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Chapter 1: What are the details of the U.S.-Iran ceasefire agreement?
Live from NPR News in Washington, I'm Ryland Barton. The terms of a ceasefire between the U.S. and Iran are now public. NPR's Quill Lawrence reports they would reopen the Strait of Hormuz and end hostilities between the U.S., Iran, Israel, and Hezbollah.
A senior Trump administration official whom reporters agreed not to identify read out the memorandum of understanding that is expected to be signed soon. It would reopen the Strait of Hormuz to oil tankers, an urgent economic and political priority as oil and other commodities have surged in price.
Iran could begin to sell its own oil, and billions of dollars in frozen Iranian assets could be released if subsequent agreements like Iran ending its nuclear weapons program are followed. The official also said if Iran doesn't live up to its end, the U.S. could easily resume bombing.
Israel is not a party to the agreement, but it could be a spoiler if Washington cannot restrain the Israeli government from attacking Iran's proxy force in Lebanon. Quill Lawrence, NPR News.
With inflation at its highest level in more than three years, the Federal Reserve held its benchmark interest rate steady today, and the Fed hinted its next move could be a rate increase. It was the first rate decision under the leadership of the new Fed chairman, Kevin Warsh. President Trump expressed disappointment in the decision today.
It just keeps the country down. It's so unusual. But we have a very good guy over there now, so I'm guided by what he wants.
Trump nominated Warshin hopes he would push for lower interest rates, but a wartime spike in energy prices has pushed rate cuts off the table for now. Luigi Mangione will assert a psychiatric defense at his murder trial for the killing of UnitedHealthcare CEO Brian Thompson.
Mangione's lawyers told the court they will attempt to show that he was suffering from, quote, extreme emotional disturbance at the time of the occurrence. If a jury agrees, it could convict him of manslaughter instead of murder, meaning he'd be sentenced to less time in prison.
The cost to rent an apartment was down in May, one and a half percent from a year ago, according to a new report from Realtor.com. NPR's Stephen Basaja says that's due to an apartment construction boom.
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Chapter 2: How is the Federal Reserve responding to inflation concerns?
An archaeological dig at the site of the Battle of Bunker Hill has revealed ammunition used in the fight, along with the outlines of an earthen fort built to protect the Patriots fighting the British. Celebrations will soon take place commemorating the 251st anniversary of the battle. This is NPR.
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