] Speaker 6: really bringing back those tensions in the region. Iran retaliating
[1:15] Speaker 6: against the initial U.S. strike by hidden countries in the region,
[1:18] Speaker 6: namely Jordan and territorial waters in the United Arab Emirates.
[1:23] Speaker 4: Meanwhile, Bloomberg's Abir Abu Omar reports Iran's president is calling
[1:27] Speaker 4: on the U.S. once again to return to the interim
[1:29] Speaker 4: peace deal that both sides agreed to in June. He
[1:32] Speaker 4: tells Iran's state television his country will reciprocate if the U.S.
[1:35] Speaker 7: Does so.
[1:36] Speaker 1: Well, Nathan, as the war continues, the army is losing
[1:39] Speaker 1: its top civilian leader. A source confirms to Bloomberg, Army
[1:43] Speaker 1: Secretary Dan Driscoll has submitted his resignation to President Trump.
[1:47] Speaker 1: Driscoll had clashed repeatedly with Defense Secretary Pete Hegseth over
[1:51] Speaker 1: personnel and leadership decisions. He reportedly resisted efforts to remove
[1:55] Speaker 1: women and black officers, among others, from promotion lists. Driscoll's
[1:59] Speaker 1: departure comes nearly a year after Hegseth fired Army Chief
[2:03] Speaker 1: of Staff Randy George. The two work closely together on
[2:07] Speaker 1: efforts to modernize the Army and often tag team on
[2:10] Speaker 1: speaking engagements. With both leaders gone, the Army now has
[2:14] Speaker 1: no Senate-confirmed leadership.
[2:16] Speaker 4: In New York City, Karen, a woman randomly stabbed two
[2:19] Speaker 4: people in Times Square, killing one of them and wounding
[2:22] Speaker 4: the other. This happened just before 4.30 p.m. next to
[2:26] Speaker 4: a New York City Police Department substation just outside 1
[2:29] Speaker 4: Times Square. That's the building that hosts the city's annual
[2:33] Speaker 4: New Year's Eve ball drop celebration. Here's New York City
[2:36] Speaker 4: Police Commissioner Jessica Tisch.
[2:38] Speaker 8: During the encounter, she told the officers, quote, I'm not
[2:42] Speaker 8: dropping anything.
[2:43] Speaker 1: I would rather kill both of you. She repeated, I
[2:47] Speaker 1: will kill you.
[2:48] Speaker 4: A police shot and killed the 49-year-old woman from Queens.
[2:51] Speaker 4: They say she had mental health issues.
[2:54] Speaker 1: In Massachusetts, Nathan, Democrats will decide the latest head-to-head matchup
[2:59] Speaker 1: between the party's moderate and progressive wings with a recurring theme,
[3:03] Speaker 1: progressives versus moderates and longtime incumbents versus significantly younger challengers.
[3:09] Speaker 1: Bloomberg's Amy Morris reports.
[3:12] Speaker 9: Senator Ed Markey faces a competitive Democratic primary challenge from
[3:15] Speaker 9: Representative Seth Moulton in his bid for a third full term. Markey,
[3:20] Speaker 9: who turned 80 in July, is the second oldest sitting
[3:23] Speaker 9: senator seeking re-election in 2026. Moulton is a six-term congressman
[3:28] Speaker 9: who will turn 48 in October. Markey has had a
[3:31] Speaker 9: slight financial advantage, raising and spending more than $ 8 million,
[3:35] Speaker 9: compared with Moulton's $ 6 million. Massachusetts voters will also choose
[3:38] Speaker 9: nominees for U.S. House, governor, and several state and local offices.
[3:43] Speaker 9: Amy Morris, Bloomberg Radio.
[3:45] Speaker 4: All right, Amy, thank you. Well, back in Washington, President
[3:47] Speaker 4: Trump has scored a major legal victory in his bid
[3:49] Speaker 4: to keep building a White House ballroom. The Supreme Court
[3:52] Speaker 4: is letting the construction continue for now. Brushing aside two
[3:56] Speaker 4: lower court rulings that the project probably violates the law.
[3:59] Speaker 4: Bloomberg Legal Reporter Zoe Tillman has more.
[4:02] Speaker 10: What it came down to was whether the historic preservation
[4:05] Speaker 10: group that sued had standing to bring this case in
[4:08] Speaker 10: the first place. And lower courts had determined that they did.
[4:13] Speaker 10: And the justices here determined that they were likely to
[4:15] Speaker 10: lose on that question.
[4:17] Speaker 4: Bloomberg's Zoe Tillman reports Chief Justice John Roberts joined with
[4:19] Speaker 4: the court's three liberals in arguing that Congress needed to
[4:22] Speaker 4: give express authority for the construction. The majority did not
[4:26] Speaker 4: rule on the merits of whether the ballroom project is lawful.
[4:29] Speaker 4: White House says it's 65 percent complete. and is on
[4:32] Speaker 4: track for full completion by August of 2028.
[4:35] Speaker 1: Well, let's turn to the markets now, Nathan, where global
[4:38] Speaker 1: bond yields are jumping to the highest levels in almost
[4:41] Speaker 1: two decades. And Bloomberg's John Tucker joins us with the
[4:43] Speaker 1: very latest. John, good morning.
[4:45] Speaker 11: Good morning, Karen. The yield on a Bloomberg gauge of
[4:47] Speaker 11: global sovereign bonds has advanced to 3.72%. Now, that's the
[4:52] Speaker 11: highest since mid-2008. The latest catalyst driving yields higher has
[4:57] Speaker 11: been Fed Chair Kevin Warsh's speech Friday, where he doubled
[5:00] Speaker 11: down on his vow to finally tame inflation. Now, if
[5:03] Speaker 11: Treasury Secretary Scott Besson is worried, he didn't betray that
[5:07] Speaker 11: during an interview on CNBC.
[5:10] Speaker 7: U.S.
[5:10] Speaker 3: Bond market this month will have been the best performing
[5:13] Speaker 3: bond market. The 30-year, the yield is down. The 10-year,
[5:18] Speaker 3: the yield is flat. No other major bond market can
[5:21] Speaker 3: say that.
[5:21] Speaker 11: Not since 2006 have yields on the longest maturity U.S. Treasuries.
[5:26] Speaker 11: been this high for this long. Inflation and the size
[5:29] Speaker 11: of deficits around the world are leading traders to demand
[5:33] Speaker 11: more compensation for holding bonds. In New York, I'm John Tucker,
[5:36] Speaker 11: Bloomberg Radio. All right, John, thank you.
[5:38] Speaker 4: As for stocks, futures are lower this morning following the
[5:42] Speaker 4: escalation in the Middle East. And as we begin a
[5:44] Speaker 4: new trading month, September is historically not always a good
[5:48] Speaker 4: one for the bulls. We get more from Bloomberg Markets
[5:50] Speaker 4: reporter Bailey Lipschultz.
[5:52] Speaker 8: Over the last three decades, the S & P 500
[5:54] Speaker 8: has lost almost 1% in the month of September. And
[5:58] Speaker 8: that does mean a big test for the S &
[6:00] Speaker 8: P 500 and other stocks, especially where we're seeing chip makers,
[6:05] Speaker 8: the likes of NVIDIA, AMD. The big talk of the
[6:08] Speaker 8: town has been pulling off their levels that we saw
[6:11] Speaker 8: back in the early 2000s. in the June and July timeframe,
[6:13] Speaker 8: hitting a bit of resistance. And that's forcing equity bulls
[6:16] Speaker 8: to kind of rethink what the rest of the year
[6:18] Speaker 8: could look like. We have what could be a live
[6:21] Speaker 8: Fed meeting in the middle of the month, and that's
[6:23] Speaker 8: driving investors and some analysts to recommend that investors look
[6:26] Speaker 8: towards the SPW and Equal Weighted Index, which is spread
[6:30] Speaker 8: across those 500 companies and not as concentrated on the
[6:34] Speaker 8: AI trend that we've been seeing really power this entire
[6:38] Speaker 8: market higher this year to seemingly endless record highs.
[6:41] Speaker 4: Bloomberg's Bailey Lipschultz notes the Philadelphia Stock Exchange Semiconductor Index
[6:46] Speaker 4: is still about 22% below its peak.
[6:49] Speaker 1: Nathan, it's a new era at Apple. Tim Cook has
[6:52] Speaker 1: handed the reins to John Ternes, who takes over as
[6:54] Speaker 1: CEO today. Bloomberg's Tom Busby has details.
[6:58] Speaker 2: Now, former Apple CEO Tim Cook told employees in a
[7:01] Speaker 2: letter Monday he'll miss the role he's had as chief
[7:03] Speaker 2: executive of the world's second largest company for 15 years,
[7:06] Speaker 2: but says he has, quote, enormous comfort in the leadership
[7:10] Speaker 2: of his replacement, John Ternes. Now, Ternes joined Apple in
[7:13] Speaker 2: 2001 on the product design team, became VP of hardware
[7:16] Speaker 2: engineering in 2013. and was promoted to senior VP of
[7:20] Speaker 2: that same unit in 2021. The challenge for Ternus now,
[7:24] Speaker 2: innovating with new products, features, and apps, growing sales and services,
[7:28] Speaker 2: and accelerating Apple's AI offerings. Tom Busby, Bloomberg Radio.
[7:32] Speaker 1: All right, Tom, thank you. And by the way, Apple shares,
[7:35] Speaker 1: they've soared 2,275% since Cook took over from legendary founder
[7:38] Speaker 1: Steve Jobs in 2011. Time now for a look at
[7:47] Speaker 1: some of the other stories making news in New York
[7:49] Speaker 1: and around the world. And for that, we're joined by
[7:51] Speaker 1: Bloomberg's Michael Barr. Michael, good morning.
[7:54] Speaker 7: Good morning, Karen. The number of people killed in catastrophic
[7:57] Speaker 7: floods in Nepal and China has risen above 1,000. Authorities
[8:01] Speaker 7: in Nepal said more than 3,900 people remain missing, including
[8:05] Speaker 7: 583 foreigners. Close to 12,000 people have been rescued so far.
[8:11] Speaker 7: The bodies of two friends, a Texas chiropractor and a
[8:14] Speaker 7: martial arts studio owner, have been found after a major
[8:17] Speaker 7: flash flood swept through the Grand Canyon. Officials said that
[8:21] Speaker 7: one person remains unaccounted for after about 80 others were rescued,
[8:25] Speaker 7: including Dan Evans. He says he was airlifted from the
[8:28] Speaker 7: north rim of the canyon.
[8:30] Speaker 12: It sounded like a train, which is unusual for the canyon.
[8:34] Speaker 12: You know, it's pretty quiet down there generally. And it
[8:37] Speaker 12: just sounded like boulders were falling down the canyon, like
[8:40] Speaker 12: maybe a train was coming and it was getting closer
[8:42] Speaker 12: and closer.
[8:43] Speaker 7: Evans says he plans to keep hiking. A developing system
[8:47] Speaker 7: along the Gulf Coast may strengthen to a tropical storm
[8:50] Speaker 7: and make landfall later today. Millions along the Gulf Coast
[8:53] Speaker 7: expect heavy rain, dangerous storm surge, and flash flooding to
[8:57] Speaker 7: parts of Texas and Louisiana. Texas Governor Greg Abbott. If
[9:01] Speaker 7: you don't have to be driving around Do not drive
[9:05] Speaker 7: through what should be very heavy rain in around the
[9:09] Speaker 7: Harris County area. Many Houston area schools plan to be
[9:12] Speaker 7: closed today. A former gang leader was convicted of murder
[9:15] Speaker 7: for orchestrating the drive-by killing of hip-hop legend Tupac Shakur
[9:19] Speaker 7: in Las Vegas. Dwayne Davis was found to have a
[9:22] Speaker 7: gun and ordered a fellow gang member to shoot Shakur
[9:25] Speaker 7: in 1996. Davis wrote a self-published memoir on the shooting
[9:28] Speaker 7: in 2019. Jurors in Massachusetts will continue their deliberations today
[9:33] Speaker 7: in the Lindsay Clancy murder trial. The jury has to
[9:36] Speaker 7: determine whether Clancy is criminally responsible for strangling her three
[9:39] Speaker 7: children back in 2023. Her attorneys say she was suffering
[9:43] Speaker 7: from postpartum psychosis. Global News, 24 hours a day and
[9:48] Speaker 7: whenever you want it. With Bloomberg News Now, I'm Michael
[9:50] Speaker 7: Barr and this is Bloomberg. Karen.
[9:53] Speaker 1: Thanks, Michael. Time now for our Bloomberg Sports Update. And
[9:56] Speaker 1: for that, we bring in John Stashower.
[9:58] Speaker 12: Thanks, Karen.
[9:59] Speaker 13: The Cubs improve. played at Wrigley Field, and the Cubs
[10:01] Speaker 13: hit nine home runs. That's the second most in a
[10:04] Speaker 13: Major League game ever. Alex Bregman had his second three-home
[10:08] Speaker 13: run game of the last three weeks. The Cubs beat
[10:10] Speaker 13: the Brewers 17-3.
[10:13] Speaker 7: At the U.S.
[10:13] Speaker 13: Open, the defending champions took the court in Irina Sabalenka.
[10:16] Speaker 13: One of the straight sets, she's going for a U.S.
[10:18] Speaker 13: Open three-peat. And Carlos Alcaraz victorious in his return after
[10:23] Speaker 13: missing the last five months with a wrist injury. That's
[10:25] Speaker 13: your Bloomberg Sports Update.
[10:28] Speaker 1: Stay with us. More from Bloomberg Daybreak coming up after this.
[10:35] Speaker 2: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,
[10:40] Speaker 2: and around the world on Bloomberg.com and the Bloomberg Business App.
[10:44] Speaker 1: This is Bloomberg Daybreak. Good morning.
[10:46] Speaker 4: I'm Nathan Hager, and there are new reports of attacks
[10:49] Speaker 4: near the Strait of Hormuz after the first round of
[10:51] Speaker 4: strikes between the U.S. and Iran in about a month.
[10:53] Speaker 4: President Trump is dismissing the impact on American firepower, saying
[10:57] Speaker 4: it's Iran that needs to worry.
[10:59] Speaker 5: They're a failed nation. They've got 350 percent inflation. They
[11:04] Speaker 5: have no currency. They're not paying their soldiers. Their leaders
[11:09] Speaker 5: are largely dead.
[11:10] Speaker 4: That was President Trump speaking to reporters in the Oval Office.
[11:13] Speaker 4: And joining us this morning from Istanbul is Bloomberg Middle
[11:16] Speaker 4: East breaking news editor Patrick Sykes. Patrick, update us on
[11:20] Speaker 4: what's happening in and around the Strait of Hormuz this morning.
[11:23] Speaker 7: Good morning. Good morning.
[11:25] Speaker 14: Yeah, we've got two oil supertankers that have been struck
[11:28] Speaker 14: by projectiles over the past few hours in the area
[11:34] Speaker 14: of the Strait of Hormuz. Both of them appear to
[11:36] Speaker 14: have been using the southern corridor through the strait. That's
[11:40] Speaker 14: the one close to Amman's coast rather than close to
[11:44] Speaker 14: Iran's on the far side of the strait. I think
[11:47] Speaker 14: what it points to is Iran and the U.S. really
[11:51] Speaker 14: stepping up the battle over who claims control over the strait.
[11:58] Speaker 14: In the past week or so, we've had Trump saying
[12:01] Speaker 14: that the U.S. has successfully demined it. Iran has come
[12:05] Speaker 14: out and denied that. Iran is very conscious that its
[12:09] Speaker 14: main leverage in this war is its ability to exert
[12:12] Speaker 14: control over the Strait. And every barrel, every tanker of
[12:17] Speaker 14: oil that the U.S. military is able to safely escort
[12:20] Speaker 14: out is eroding that leverage. And Iran is trying to
[12:24] Speaker 14: push back and reclaim some of it.
[12:27] Speaker 4: We're seeing a reaction in the oil market this morning
[12:30] Speaker 4: with both Brent and West Texas Intermediate crude up around 2%.
[12:34] Speaker 4: What's the signal that we're getting in the commodities markets
[12:37] Speaker 4: about where this could go from here?
[12:40] Speaker 14: I think all is reacting to that step up in attacks.
[12:45] Speaker 14: Of course, in the past couple of days, we also
[12:47] Speaker 14: had the U.S. attacking the Iranian mainland for the first
[12:50] Speaker 14: time in about a month. So while the baseline remains
[12:55] Speaker 14: kind of fairly low intensity, we have seen these upticks increase.
[13:00] Speaker 14: of increasing intensity and at increasing frequency. So I think
[13:05] Speaker 14: taken together, that points to the fact that fundamentally the
[13:09] Speaker 14: two sides are still very far apart on the outlook
[13:13] Speaker 14: for the Strait of Hormuz. Iran, for its part, was
[13:16] Speaker 14: saying today that If the U.S. were to return to
[13:20] Speaker 14: the memorandum of understanding that sets up the initial ceasefire
[13:24] Speaker 14: back in June, that it would reciprocate in kind. So
[13:28] Speaker 14: there is clearly still an interest in a diplomatic solution.
[13:34] Speaker 14: But for the moment, we've got the U.S. preferring to
[13:38] Speaker 14: go down this route of economic pressure rather than trying
[13:42] Speaker 14: to return to the framework of the MOU.
[13:44] Speaker 4: With that in mind, with the economic pressure still being
[13:47] Speaker 4: brought to bear, is there a sense here that with
[13:50] Speaker 4: these latest comments that we're hearing from whatever side of
[13:53] Speaker 4: Iran's leadership is speaking out publicly, that there could be
[13:56] Speaker 4: room for diplomacy?
[13:57] Speaker 1: We've got about 30 seconds left.
[14:00] Speaker 14: I think Iran will always be happy to, you know,
[14:01] Speaker 14: take the message. And if there were a scope for
[14:05] Speaker 14: a return to the MOU, that would be a solution
[14:08] Speaker 14: that it's happy to take. In the meantime, what it's
[14:11] Speaker 14: trying to do is push back on the idea that
[14:13] Speaker 14: the U.S. can unilaterally pressure Iran's economy. The Iranian president
[14:17] Speaker 14: is at the Shanghai Corporation Organization Summit this week and
[14:22] Speaker 14: is meeting with as many world leaders, China, Russia, India,
[14:26] Speaker 14: that he can in order to shore up both diplomatic
[14:30] Speaker 14: support through the photo opportunities and everything that comes with it,
[14:33] Speaker 14: and some hopefully comments on a positive outlook for trade
[14:38] Speaker 14: in spite of that U.S.
[14:39] Speaker 9: Pressure.
[14:42] Speaker 1: This is Bloomberg Daybreak, your morning podcast on the stories
[14:45] Speaker 1: making news from Wall Street to Washington and beyond.
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[15:28] Speaker 1: And I'm Nathan Hager.
[15:29] Speaker 4: Join us again tomorrow morning for all the news you
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