"Balance of Power: Late Edition" focuses on the intersection of politics and global business. On today's show, Representative Gregory Meeks (D-NY), says even senior lawmakers lack clarity on the administration’s Iran strategy, warning that disruption in the Strait of Hormuz could push the US economy toward a recession. American Petroleum Institute President and CEO Mike Sommers says a prolonged closure of the Strait of Hormuz would keep global oil prices elevated and drive continued pain at the pump for US consumers, emphasizing that reopening the waterway is critical to stabilizing costs.