Iran says it is considering whether Presidents Masoud Pezeshkian and Donald Trump should sign a Swiss memorandum of understanding opening 60 days of negotiations. The draft framework covers a halt to military operations, sanctions relief, Iran’s nuclear program and Strait of Hormuz shipping.
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The Federal Reserve unanimously held interest rates at 3.5% to 3.75% in Kevin Warsh’s first meeting as chair. New projections showed inflation expectations rising and nearly half of policymakers open to a rate hike later this year.
Georgia House Republican leaders said they will not take up redistricting during Gov. Brian Kemp’s special session, saying the process requires more time and public input. Kemp said he saw no reason to delay but acknowledged the General Assembly controls legislative districting.
Janeese Lewis George leads Kenyan McDuffie in Washington, D.C.’s unsettled Democratic mayoral primary as officials count ballots under the city’s first ranked-choice primary system. The race has centered on affordability, public safety and how the next mayor would confront federal pressure over D.C. home rule.
Brent crude fell to its lowest level since early March as markets anticipated a US-Iran framework agreement that could reopen the Strait of Hormuz. Shipping groups and analysts warned that restoring normal energy flows could still take weeks or months.
Israeli strikes in southern Lebanon continued after President Donald Trump urged Benjamin Netanyahu to be more restrained. The attacks have added pressure to an undisclosed US-Iran agreement that mediator Pakistan says includes Lebanon.
Kevin Warsh chairs his first Federal Reserve rate meeting as inflation rises and energy prices remain elevated after the U.S.-Iran conflict. Investors will watch the policy statement, news conference and dot plot for signs of the new chairman’s approach.