
The White House releases new details from its agreement to end the conflict with Iran. Sen. Mark Warner (D-Va.) shares his concerns over national security as President Trump expresses his frustrations with Congress. The Federal Reserve keeps interest rates steady under the president’s new chair Kevin Warsh.
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Kristen Welker
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Kristen Welker
Welcome to BE the press Now. I'm Kristen Welker in Washington. We begin with breaking news with the White House publicly releasing the full text of its agreement with Iran to halt the war and reopen the Strait of Hormuz. President Trump both touted and at times seemed to downplay the agreement during during a press conference today at the G7 summit in France. At the same time as the president was holding that news conference, a senior administration official was reading the 14 point memorandum of Understanding to reporters during a phone briefing. So here are the Main points. Point 1 the termination of all military operations, including in Lebanon, where Iran's proxy Hezbollah operates.2 Both sides agreeing to respect each other's sovereignty.3 the clock starts on 60 days of negotiations.4 the US ends its naval blockade of Iran's ports.5 Iran agrees to reopen the Strait of Hormuz toll free.6 includes $300 billion in economic relief for Iran's reconstruction.7 lays out a pathway for all types of U.S. sanctions to be lifted over time, of course, once Iran meets certain benchmarks and point eight mirror private prior public statements by Iran that it will not produce or develop nuclear weapons. At that press conference today, President Trump renewed his threat to bomb Iran if it doesn't abide by the text and other unspecified unwritten agreements. Take a look.
Donald Trump
If it doesn't get done in 60 days, it's all right. We go back to bombing. You know, I don't want to do that because it's so good, but we might have to, because we're never going to let them have a nuclear weapon. But they've agreed not to. And you'll see that very clearly in the agreement. And by the way, if they don't honor the agreement or some things aren't even mentioned in the agreement, it's a memorandum of understanding, but we have an understanding of certain things without writing it. And if they don't honor that, we'll probably go back to bombing them until they honor it. You know, it's amazing what bombs can do.
Kristen Welker
So you're threatening to bomb Iran if they don't comply, but there's nothing enforceable
Jasmine Wright
in, in the deal itself, is that correct?
Donald Trump
Doesn't have to be. I let him know, I said, look, if you don't adhere to the agreement, I don't want to do that, but we're going to bomb the hell out of you. And I don't think that they're going to veer from the agreement. What else am I going to do? Am I going to say I'm going to take you to court? Let me take you to court. Let me just. Let me sue you. No, we're going to bomb the hell out of them if they violate the agreement. I don't want them to. I want them to honor the agreement.
Kristen Welker
Is there any safeguard in this state deal to prevent Iran from charging what they say could be fees after the 60 day extension?
Donald Trump
The thing that's going to stop them from doing that because you can't cover everything in a document is common sense. They don't want to get bombed, they don't want to get hit.
Kristen Welker
Notably not in the agreement is anything about addressing Iran's ballistic missile threat. Now remember, President Trump said at the start of the war that that issue was a major reason the US Began combat operations in the first place. Take a look at that.
Donald Trump
The United States military is undertaking a massive and ongoing operation to prevent this very wicked radical dictatorship from threatening America and our core national security interests. We are going to destroy their missiles and raise their missile industry to the ground.
Kristen Welker
It's a stark contrast to what the President said today where he seemed to soften his stance on Iran's ballistic missile capabilities. NBC's Garrett Hake pressed the President on that point.
Donald Trump
So we'll be working on a parallel effort with the Gulf nations to address non nuclear issues such as the conventional ballistic missiles which we'll be talking about and support. I mean, they have to have some because other people have some. You got to have some.
Matt Bradley
Why is it acceptable to you now that they keep some of that capability
Mark Warner
and Iran is Iran.
Donald Trump
What are they keeping? What are they keeping? They have less than other nations now. We knocked out probably 84, 85% of their missiles. The rest of them are underground. They can't even get them out.
Kristen Welker
Joining me now to start us off, NBC's Gabe Gutierrez is covering the president's trip in Geneva. NBC's Matt Bradley is in Tel Aviv. NBC's Sahil Kapoor is on Capitol Hill. And here with me on set, NBC's Dan DeLouse and Elise Lavitt, host of the Cosmopolitics podcast. Thanks to all of you for starting us off. Gabe, let me start with you. The president did not reveal many new details about this agreement, but what are you hearing from administration officials about this memorandum of understanding?
Gabe Gutierrez
Well, Kristen, it was a remarkable series of developments this afternoon when we did hear from those senior U.S. officials about some of the details of this memorandum of understanding. And importantly was the financial aspect of this. You mentioned some of this in your introduction. But in addition to that $300 billion reconstruction fund that is to be created by Iran's Arab neighbors, but also to be developed by the U.S. although the administration insists that no U.S. money will be used for that reconstruction fund, in addition to that, there's the issue of sanctions released relief. And immediately some of that relief, at least waivers for Iranian oil exports will kick in immediately upon the signing of this memorandum of understanding. That is very significant. It wouldn't kick in at the end of this 60 day window of future negotiations. Those, those waivers of Iranian oil which had been sanctioned, that will kick in immediately. And the senior US Official on that phone call with reporters defended that, saying that one, it would be easier to keep track of some of the oil that Iran was selling. But also he acknowledged that it was a concession in part to keep the price of oil globally down. So that is extremely significant. And then also the idea of the president today coming back during that press conference and saying that he seemed to be okay with the unfreezing of Iranian funds. That is incredible to hear from the president considering that he has spent so much time, really much of the last 10 years railing against the Obama administration for unfreezing Iranian funds as part of a previous Iran nuclear deal. So a lot of developments here that the administration is trying to defend. And yes, we did hear that memorandum, memorandum of understanding from those senior U.S. officials just as the president was wrapping up that news conference, Kristen.
Kristen Welker
Yeah, just extraordinary timing on all of these developments, Gabe. I also want to play an exchange at the end of the news conference. When the President was asked about whether he would stay in Europe to sign the agreement, here's what he said.
Dan DeLouse
Why not stick around for the signing ceremony with this Iran peace deal?
Donald Trump
I might.
Dan DeLouse
You might?
Donald Trump
Yeah, I might. But I'd rather. This is a memorandum of understanding. It's very important, but it might not be the kind of a document that I should be signing.
Dan DeLouse
There's some element to this where you send the vice president.
Gabe Gutierrez
If it works out, great.
Dan DeLouse
You look like a genius for sending him. And if it doesn't work out, it's the vice president.
Donald Trump
I like that idea. Sure, boy. This way, if it works out, I'm going to take the credit. If it doesn't work out, I'm blaming J.D. you better be careful, J.D. he's going to turn his plane around and get the hell out of here. Yeah, I like that idea.
Kristen Welker
Seem to be joking a bit there, Gabe. But what are your sources telling you about the reality of. Is the President trying to make the vice president own this?
Gabe Gutierrez
Look, Kristen, there was certainly a lot of palace intrigue there. You'll notice the Secretary of State, Marco Rubio, standing right next to the President, was very careful not to have any expression on his face right there. Look, I asked senior White House officials, you know, whether. Was the President trying to make J.D. vance own this by, you know, having him come out to Switzerland to sign for this formal ceremony, which, by the way, he left open the President today, that it may or may not actually happen. But from what I'm told from a senior White House official, that the President is doing his best to sell this agreement. He has been repeatedly on camera today through social media, that he feels that he is the best messenger here and that he is trying to sell this agreement as best he can. The President always likes to joke around in that sense. And yes, there are a lot of questions about whether the vice President, if this doesn't work out, could he end up being the fall guy? The President seemed to play along with that speculation at least today.
Kristen Welker
All right, Gabe Gutierrez starting us off today. Gabe, thank you so much traveling with the President there, Matt, I want to turn to you. Of course, the United States launched strikes along with Israel. And so there is an important component here in terms of what Israel's reaction is to all of this. I do want to play some of what the President said about Israel and Prime Minister Netanyahu. Take a look.
Donald Trump
We just send a copy to Israel. By the way, they've been a good partner. Again, I think they could do better with respect to Hezbollah, I. I love them as a partner. They were terrific. But they could do a much better job with Hezbollah on that. I don't think they're doing well. So, look, think of what Israel is getting. They're not going to be nuked. It's very simple. I told BBP your biggest risk was that they drop a nuclear weapon into the middle of Israel. They'd only need one and there would be no more Israel. Think of it, baby. You got the best. The most important thing that you were asking for is that. So I think they're happy.
Kristen Welker
So what has the reaction been in Israel based on conversations with your sources? Matt?
Matt Bradley
Yeah, I mean, we haven't heard anything yet, really, from the past two hours from those comments that you just played from President Trump speaking at the G7 summit. But, you know, a lot of what the president said, except for when he said that, when he revealed that he had actually given over a copy of the MOU to the Israelis, which he hadn't done before. Amazingly, you know, a lot of what we've been hearing from the president at the G7 was kind of repeats from what we'd heard earlier in the week. And I can tell you that the criticism against Netanyahu here in Israel has been scathing from all angles. The prime minister has been getting it from his allies and his rivals, all of them saying that the prime minister has looked weak, that he dragged the country into a war that yielded no results, and that he really didn't stand up to the president when it came to fighting in Lebanon, which there are many, many people here and in the security establishment here in Israel who want to see the prime minister finish the job against Hezbollah. They've made this very clear. And even the head of the military, the chief of staff, has announced, along with Netanyahu, that Israel is not going to be withdrawing its troops from Lebanon. This fight looks like it's set to continue. So the problem that President Trump has here is that Prime Minister Netanyahu is one of the biggest stakeholders, the biggest stakeholder in this war, to have had no interaction even at all, no contribution to the negotiating process that led to this memorandum of understanding and will presumably lead to a more permanent ceasefire. But he is the person who has the biggest chance to scuttle all of the progress that's been made. If the prime minister goes back to fiercely fighting against Hezbollah in Lebanon and, for example, fires weapons, fires missiles into the outskirts of Beirut, that would anger Iran and could set off another crossfire over the entire Middle east and could really sabotage this deal.
Kristen Welker
Well, it's a really good point, Matt. And you take me to my following question, which is what about the fact that the president says Iran will be allowed to keep some missiles? How is Israel responding to that?
Matt Bradley
Yeah, I mean, that's something that a lot of folks have already been hitting on. And again, we didn't hear in response from the president's most recent comment about 2 hours ago at the G7. But I can tell you it's been part of just a group of different complaints that everybody has been firing together all at once at the prime minister. There are things that the prime minister had assured the Israeli public he was going to achieve with this war and with its conclusion that are now left gaping open. The resolution to Iran's nuclear future, the missiles, the ballistic missiles and Iran's funding for proxy groups across the region. All of these have not been answered in this mou.
Kristen Welker
All right, Matt Bradley traveling in Tel Aviv. Thank you, Matt. Please stay safe. We really appreciate it. Sahil, let me turn to you on Capitol Hill. You're getting reaction from lawmakers on both sides of the aisle. And the chief complaint seems to be there's a lack of details in this memorandum of understanding, the language that's been released so far. What are you hearing?
Sahil Kapoor
Well, Kristen, I think we can safely call the reaction a mixed bag. I will say in the last few hours since some of the details of this MOU have come out, I've heard more criticism than praise. And let's start with Republicans. I think the most interesting fault line here breaks down between between those who are essentially free agents no longer have to worry about the politics or crossing President Trump and those who are conscious of the politics and want to align with President Trump. To that end, take a listen to what Senator Bill Cassidy said. He's a free agent, no longer running for reelection, retiring. Take a look.
Mark Warner
It's going to leave a lot stronger for all of our allies we need
Matt Bradley
and it makes a lift US taxpayers.
Mark Warner
Now Iran recognizes that they can use their leverage that this platform used to
Matt Bradley
extract from the other countries of the
Mark Warner
world whatever they want.
Matt Bradley
This is JCPOA plus and I post
Mark Warner
then I post now
Sahil Kapoor
that JCPOA line was Bill Cassidy comparing it to President Obama's Iran deal 11 years ago that Republicans vehemently opposed. Now there's Senator Lindsey Graham, a close Trump ally who is running for reelection with Trump's endorsement this fall is he had a different take quote. It's my opinion that signing the MOU will be beneficial to the United States in as much as the Strait of Hormuz will begin to open and the hostilities with Iran will stop. Graham goes on to say, whether or not the United States can reach an acceptable, verifiable deal with Iran regarding its nuclear program and other issues is yet to be determined. But I see little downside to trying and, quote, notice how Graham qualifies his praise there, saying, it's all contingent on getting a final deal. Now, the Democrats, the prevailing feeling there is that this deal is going to be worse than the jcpoa, that at this point, Iran is negotiating from a position of greater strength than they were 11 years ago because they've executed the closure of the Strait of Hormuz and imposed economic pain on the United States and the world. And in the views of Democrats, it's working. Senator Richard Blumenthal called this a disgraceful deal, an unconditional surrender by the United States States took issue with the $300 billion windfall, the unenforceable promises. And Senator Chris Murphy went a little further, called it. Calling it a total humiliation for the United States, even a necessary humiliation, in Chris Murphy's words, because he thinks any deal has to be taken to end this war, given that, in his view, Iran is only going to get stronger.
Kristen Welker
Well, incredibly strong reaction in these opening hours of us seeing that memorandum of understanding. Sahil, thank you for your reporting from Capitol Hill. Dan and Elise, you're both with me on set. Dan, give us the reality check. 60 days to get a deal done with Iran. It took the Obama administration two years. Is it possible?
Dan DeLouse
I would say I would not put my money on it. And the MoU does say that if both parties are still ready to keep talking, they can extend it another six days, you know, forever. Right. But these are incredibly technical issues, as you say. That agreement under the Obama administration was so technical, so complicated, and every concession had to be extracted with brutal, kind of painful negotiations. So I don't think 60 days will produce a historic deal.
Elise Lavitt
It can't. I mean, that deal. Look, the framework deal took about six to eight months, and then that larger deal took two years, and it was hundreds of pages. But Dan and I have the text in our hot little hands, and it has all these Easter eggs that, like, are, you know, really incredible.
Kristen Welker
What stands out to you, Lisa? What are you focused on? Having seen this, having listened to the president, where does this go from here?
Elise Lavitt
Listen, this is a deal to open the strait, okay? And it's a framework strait was open
Kristen Welker
before the war began, by the way.
Elise Lavitt
It was. So it's A what they say in diplomaties that Dan and I talk about is back to the status quo ante, right? It's back to February 27th. Right. And this is a framework deal and a pinky swear to negotiate the nuclear program. Now, look, if it ends the war and you go back to the economy settles, the strait opens, there's no more conflict in the region, the economy improves for Americans, that's a good thing. And Iran's program was severely damaged. The missile program, the weapons silos, the industrial base was damaged. So, yes, this is not as strong as the jcpoa. And it's very unlikely that they're going to get that kind of deal, because as we've been talking about, this is the best deal that the President could get. The JCPOA was the best deal that the US could get at the time. And the costs have gone up because of now, the Strait of Hormuz is the new nuclear weapon. But Iran is maybe in a politically stronger position. And, you know, the old Ayatollah didn't want to use this trait, but it's also, you know, weapons wise and, you know, I would say militarily wise, it's in a weaker position.
Kristen Welker
So, Dan, how are the United States Gulf partners reacting in this moment? At least lays out the fact that Iran actually may be more emboldened than it was during the negotiations over the jcpo.
Mark Warner
They are relieved.
Dan DeLouse
I think, for the most part, they could not absorb yet more warfare, more bombing, more damage to their oil and natural gas infrastructure, to their economies. They had all these elaborate plans to diversify their economies. This has thrown a wrench in that. So they were slightly desperate for the war to end. However, they're full of anxiety. They don't know if this will last. There isn't a serious treaty or agreement here. This is just a memorandum. Will Israel continue to bomb Lebanon, and will that then trigger all of this to unravel? So I think there's a lot of concern in the Gulf, Elise.
Kristen Welker
One of the focuses of the president's Republican allies, quite frankly, was this idea of unfreezing Iranian assets. Now we're hearing about a $300 billion reconstruction fund. Is the idea that that will be gifted over time once the administration sees progress? And how can the United States assure that that's what's actually happening?
Elise Lavitt
Well, Dan and I were this earlier. So initially, on day one, when the deal is signed, the blockade is opened, Iran gets some waivers to sell oil
Kristen Welker
off the bat, off the bat.
Elise Lavitt
And for a little while, the strait will open without Some tolls. What happens going forward, we really don't know. Iran gets the major benefits, whether it's lifting sanctions, unfrozen assets, this reconstruction fund, the more they engage in negotiations and then there is a final deal. But, you know, J.D. vance, Vice President Vance, said something very interesting yesterday to Megyn Kelly on her show. And he said, listen, you know, if this is all we could get, you know, Iran doesn't get any more benefits and we open the strait and the war is over and everyone goes on with their lives. So I think that the US Is over already bracing for the fact that these negotiations could go on indefinitely. They could stall. And let's be honest, if you look at what happened in Ukraine, if you look at what happened in Gaza, this is kind of par for the course with this administration is, look, they do try to negotiate, you know, an end to the conflict, but the president, you know, gets impatient, he moves on. He's talking about Cuba. I mean, I don't see these negotiations really going anywhere anytime fast.
Kristen Welker
Dan, very quickly, what are you going to be watching for in these next 60 days?
Dan DeLouse
I would like to hear more about what has been promised to Iran about unfreezing assets and where's that money, 300 billion coming from to rebuild Iran. But I would just make one last point here, which is this administration has embraced the concept of negotiation that they criticize President Obama for embracing, which is you, Iran will limit your nuclear work and in return, we will ease sanctions. And they really embrace that idea.
Elise Lavitt
And they, and they can do pretty much it says, I mean, that they could do whatever they want with the money. So, you know, back to the missiles and the proxies. It says like, you know, the central bank will determine, you know, where the money goes.
Kristen Welker
And I thought it was notable you heard President Trump effectively say, none of this is binding. They'll do it because I'll start bombing them if they don't.
Elise Lavitt
Not if he takes the troops out. And, you know, the midterms are coming and the troops are home. It'll be difficult to do that again.
Kristen Welker
All right, Elise and Dan, thank you so much for your great insights and reporting. We really appreciate it. Coming up, the top Democrat on the Senate Intelligence Committee joins me to respond to what we're learning about the agreement between the US And Iran. And we'll get his reaction to another major breaking news story today. President Trump forcing the Senate to postpone the confirmation hearing for his director of National Intelligence. Senator Mark Warner joins me next. You're watching Meet the Press now. Etsy we want to know what moments mean the most to you. Whether it's buying a home or hosting a party, there's an Etsy seller with the perfect original pieces to help you celebrate. Celebrate being human. This is a Monday.com ad.
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Kristen Welker
Welcome back. We turn now to some breaking news on Capitol Hill after President Trump unexpectedly threw a wrench into negotiations in Congress to renew a key surveillance tool known as FISA that lapsed last Friday. Today, the Senate Intelligence Committee postponed the confirmation hearing of President Trump's pick for Director of National Intelligence, Jay Clayton, after the President said he was delaying Clayton's nomination. Now, the president announced on social media he was, quote, canceling the hearing, saying, quote, to add a slight bit of intrigue. But for the good of the nation and the people of our country, I will not approve FISA without the Save America act going along with it. That's, of course, the President's bill to overhaul elections in America. Senate leaders have repeatedly said it doesn't have the votes to pass. Senators on both sides of the aisle expressing concern over the move. Take a look. I was surprised.
Elise Lavitt
I was looking forward to the hearings and the opportunity to ask some questions of Mr. Clayton.
Kristen Welker
I'm concerned that this slows down the
Elise Lavitt
renewal of fisa, which is vital to our national security.
Joel Payne
Donald Trump seems hell bent on stopping
Mark Warner
fisa, which is a threat to our country by this absolutely chaotic approach to the appointment of a dni. And FISA seemed to be dead on arrival here in almost any form as long as Bill Pulte remains in that job.
Kristen Welker
Joining me now is Capitol Hill correspondent Melanie Zenona. Mel, so where does this leave Jay Clayton's nomination? A lot of head scratching on the Hill Today.
Melanie Zanona
Yeah, head scratching is probably the nicest way to put it. It is completely up in the air when this nomination is actually going to get done because President Donald Trump gave no indication about when he is willing to let his own nominee come to the Hill and get confirmed. Which also means, Kristen, that this critical surveillance law, which expired last Friday, is also going to remain lapsed. Because remember, GOP leadership, they were trying to lightning speed track, fast track this confirmation process because there was a lot of bipartisan outrage over Trump's acting director for the DNI that he had selected Bill Pulte, who is not in the job yet. And so GOP leaders really begged Trump to name his permanent replacement. That's when he named Jay Clayton, someone who Democrats said they actually respected and had a lot of praise for. So GOP leaders thought they found their way out of this mess by trying to get him confirmed and then hopefully unlocking the votes to open up that FISA bill. However, once Trump realized that meant that Pulte was never going to be in the job, he quickly threw a wrench into those plans this morning, really making GOP leadership's life more difficult. So that's where we're out right now. Just one of many examples of Trump sort of throwing a grenade onto the laps of Senate Republicans and making their lives so much more difficult. Kristen.
Kristen Welker
Yeah, well, let's talk about the other curveball sticking point here. The President saying he now wants the Save America act attached to the FISA renewal. Is there any world where that gets passed? Leader Thune has said there aren't the votes to pass it.
Melanie Zanona
Yeah, I mean, the Senate has tried repeatedly and failed repeatedly to pass the SAVE Act. The reality is the votes are just not there. They need 60 votes in the Senate in order to be able to pass a bill like that. They also tried to push it through reconciliation where only a 50 vote threshold is required. Required. They weren't able to get around the rules there either. And GOP Leader John Thune knows that better than anyone. Just take a listen to what he said on Fox News last night.
Michael Dubke
We are doing everything that we can,
Mark Warner
but it is a function of math.
Michael Dubke
I mean, we are bound by arithmetic. In the United States Senate, the votes currently aren't there. But if you tried to attach it,
Mark Warner
for example, to fisa, it would tank fisa.
Melanie Zanona
So, Kristen, unless Trump backs off of his demand to attach the SAVE act and unless he lets his nominee go through on Capitol Hill, it seems that we are still at a standstill over this critical FISA debate, Kristen Yes.
Kristen Welker
John Thune's job just got even more difficult. Mel Zanona on Capitol Hill first, thanks so much. Joining me now is Democratic Senator Mark Warner of Virginia. He's the top Democrat on the Senate Intelligence Committee. Senator, thank you so much for joining me. Really appreciate it.
Mark Warner
Thank you, Kristen.
Kristen Welker
Well, we're going to get to everything that happened with the Intelligence Committee and Jay Clayton's confirmation hearing in just a moment. But I do want to start on the latest with Iran. Can you give us your reaction to what we heard from the president today about the memorandum of understanding? Do you think this is a positive step toward ending the war?
Mark Warner
Well, I think the fact that the president is declaring victory and ending the war is positive. I think this memorandum and agreement won't stand the test of time. I think even as good a salesman as Donald Trump is, he can no way he can sell this as a win for America. And if we look at the items, I mean, the regime is more radical than the prior regime before the war. This memorandum doesn't even mention the Iranian ballistic missiles and drones. And they've still got 50% of the missiles, 60% missiles and 50% are launchers and countless drones. It doesn't mention the Iranian proxy forces where the $300 billion, where whoever that comes from, my fear is a lot of that money will end up in the hands of Hezbollah or the Houthis in Yemen, which will destabilize the region while the strait may be reopened. We know that Iran, because of their capacity of having literally hundreds of these small speedboats which can any moment go out and place mines in the strait, they have a de facto ability to close down the strait at any point, which is worse than we were before the war. And the idea that Iran promised not to go move to a nuclear weapon, well, they'd had that promise. And Trump's own intelligence community said they weren't moving towards a weapon. So this was a war of choice. And then finally the idea that the Iranians over the next 60 days are going to somehow give up their enriched uranium is, I think, wishful thinking at best and foolish at worst. And you've even heard at least reports that serious people in the Trump administration are questioning whether the Iranians are really serious. They have been able to negotiate on these items for now decades. And I don't see how this puts us again in any better situation, us, our allies in the region than before the president started the war of choice.
Kristen Welker
Well, let me ask you to respond to one of your colleagues, Chris Murphy, who told Notice that if this memorandum of understanding ends the war, the deal is, quote, a disaster. But it's probably a necessary disaster, he calls it. Do you agree with that assessment, that it's a necessary disaster?
Mark Warner
I believe that continuing this war, bombing the Iranians was not going to bring them around. The fact that Americans have already paid $60 billion in additional cost on gas, the fact that we are going to continue to see gas cost, fertilizer costs that come from this region, aluminum costs that come through the Strait of Hormuz, none of that is going to return to pre war levels in weeks or months, if ever, that the war needed to come to an end. And if the President declares victory, I think there may be a group of sycophants around him and will say, atta boy. But neither history, nor our allies, nor our adversaries will ever see this as a victory for America. We are unfortunately in a worse position. After the President started again a war of choice, there was no imminent threat from Iran.
Kristen Welker
Well, let me just ask you, though. President Trump insists he's going to get that final deal in which Iran will ultimately turn over what he has referred to as its nuclear dust, and then commit to not developing a nuclear weapon. If that is the outcome, Senator, understanding that there's this 60 day period to try to negotiate those terms, would that have been worth it?
Mark Warner
Listen, if we can permanently make sure Iran does not move towards a nuclear weapon, yes, I will give the President credit. But anyone who's been an observer of this region and the Iranians negotiating styles, I don't think you could find anyone that thinks that that is a probable outcome. And we may end up at almost back where we were with the deal under Obama, which was called the jcpoa. The only difference was at that point in time, the international regime that was trying to hold Iran in check included the Europeans, U.S. it also included the Russians and the Chinese. Well, in the 12 years or so since the deal was signed, the Russians and Chinese are now fully on the Iranian side. We're not even sure whether our European allies are on our side. And because of the way Trump has treated them and his move towards Greenland and so forth. And again, I would love to be proven wrong and see the Iranians, literally these canisters of enriched uranium, which are very volatile, would require literally thousands of troops on the ground to take them out. Even I think within a ceasefire circumstance, I just don't. I will be surprised if that happens. I will be pleasantly surprised if that happens. But the Iranians have known. They have basically they view, they have taken on America and Israel and at worst fought them to a draw. And Iran has again de facto control over or ability to influence the Straits of Hormuz. And the proxies will get some of this 300 billion. I believe they still have the missile capacity. And I'm not sure, other than renewing their commitment that they wouldn't build a bomb, which they already had in place, what we've got, other than 13American soldiers, lost, billions of expenses in the region, $60 billion of American gas costs alone going up. Even Donald Trump at his best salesman day, can't sell that as a win.
Kristen Welker
All right, Senator, I do want to turn to the president deciding to delay Jay Clayton's nomination for Director of National Intelligence. He was set to appear before your committee today. President Trump says Democrats were going to vote against the FISA reauthorization even if Clayton was confirmed. What's your response to these developments and to the fact that the hearing's now been delayed?
Mark Warner
My response is this. Section702, which is our ability to listen in on foreigners, talking to foreigners abroad, a critical tool, was on a path to a bipartisan three year extension. It's always a tough argument because there are inadvertently Americans that may be talking to a foreigner and your name comes up repeated. We need to figure out, are you a spy or are you a victim of a hack? It's always controversial, but we had worked in a bipartisan way with Tom Cotton, my partner on the Intelligence Committee, and we are on a path to getting this done. And then Donald Trump throws the most singularly, most unqualified individual possible in Mr. Bill Pulte, who doesn't even have a security clearance, who has no experience in national security. The only thing we know about him is he's absolutely loyal to Donald Trump, will do anything. And the idea what he's done in a relatively benign position managing our mortgage industry, has managed to weaponize private mortgage information against people like Lisa Cook of the Federal Reserve. So that kind of inappropriate behavior is getting rewarded with the keys to the kingdom of all of our country's secrets. As Director of National Intelligence. Even my Republicans all pushed back. Serious people within the Trump administration all pushed back. The president retreated last week and said, well, we'll just make him act him and I'll put somebody else up. And Jay Clayton, who many Democrats would have voted against. He had been the U.S. attorney from the Southern District of New York. But I've known Jay and I had tough questions for him. But he was competent. He was on a path to actually getting confirmed. So we wouldn't have this lapse of the section 702. Also, we wouldn't have Pulte in the job. And because the system was actually going to work in a bipartisan way, Trump again in the middle of the night last night threw another hand grenade and said, no, I'm not going to let my choice Clayton become the Director of National Intelligence, at least in the short term, which shows that the president is willing to play politics with our national security.
Kristen Welker
Do you know when a national security is going to be scheduled, Senator? Do you know when a new hearing is going to be scheduled?
Mark Warner
I'm not Even sure whether Mr. Clayton is going to still be the nominee. He didn't know this morning. I hope it'll get scheduled again very shortly. But I think, again, Donald Trump was playing politics with our national security, saying he wants this guy Pulte in there to get a look, I guess, at all of our country's top secrets. That is a national security risk. Even people in the Trump administration acknowledge that. And the good news is, though, even though the section 702 has expired and that gets pretty complicated, the telecommunication companies are still working with the government. So we still have coverage. We have not had a national security lapse yet. But the biggest security problem is Bill Pulte being in this job without even a security clearance is a potential national disaster in terms of national security. And it doesn't appear that Donald Trump cares.
Kristen Welker
How would you answer the sort of main question here, which is, does the threat of Bill Pulte as acting DNI actually outweigh the risks of FISA not being reauthorized? Of course, there are major events right now going on around the country. The World cup, the America 250 celebrations. How do you balance that, Senator?
Mark Warner
Well, it is a balance, and I want this tool renewed. We were on a bipartisan path to get it done. I think there were more than enough Democratic votes with Bill Pulte as the acting director. Regardless, almost what I do, they're not the votes, and everybody knew that. Donald Trump threw this wrench into this process. And again, I feel less immediate pressure right now because the telecommunication companies are still cooperating with the government. And I appreciate that. But with the World cup, with other things happening, with our 250th anniversary, the cavalier attitude that the President has on this is pretty stunning. And again, don't believe me. Please believe my Republican comments colleagues, who've all said, virtually without exception, Bill Pulte does not have the temperament, the experience or the background to be the director of national security. My concern about Pulte isn't what he could do, mischief he could do with 702. There is an audit trail there. My concern with Bill Pulte is if he gets our nation's top secrets, I have no trust that he won't reveal those. I have no trust that he won't try to weaponize the intelligence community against free and fair elections in this country. Again, I go back to the case when I started. If he couldn't even keep mortgage information secret, what will he do with our nation's secret weapons programs, with our nation's most secure spies that we have, with our ability to look at our adversaries? This is a national security threat and it's jaw dropping. And it's one of the reasons why so many of the people in the Trump administration have worked with us quietly to see if we can avoid it, but at least for some short period of time. And it looks like Pulte will be there.
Gabe Gutierrez
All right.
Kristen Welker
Senator Mark Warner, thank you so much for joining us today. We really appreciate it.
Mark Warner
Thank you so much, Kristen.
Kristen Welker
Up next, more breaking news. The Federal Reserve holds interest rates steady and Kevin Warsh holds his first press conference as Fed chair. Stay with us on Meet the Press. Now. At Etsy, we want to know what moments mean the most to you. Whether it's buying a home or hosting a party, there's an Etsy seller with the perfect original pieces to help you celebrate. Celebrate being human.
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Kristen Welker
Welcome back. We want to turn now to more breaking news. The Federal Reserve keeping interest rates steady in its first rate decision under the leadership of President Trump's new Fed chairman, Kevin Warsh. In a unanimous decision, the central bank announced that interest rates will remain unchanged between three and three and a half, 3.7%. Fed officials also hinting that they could see rates go up later this year amid growing concerns about inflation despite President Trump's repeated demands that rates are lowered. The Fed meeting coming after Labor Department reported last week that inflation reached 4.2% last month compared to a year earlier. Now that's the highest rate since 2023. Today's decision also marked the first press conference by Fed Chairman Warsh who noted an overhaul of the Fed's policy statement.
Matt Bradley
It's a bit shorter, a bit simpler and it dispenses with some older language. That statement just gives you the facts as best we can judge it. Absent also is so called forward guidance which we agreed was not well suited to the current policy conjuncture.
Kristen Welker
NBC News business and data correspondent Brian Chung joins me now. Great to have you here. Fresh off the news conference with Kevin Warsh. What were your key takeaways today?
Brian Chung
Yeah, well, again, the announcement itself wasn't a surprise. We were expecting the Federal Reserve to hold, hold on interest rates. But I think the question is what do they do from here? You have an environment where the labor market and job gains are steadying, but at the same time you have inflation that has been rocketing up since the summer began, in part, of course, because of the war with Iran. But normally when you have inflation rising, what does the Federal Reserve do? They usually hike interest rates. So this brand new Fed chair is between the hard place of a president that wants lower interest rates and the rock of an economy that might need interest rate hikes. So, so we'll have to see how he navigates that in the future.
Kristen Welker
Yeah, I know you'll be covering every twist and turn. And you had a chance to press him on wages and the realities of what so many Americans are facing right now.
Brian Chung
Yeah, well, I mean, Kevin Warsh coming from the Hoover Institution at Stanford University, he speaks sometimes in kind of academic language. And so I wanted him to talk to Main street and I asked him the question for people that are going to the store, they notice price tags rising at a fat at a faster pace than their wages. That's a big problem. How do you message that if you you ran into someone at the store? Here's what he said.
Matt Bradley
I saw somebody in the grocery store. What I would say to them is that we cannot have a very significant effect on particular prices, the price of oil in the markets today or even the price of a dozen eggs. That does not have first order consequences to what we're doing. But we do have a really important job there, and it's to make sure that those changes in oil are beef or eggs or milk, don't broaden in the economy, don't have second and third order effects. That's our job, that's our commitment, that's our capability, and we're going to deliver on it.
Brian Chung
And so whether or not that resonates to Main street is going to be, you know, I think, a theme that we'll watch for throughout the rest of his tenure there at the Fed. But again, he's saying we don't target oil, we don't target eggs. And I think that's going to be a challenge, especially with affordability top of
Kristen Welker
mind for most Americans and a messaging challenge for the White House Republicans in this midterm election cycle, no doubt. You also learned today Kevin Warsh announced five new task forces. What's that about?
Brian Chung
Yeah. And again, I should point out it was a real wild card. All the reporters went into this press conference not knowing what he was going to do. It's a new Fed chair. He decided to change the structure entirely. And he announced as part of this press conference that he was going to review essentially five new initiatives at the Federal Reserve ranging from things like how they collect data, what type of data they prioritize over other certain types of data. That could be a big one, how they look at inflation. This new Fed chair suggests that he wants to look at different measures of inflation. But communications, I think Kristen, is going to be a big one. The statement that the Federal Reserve at least released alongside their announcement that they're not moving on interest rates was less than half the length of the previous statements under his predecessor, Jerome Powell. So he wants to reduce the amount of information. Kevin War says that's making it simpler. But that could also be read as having a little bit more obscurity, obfuscating what the Fed might be doing going forward. Is that something that markets are going to like? That's going to be a really interesting thread to follow as well.
Kristen Welker
All right, Brian Chung, thank you. Thank you so very much. Great job getting a question to him. Really appreciate it. We have more news and politics ahead when the panel joins us on MEET THE PRESS now. Welcome back. Joining me now to discuss today's developments, today's panel, Jasmine Wright, White House correspondent for notice, Democratic strategist Joel Payne, and Michael Dubke, former White House communications director in the Trump administration during the first term. Thanks to all of you for being here. Jasmine, let me start with you. Your key takeaways, having read and listened to the president today talk about this memorandum of understanding.
Jasmine Wright
Well, from what I read, what I heard and also the call that senior officials had with reporters, it's clear that the White House and the larger administration are a bit defensive over what is in or what's not in this memorandum of understanding. I think that they believe that it is just the first step to get to those next 60 days of technical conversations in which maybe some of these like the larger nuclear questions and all the details will be filled in. But you've seen both Vice President Vance, a little bit of Donald Trump today, other officials really kind of going across networks, media ecosystems to try to tout what they believe is beneficial and go against the naysayers. But fundamentally, I think you're seeing them on the back foot for a couple of days. And now that this is out, people still don't really like it.
Kristen Welker
Well, respond to that, Mike, and the fact that you're hearing even some Republicans say this is basically the JCPOA or the precursor to the JCPOA and that Iran seems more emboldened, has more leverage this time.
Michael Dubke
Well, I think a couple things. I think you're absolutely right that what we saw is on Sunday there was all this talk about what's in it. And then, then we had three days of no one knows, and then we get a little bit of the information out of it. Look, at this point, it is what we can pull together to move this conflict forward and get us to a point where the United States can claim credit for dismantling a lot of the military of Iran, moving them beyond the funding of their third party proxies in the region, all of that. And there was a very, very specific language about minimum nuclear material. And that I think was in the second point of the whole thing. What really worries me, and I think this is the long term problem that they're going to have and they're going to defend and you all will be talking about for days to come is the Strait of Hormuz that was very unclear. And I think where you see Republicans pushing back on this is that we didn't get a real good message on the Strait of Hormuz. There's still the potential of a toll booth after the 30 or 60 days. And I think that worries a lot of Republicans because that could shut this whole thing down again.
Kristen Welker
Joel, your reaction? And what if at the end of this, President Trump is able to get a deal in which Iran turns over its nuclear dust, as he calls it, and commits to not developing a nuclear weapon?
Joel Payne
Kristen, bottom line, Donald Trump traded a lot of American credibility around the world. He traded, unfortunately, the lives of those 14 brave members of the armed service who we lost, traded hundreds, thousands of lives in that part of the world, millions and billions of dollars for a pretty meager advance in the United States leverage against Iran. And I think that's the story that they're having a hard time defending and that they're having a hard time losing. The narrative around the fact that they are trying to paint this as JD Vance's deal as opposed to Donald Trump's deal, is exhibit A as to why we should be very, very suspicious of whether or not this president and this administration actually like the deal that they seem to be backed into cutting.
Kristen Welker
What about that J.D. vance really seems to be the face of this deal?
Michael Dubke
Well, kind of. I mean, I will just say briefly on this, and I thought the president addressed this at his press conference today. This is a memorandum of understanding. So I think the president's position on this is when we have that final deal in 60 days, now he's setting himself up by saying this, but when we have this deal in 60 days, I'll be the electronic signature on this as opposed to Vice President Vance. So we've got an MOU. We all need to recognize that we've got 60 days or whatever of negotiation to go.
Kristen Welker
Yeah. Jasmine, are your sources saying anything about the strategy behind having the vice president to some extent own this? Now, look, we should note he's on a book tour, so some of these media appearances have been pre scheduled, but he was everywhere this week talking about this memorandum of understanding that was coming together.
Jasmine Wright
Yeah, it was around Robin. On steroids.
Elise Lavitt
Yeah.
Jasmine Wright
To be clear, listen, when I talk to my sources about the vice president, they say one thing is that the president asked him to be in this position and therefore he is doing his vice presidential duties and trying to make the best of it. I think it's really interesting because we know Vance to be a skeptic when it comes to intervention, particularly with Iran. There's been so much reporting about it. He's attested to something like it. The president has even said that he was more interested in doing this than J.D. vance was. And so that is going to be the color that colors all, all of this for the rest of the 60 days, 90 days, however long it goes. I think the vice president has in some ways been defending this bill, but also perhaps saying leaving an option open as to what happens next. If there is no deal, what could happen? And I think that that's the reality that the administration feels, is that they hope to get a deal in 60 days or 90 days, but they're not exactly sure. And I think that Vice President President Vance will be a part of that calculus at the time.
Joel Payne
Donald Trump likes to put his name on everything. Overpriced golf resorts on checks on the Kennedy Center. The fact that Donald Trump doesn't want to put his name on his deal should tell you everything you need to know about how he thinks.
Kristen Welker
Mike, what about that point and what about this idea that J.D. vance, if this does not come to fruition, does that in some way cloud any potential future hopes he has for the president?
Michael Dubke
He is tied at the hip. The vice president is tied at the hip, per your what you're saying. He's tied at the hip to the president regardless. There's really no other way out for him right now. So I am not surprised. And he is on a book tour and we need to recognize that, and that's why he's out there.
Kristen Welker
All right, let's shift gears very quickly because the president today threw a little bit of a curveball to the Senate Intelligence Committee, basically pulling temporarily the nomination of Jay Clayton, saying, I'm not going to move forward with that until you pass FISA and the Save America Act. Leader Thune has said there aren't the votes for the Save America act, this bill to overhaul how elections are run. What are you hearing from the Hill?
Jasmine Wright
Well, they are frustrated, and I think you're seeing the president frustrated. I mean, just to be very clear here, first of all, the Save America acted something that they, as partaker, particularly Senate Republicans, have hoped the president would move on after it's been cleared time and time again that there are just not the votes on it. Clearly he's not doing that. And I think you're seeing the president being very frustrated by this box that both Senate Republicans and Senate Democrats have been putting on him, saying that they're not going to do something, they're not going to vote for this if he does this. And you're seeing that time and time again. And I think you're now seeing the president basically push back on it and say respond to this. And I think you're going to see that tit for tat go on for quite some time.
Kristen Welker
This is fascinating, this tit for tat. We haven't seen this in the first year and a half of the president.
Michael Dubke
I think it's just one. It's one ask too many. I thought it was. I mean, if you really step back and you look at this, the Republicans were going to have difficulty with whoever he nominated. Except they set up this perfect scenario by putting Pulte out there that when you had this new DNI director being put out there, the Democrats are saying, we'll get it done in three days. We're ready to go. And I, and I don't really understand this next. Except for the love of the SAVE Act. I don't really understand this because I think he avoided a really contentious hearing that we will probably now have on foreign policy, on national intelligence, on all of this. It all could have been avoided today.
Kristen Welker
Well, Joe, Mark Warner said he thought he was gonna get confirmed. Yes, he would have faced some tough questions, but likely would have gotten confirmed.
Joel Payne
Ike's assessment is exactly right. There a class of Democrats who are dying to get this deal done. I mean, the Mark Warners, the Gene Shaheens, there's an entire caucus of Democrats within that caucus that will love nothing more than avoid a fight with Donald Trump on this. And the fact that his political judgment was to pick a fight on this shows you that the political judgment's off in this White House.
Kristen Welker
All right, guys, thank you so much. Great conversation. Jasmine, Joel and Mike really appreciate it. We are back tomorrow with more Meet the Press. Now. There is much more ahead on NBC News.
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This episode, hosted by Kristen Welker, focuses on two major breaking news stories: the White House's public release of the full text of its new agreement with Iran to halt the war and reopen the Strait of Hormuz; and congressional chaos surrounding President Trump's pick for Director of National Intelligence and the reauthorization of the FISA surveillance program. The episode features live reporting from correspondents, detailed policy breakdowns, reactions from lawmakers, analysis from experts, and an interview with Senator Mark Warner.
Theme:
The episode is centered on the high-stakes aftermath of a new U.S.–Iran memorandum of understanding (MoU) aimed at ending hostilities, reopening the critical Strait of Hormuz, and lifting some sanctions—amid controversy over its lack of detail, enforceability, and geopolitical consequences. The show also tracks unfolding political drama in Washington as President Trump ties surveillance reauthorization and an intelligence nominee to legislative demands.
“If it doesn’t get done in 60 days, it’s all right. We go back to bombing...I don’t want to do that because it’s so good, but we might have to, because we’re never going to let them have a nuclear weapon.” (Donald Trump, 02:41)
“Doesn’t have to be. I let ‘em know... We’re going to bomb the hell out of you. And I don’t think that they’re going to veer from the agreement. What else am I going to do? Am I going to say I’m going to take you to court? ...No, we’re going to bomb the hell out of them if they violate the agreement.” (Donald Trump, 03:24)
“The thing that’s going to stop them...is common sense. They don’t want to get bombed...” (Donald Trump, 03:56)
“...they have to have some because other people have some. You got to have some. ...We knocked out probably 84, 85% of their missiles. The rest of them are underground. They can’t even get them out.” (Donald Trump, 04:54)
“I told BBP your biggest risk was that they drop a nuclear weapon into the middle of Israel. They’d only need one and there would be no more Israel...you got the best. The most important thing that you were asking for is that. So I think they’re happy.” (Donald Trump, 10:24)
Gabe Gutierrez (Geneva):
Highlights immediate oil sanctions relief for Iran, a shift in U.S. position on unfreezing assets (previously attacked by Trump), and that the deal is being spun as a major Trump achievement. Trump jokes about sending VP J.D. Vance to sign the deal to share or deflect blame (08:07–09:04):
“This way, if it works out, I’m going to take the credit. If it doesn’t work out, I’m blaming J.D.” (Donald Trump, 08:38)
Matt Bradley (Tel Aviv):
“…the criticism against Netanyahu here in Israel has been scathing…he really didn’t stand up to the President when it came to fighting in Lebanon…” (Matt Bradley, 11:16)
“…this is a deal to open the strait, okay? …it’s a framework deal and a pinky swear to negotiate the nuclear program.” (Elise Lavitt, 17:55)
“…the idea that the Iranians over the next 60 days are going to somehow give up their enriched uranium is, I think, wishful thinking at best and foolish at worst.” (Mark Warner, 29:47)
Donald Trump on enforcement:
“We’re going to bomb the hell out of them if they violate the agreement. I don’t want them to. I want them to honor the agreement.” (03:24)
On Vice President J.D. Vance signing the deal:
“If it works out, I’m going to take the credit. If it doesn’t work out, I’m blaming J.D.” (08:38)
Mark Warner on the MoU:
“I think this memorandum and agreement won’t stand the test of time. ...the regime is more radical than the prior regime before the war. ...This was a war of choice.” (29:47)
Chris Murphy via Mark Warner:
“A necessary disaster...Any deal has to be taken to end this war, given that...Iran is only going to get stronger.” (16:40)
Brian Chung on the Fed’s challenge:
“This brand new Fed chair is between the hard place of a president that wants lower interest rates and the rock of an economy that might need interest rate hikes.” (44:19)
The June 17, 2026, episode of Meet the Press NOW offers a comprehensive look at a game-changing diplomatic deal with Iran, characterized by ambiguity, political wrangling, and shifting U.S. strategy. Scrutiny mounts from both allies and critics as the White House sells a fragile agreement with scant enforcement, while Congress and the intelligence community face unprecedented turbulence. The episode underscores high tensions, uncertain outcomes, and the complex calculus of war, peace, and politics in an election year.