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It now has signatures from both sides. I'm Dave Anthony, Fox News. The U.S. iran agreement ending the current conflict, reopening the Strait of Hormuz and preventing Iran from ever obtaining a nuclear weapon. That's what was all about. And President Trump says if Iran doesn't abide by it, he can go back to bombing. And when signing it after the G7 summit in France, he said he wanted to avoid an economic catastrophe. Iran's president also signed it. The United States will fully end the naval blockade of Iran ports. The Iranians will ensure safe shipping passage in the Strait of Hormuz and no charge of tolls for at least 60 days. There is going to be a reconstruction plan with many Gulf allies. This is going to be discussed in the days ahead. And the US Will agree to end many sanctions on a schedule. This is going to be a tiered system. The Iranians aren't going to receive all of this relief at once. It will be performance based foxes. Trey Yingst in Tel Aviv. Democrats and some Republicans in Congress critical of the concessions to Iran. War Secretary Pete Hegseth is at a NATO meeting in Brussels urging allies do more. NATO 3.0 is post cold War recognition that needs to go back to a real hardline military alliance. And amid questions about the U.S. defense of Europe. Poland, where about 10,000American troops are stationed, wants a permanent presence. It yesterday approved steps to allow such a base. And the country's deputy defense minister says the United States has expressed interest the two nations would share the cost. The Trump administration has described Poland as a model ally, but last month suddenly halted a deployment of 4,000 troo. That's Fox's Jonathan Savage. The first tropical storm in the Atlantic this season forming off the Texas coast is no longer a storm. Arthur's weakened to a post tropical cyclone, but it's still an issue moving inland. Still some tornado warnings, some flood warnings now moving up towards the New Orleans area. As we're going to see Arthur continue to kind of batter the coast of the Gulf coast, probably flooding for the next couple of days. FOX meteorologist Adam Klotz. America's listening to FOX News. Who helps America go farther, fly higher, dream even bigger? People do. Since 1879, our people have been more than a source of energy. They've been a source of progress. Today that same progress is helping deliver record US Energy production, fueling the workers, the makers, the boundary pushers and risk takers who spark the breakthroughs that move America forward. Learn more about what our people do@chevron.com USA250. The US Iran agreement aims to end a conflict that started with military action. Operation Epic Fury ran from late February into April. Ceasefire. A Senate hearing focused on the army and modernizing it for future warfare. Republican Senator Kevin Kramer of North Dakota framed the modernization challenge this way. The battlefield is evolving in days or months rather than decades. Jesse Tolleson is the assistant secretary of the army for acquisition, logistics and policy. He explained further why speed matters. The army must be able to integrate new capabilities faster than our adversaries. Lt. Gen. Edmund Brown, the commander of Army Transformation, agreed. Our number one deliverable is to get better equipment to soldiers and combat formations faster. While Arizona Democratic Senator Mark Kelly said the entire process has to keep up with the threats that we face. Given your Etsy FOX News the Federal Reserve assessed the economy for the first time with new chairman Kevin Warsh appointed to replace Jerome Powell, who President Trump often criticized for not cutting interest rates enough. But there was no rate cut as expected. The central bank said it's leaving interest rates steady. New Fed chair Kevin Warsh the committee decided to maintain the target range for the fed funds rate at 3 1/2 to 3 1/4% in support of the Fed's dual mandate. In an unusually short statement, Fed officials drop language that had suggested their next move would be to cut their key rate. Wash telling reporters that the Fed has the capability to deliver on its 2% inflation target and that's what they're going to do. Hillary bars ski Fox News. On Wall street, there was a sell off that dragged the Dow down 507 points off its record high. But this morning, as oil prices fall again, there's a potential rebound. Stock futures are rising. Golf's next major tournament tees off this hour at Shinnecock Hills Golf Club in New York. It's the U.S. open. I'm Dave Anthony and this is FOX News with American Home Shield. You can now video chat with live repair experts for help with home fixes over the phone. American HOME Shield don't worry. Be warranty. Visit ahs.com listen for 20% off any plan available as a benefit with select plans.