US & Iran Move Closer to Conflict, Stocks Slump on Iran Worries, More
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What military actions is the U.S. taking against Iran?
The U.S. continues to build a massive force in the Middle East to put pressure on Iran with two aircraft carriers, including the world's largest, the Gerald R. Ford, hundreds of fighter jets and refueling tankers, along with thousands of troops, giving President Trump the option for a major attack against the Islamic Republic. Trump speaking on Air Force One says there's a short timeline for Iran to agree to a deal.
We're either going to get a deal or it's going to be unfortunate for them. I would think that would be enough time, 10, 15 days, pretty much maximum.
Trump earlier, while speaking at the White House, says the Islamic Republic cannot be allowed to go nuclear.
And we do have some work to do with Iran. They can't have a nuclear weapon. It's very simple. You can't have peace in the Middle East if they have a nuclear weapon. And they can't have a nuclear weapon, and they've been told that very strongly.
Meanwhile, oil jumped on the reports that the U.S. may be edging closer to war with Iran than many Americans might think, with West Texas Intermediary hitting close to $66.40 a barrel. Meanwhile, President Trump's board of peace set up to secure an end to the war in Gaza met for the first time in Washington. Trump says the board received roughly $17 billion in pledges toward humanitarian and reconstruction efforts in Gaza, with the U.S. contributing $10 billion. The president also announcing that more than half a dozen countries have promised personnel toward a stabilization force in the Palestinian enclave.
Albania, Kosovo, Kazakhstan have all committed troops and police to stabilize Gaza. Egypt and Jordan are likewise providing. very, very substantial help, troops, training, and support for a very trustworthy Palestinian police force.
Trump also says that son-in-law Jared Kushner will be a, quote, envoy of peace. Disgraced former Prince Andrew, the brother of the U.K. 's King Charles III, was arrested on suspicion of misconduct in public office after further details emerged about his relationship with convicted sex offender Jeffrey Epstein. Host of Bloomberg's The Michelle Hussain Show gives more details into what the British police may be looking for.
Even though they have taken steps to distance themselves from Andrew Mountbatten, Windsor... this will no doubt be a really difficult moment. You know, public support for the monarchy is widespread in this country, but it does rather depend on an unspoken assumption that everyone is going to behave really well. And when you're in this kind of territory, it obviously has implications for the institution more widely than one individual.
That's Bloomberg's Michelle Hussain. Federal Reserve Bank of Minneapolis President Neil Kishkari says recent comments by National Economic Council Director Kevin Hassett, which were critical of a New York Fed study on tariffs, undermines the central bank's independence.
Over the last year, we've seen multiple attempts to try to compromise the Fed's independence, including in December when the Department of Justice served a subpoena to the Board of Governors over some building expenses. It's really about monetary policy, that we are doing our very best to make the best assessment of the economy based on data and analysis.
That's Federal Reserve Bank of Minneapolis President Neil Kashkari. Hassett had called the study, which showed U.S. companies were bearing most of the burden from President Trump's tariff hikes, an embarrassment. Federal Reserve Governor Stephen Myron now believes the Fed should not cut rates as deeply as he has previously called for based on recent data showing a stronger economy.
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