Did Iran Pose an ‘Imminent Threat’? And Why the Fed is Holding Rates Steady - Here's the Scoop

Summary

Here's the Scoop – Episode Summary
Podcast: Here's the Scoop (NBC News)
Episode: Did Iran Pose an ‘Imminent Threat’? And Why the Fed is Holding Rates Steady
Host: Yasmin Vossoughian
Date: March 18, 2026

Episode Overview
This episode of Here's the Scoop focuses on two critical issues:

The fallout from the U.S. decision to go to war with Iran, especially regarding the intelligence (or lack thereof) about an 'imminent threat' posed by Iran.
The Federal Reserve's decision to hold interest rates steady amidst economic uncertainty brought on by the ongoing conflict with Iran and mixed signals from economic indicators.

The show also provides quick updates on a contentious DHS confirmation hearing, a transformative WNBA labor deal, and other national headlines.

Section 1: Did Iran Pose an ‘Imminent Threat’? – Capitol Hill Grilling
Key Guest: Dan De Luce, NBC News national security reporter

Main Points Covered:

A heated Senate Intelligence Committee hearing probes whether intelligence justified the Trump administration’s war against Iran.
Top security officials (DNI Tulsi Gabbard, CIA Director John Ratcliffe, FBI Director Kash Patel) testify amid controversy after the head of the National Counterterrorism Center resigns, alleging there was "no imminent threat."
Much of the discussion centers on the U.S. June airstrikes ("Operation Midnight Hammer") that severely damaged Iran’s nuclear program, and whether this eliminated any immediate danger.

Key Exchanges & Quotes:

C (Sen. Mark Warner) to Gabbard on omitted statement (02:32):

“You chose to omit the parts that contradict the President.”
B (Dan De Luce) on Gabbard’s stance (03:38):

“It showed again that Tulsi Gabbard is clearly in an uncomfortable position... she removes...this passage in her opening statement that also said that since June...Iran had not resumed or been able to revive its uranium enrichment efforts. And that was also an indication then that it was not an imminent threat in terms of its nuclear program.”
Sen. John Ossoff presses Gabbard for a yes/no answer (05:10):
“Was it the intelligence community's assessment that nevertheless...there was a, quote, imminent nuclear threat posed by the Iranian regime?”
- Gabbard: “It is not the intelligence community’s responsibility to determine what is and is not an imminent threat.”
- Ossoff: “It is precisely your responsibility to determine what constitutes a threat to the United States.”
- Analysis by Dan De Luce (06:04):
  
  “Her answers suggest that there isn’t intelligence that explicitly backs up what the President and White House have been saying.”
Political ramifications and fractures in the administration (06:04):

“You do have to wonder, a, whether she’ll stay in her job. And then you also have to wonder what is going to be the political effect of this if the war continues for some time.” (B, Dan De Luce)
On communications between the intelligence community and the White House (08:47):
- Ratcliffe says he briefs the president up to 14–15 times a week, sometimes multiple times a day. Despite this, there’s confusion about why the administration seemed surprised by Iran's actions, which were predicted by U.S. intelligence.
- De Luce contextualizes (09:30):
  
  "There was nothing shocking about Iran's response in that sense, and intelligence seemed to indicate that that would be the case.”

Memorable Moment:

The show highlights the disconnect between intelligence findings and the administration's public claims, with Gabbard refusing to directly support the "imminent threat" narrative.

Section 2: The Fed Holds Interest Rates Steady – Economic Uncertainty
Key Guest: Brian Cheung, NBC News business and data correspondent

Main Points Covered:

The Fed leaves interest rates unchanged, citing war-related uncertainty and mixed economic signals: rising inflation (especially energy prices) versus signs of a weakening labor market.
President Trump frustrated by lack of rate cuts, repeatedly urging Fed Chair Jerome Powell to lower rates.
New elements include supply shocks from the conflict, a significant spike in oil prices (over 40%), and a weak jobs report.
Fed Board is more divided than usual, reflecting deep uncertainty over the right policy response.

Key Quotes & Analysis:

Chair Jerome Powell at press conference (13:05):

"The implications of events in the Middle East for the US economy are uncertain. In the near term, higher energy prices will push up overall inflation, but it is too soon to know the scope and duration of the potential effects on the economy.”
Brian Cheung on why the Fed held steady (13:32):

“They don’t want to cut interest rates into an environment where inflation could be going up...they don’t want to put kerosene on the fire here.”
Discussion of political pressure and economic context (15:28):

"He has been berating constantly, Jerome Powell, who was his own pick, by the way, for the Fed to lower interest rates more aggressively...the political undercurrent of all that can’t be ignored." (E, Brian Cheung)
On possible future rate hikes (17:11):

"...there's the possibility...that the Federal Reserve could raise interest rates before the end of this year. That would be kind of a dark horse outcome that is certainly possible this year, depending on how all this plays out."
Internal dissent on the Fed Board (18:36):

“You have dissent from some pretty big names...It's a type of divergence that you don't tend to see.”
On the DOJ investigation and Fed Chair’s future (20:09):

“It’s unprecedented in the Federal Reserve's history. We have never seen this type of public lambasting and using of the Department of Justice to go after a sitting Fed chair, who even more remarkably, is someone that the President had picked himself.”

"...you have Thom Tillis...saying, I'm not going to advance that Kevin Warsh nomination until the Department of Justice drops its investigation into the Federal Reserve and into Jerome Powell..."
"You have this fascinating scenario where Jerome Powell could stay as the chairman of the Fed until the next Congress is sworn in in January of 2027 if this standoff continues. It's the craziest game of chicken that we've seen in Fed land." (20:09–21:49)

Timestamps for Segment:

Start of Fed discussion: [12:34]
Powell's press conference quote: [13:05]
Brian Cheung analysis: [13:32–21:49]

Section 3: Headlines – DHS Confirmation Drama, TSA Woes, WNBA Breakthrough
Senate confirmation drama:

Markwayne Mullen, Trump's pick for DHS Secretary, faces tough questioning, notably from fellow Republican Senator Rand Paul about past personal conflicts. Mullen defends his contentious reputation; confirmation seems likely but not assured.
Sahil Kapoor (24:06):

"Mullen refused to apologize for his comments about Rand Paul and stood by his remarks...his path might not be so smooth."

TSA woes due to shutdown:

Partial government shutdown leads to TSA workers missing pay; high call-outs cripple airports, especially in Houston, and threaten smaller airport closures.

AI & defense:

Senator Alissa Slotkin pushes legislation to set up strict controls on military use of AI, barring autonomous lethal decisions and banning use in nuclear systems.

WNBA’s transformative new CBA:

Average salaries to rise dramatically ($600,000 average, $300,000 minimum), players get a 20% revenue share. Terms still need ratification.
Host (A, 25:16):

"The new salary cap will start at $7 million, up from $1.5 million dollars under the previous CBA..."

Wholesome headline:

Viral monkey "Punch" trades his beloved stuffed animal for a real-life mate at a Japanese zoo—sparking social media delight.

Timestamps for Segment:

Headlines begin: [23:45]
Homeland Security hearing: [24:06]
TSA/payroll crisis: [24:45]
WNBA deal: [25:16]
Monkey story: [26:44]

Memorable Quotes & Soundbites

Dan De Luce on the intelligence community’s reluctance (03:38):

"She has not publicly come out and really endorsed the decision to go to war. Right. And so...she removes this passage...that also said...Iran had not resumed or been able to revive its uranium enrichment efforts."
Brian Cheung, on inflation vs. jobs (15:51):

"They’re more worried about [inflation] than they are about further deterioration in the jobs market."
Brian Cheung, on Powell’s unprecedented situation (20:09):

"It’s the craziest game of chicken that we’ve seen in Fed land."

Episode Flow – At-a-Glance

[00:03] – Host intro & episode rundown
[00:32–11:00] – Iran war: Senate hearings, intelligence controversy, expert analysis
[12:34–21:49] – Fed rate decision, economic pressures, political intrigue at the central bank
[23:45–27:40] – Quick headlines: DHS hearing fireworks, TSA dysfunction, WNBA CBA, viral zoo story

Takeaways

The episode dives into the rift between administration narratives and intelligence assessments leading up to the Iran war, highlighting tensions within the Trump cabinet and their political implications.
The economic section underscores how geopolitics, inflation fears, and political infighting are shaping Federal Reserve policy in unpredictable ways.
The episode’s brisk yet conversational style helps make breaking news digestible, balanced with lighter headlines that round out the day in U.S. current affairs.

For more context, subscribe to "Here's the Scoop" or check out the daily "Inside Scoop" newsletter.

Summary

Episode Overview
This episode of Here's the Scoop focuses on two critical issues:

The fallout from the U.S. decision to go to war with Iran, especially regarding the intelligence (or lack thereof) about an 'imminent threat' posed by Iran.
The Federal Reserve's decision to hold interest rates steady amidst economic uncertainty brought on by the ongoing conflict with Iran and mixed signals from economic indicators.

The show also provides quick updates on a contentious DHS confirmation hearing, a transformative WNBA labor deal, and other national headlines.

Section 1: Did Iran Pose an ‘Imminent Threat’? – Capitol Hill Grilling
Key Guest: Dan De Luce, NBC News national security reporter

Main Points Covered:

A heated Senate Intelligence Committee hearing probes whether intelligence justified the Trump administration’s war against Iran.
Top security officials (DNI Tulsi Gabbard, CIA Director John Ratcliffe, FBI Director Kash Patel) testify amid controversy after the head of the National Counterterrorism Center resigns, alleging there was "no imminent threat."
Much of the discussion centers on the U.S. June airstrikes ("Operation Midnight Hammer") that severely damaged Iran’s nuclear program, and whether this eliminated any immediate danger.

Key Exchanges & Quotes:

C (Sen. Mark Warner) to Gabbard on omitted statement (02:32):

“You chose to omit the parts that contradict the President.”
B (Dan De Luce) on Gabbard’s stance (03:38):

“It showed again that Tulsi Gabbard is clearly in an uncomfortable position... she removes...this passage in her opening statement that also said that since June...Iran had not resumed or been able to revive its uranium enrichment efforts. And that was also an indication then that it was not an imminent threat in terms of its nuclear program.”
Sen. John Ossoff presses Gabbard for a yes/no answer (05:10):
“Was it the intelligence community's assessment that nevertheless...there was a, quote, imminent nuclear threat posed by the Iranian regime?”
- Gabbard: “It is not the intelligence community’s responsibility to determine what is and is not an imminent threat.”
- Ossoff: “It is precisely your responsibility to determine what constitutes a threat to the United States.”
- Analysis by Dan De Luce (06:04):
  
  “Her answers suggest that there isn’t intelligence that explicitly backs up what the President and White House have been saying.”
Political ramifications and fractures in the administration (06:04):

“You do have to wonder, a, whether she’ll stay in her job. And then you also have to wonder what is going to be the political effect of this if the war continues for some time.” (B, Dan De Luce)
On communications between the intelligence community and the White House (08:47):
- Ratcliffe says he briefs the president up to 14–15 times a week, sometimes multiple times a day. Despite this, there’s confusion about why the administration seemed surprised by Iran's actions, which were predicted by U.S. intelligence.
- De Luce contextualizes (09:30):
  
  "There was nothing shocking about Iran's response in that sense, and intelligence seemed to indicate that that would be the case.”

Memorable Moment:

The show highlights the disconnect between intelligence findings and the administration's public claims, with Gabbard refusing to directly support the "imminent threat" narrative.

Section 2: The Fed Holds Interest Rates Steady – Economic Uncertainty
Key Guest: Brian Cheung, NBC News business and data correspondent

Main Points Covered:

The Fed leaves interest rates unchanged, citing war-related uncertainty and mixed economic signals: rising inflation (especially energy prices) versus signs of a weakening labor market.
President Trump frustrated by lack of rate cuts, repeatedly urging Fed Chair Jerome Powell to lower rates.
New elements include supply shocks from the conflict, a significant spike in oil prices (over 40%), and a weak jobs report.
Fed Board is more divided than usual, reflecting deep uncertainty over the right policy response.

Key Quotes & Analysis:

Chair Jerome Powell at press conference (13:05):

"The implications of events in the Middle East for the US economy are uncertain. In the near term, higher energy prices will push up overall inflation, but it is too soon to know the scope and duration of the potential effects on the economy.”
Brian Cheung on why the Fed held steady (13:32):

“They don’t want to cut interest rates into an environment where inflation could be going up...they don’t want to put kerosene on the fire here.”
Discussion of political pressure and economic context (15:28):

"He has been berating constantly, Jerome Powell, who was his own pick, by the way, for the Fed to lower interest rates more aggressively...the political undercurrent of all that can’t be ignored." (E, Brian Cheung)
On possible future rate hikes (17:11):

"...there's the possibility...that the Federal Reserve could raise interest rates before the end of this year. That would be kind of a dark horse outcome that is certainly possible this year, depending on how all this plays out."
Internal dissent on the Fed Board (18:36):

“You have dissent from some pretty big names...It's a type of divergence that you don't tend to see.”
On the DOJ investigation and Fed Chair’s future (20:09):

“It’s unprecedented in the Federal Reserve's history. We have never seen this type of public lambasting and using of the Department of Justice to go after a sitting Fed chair, who even more remarkably, is someone that the President had picked himself.”

"...you have Thom Tillis...saying, I'm not going to advance that Kevin Warsh nomination until the Department of Justice drops its investigation into the Federal Reserve and into Jerome Powell..."
"You have this fascinating scenario where Jerome Powell could stay as the chairman of the Fed until the next Congress is sworn in in January of 2027 if this standoff continues. It's the craziest game of chicken that we've seen in Fed land." (20:09–21:49)

Timestamps for Segment:

Start of Fed discussion: [12:34]
Powell's press conference quote: [13:05]
Brian Cheung analysis: [13:32–21:49]

Section 3: Headlines – DHS Confirmation Drama, TSA Woes, WNBA Breakthrough
Senate confirmation drama:

Markwayne Mullen, Trump's pick for DHS Secretary, faces tough questioning, notably from fellow Republican Senator Rand Paul about past personal conflicts. Mullen defends his contentious reputation; confirmation seems likely but not assured.
Sahil Kapoor (24:06):

"Mullen refused to apologize for his comments about Rand Paul and stood by his remarks...his path might not be so smooth."

TSA woes due to shutdown:

Partial government shutdown leads to TSA workers missing pay; high call-outs cripple airports, especially in Houston, and threaten smaller airport closures.

AI & defense:

Senator Alissa Slotkin pushes legislation to set up strict controls on military use of AI, barring autonomous lethal decisions and banning use in nuclear systems.

WNBA’s transformative new CBA:

Average salaries to rise dramatically ($600,000 average, $300,000 minimum), players get a 20% revenue share. Terms still need ratification.
Host (A, 25:16):

"The new salary cap will start at $7 million, up from $1.5 million dollars under the previous CBA..."

Wholesome headline:

Viral monkey "Punch" trades his beloved stuffed animal for a real-life mate at a Japanese zoo—sparking social media delight.

Timestamps for Segment:

Headlines begin: [23:45]
Homeland Security hearing: [24:06]
TSA/payroll crisis: [24:45]
WNBA deal: [25:16]
Monkey story: [26:44]

Memorable Quotes & Soundbites

Dan De Luce on the intelligence community’s reluctance (03:38):

"She has not publicly come out and really endorsed the decision to go to war. Right. And so...she removes this passage...that also said...Iran had not resumed or been able to revive its uranium enrichment efforts."
Brian Cheung, on inflation vs. jobs (15:51):

"They’re more worried about [inflation] than they are about further deterioration in the jobs market."
Brian Cheung, on Powell’s unprecedented situation (20:09):

"It’s the craziest game of chicken that we’ve seen in Fed land."

Episode Flow – At-a-Glance

[00:03] – Host intro & episode rundown
[00:32–11:00] – Iran war: Senate hearings, intelligence controversy, expert analysis
[12:34–21:49] – Fed rate decision, economic pressures, political intrigue at the central bank
[23:45–27:40] – Quick headlines: DHS hearing fireworks, TSA dysfunction, WNBA CBA, viral zoo story

Takeaways

The episode dives into the rift between administration narratives and intelligence assessments leading up to the Iran war, highlighting tensions within the Trump cabinet and their political implications.
The economic section underscores how geopolitics, inflation fears, and political infighting are shaping Federal Reserve policy in unpredictable ways.
The episode’s brisk yet conversational style helps make breaking news digestible, balanced with lighter headlines that round out the day in U.S. current affairs.

For more context, subscribe to "Here's the Scoop" or check out the daily "Inside Scoop" newsletter.