Iran Deal Signed, Obama's Grand Opening & Knicks Parade - Thursday, June 18, 2026

**Erica Mandy** (0:00)
Today is Thursday, June 18th. Want to know about the newly released terms of the deal the US made with Iran that President Trump decided to sign early, and why it's now facing some bipartisan backlash? Also, where Americans are getting the brunt of extreme weather, from wildfires to tornadoes to a tropical storm. Plus, the first interest rate decision under the new Fed leader, the reason Apple says it has to raise prices, and the big celebrations happening around the country over the next few days. Those stories and even more news to know, next.
Welcome to The News Worthy, all the day's news in less than 15 minutes. I'm Erica Mandy, thanks so much for being here. Let's do this.
The deal the US made with Iran is now officially in effect. You'll remember, it actually wasn't supposed to be implemented until Friday after a ceremonial signing. But President Trump and his Iranian counterpart signed it early, digitally.
Of course, this represents a significant milestone in the ongoing diplomatic efforts between the US and Iran. Trump himself called it a major win for the United States, while Iran's chief negotiator called it a, quote, record of US failure.
The full text of the deal includes 14 points. For starters, it ends fighting on all fronts, including Lebanon, where Israel is trying to destroy the militant group Hezbollah. Both sides also agreed to restore shipping through the Strait of Hormuz to pre-war levels within the next month. Iran commits to not produce any nuclear weapons, and the US commits to ending all types of sanctions on Iran. As President Trump spoke about the deal yesterday, he seemed to soften some of his earlier red lines on Iran. For example, he now says accessing Iran's highly enriched uranium is not the most important thing. Plus, he said it's okay for Iran to have some ballistic missiles. He also defended a pathway to unfreezing Iran's assets, saying, quote, it's not our money. At a certain point in time, we're gonna have to give it back.
Mostly Trump says the deal avoids an economic catastrophe that could have happened if the war were to continue. And other world leaders at the G7 summit threw their support behind it. That's key too, since the deal says any final agreement will have to be approved by the UN Security Council.
But back in the US, some lawmakers on both sides of the aisle say the deal doesn't go far enough, considering how much money and how many lives have been lost in the conflict. They want to see real proof that things are better now than they were before it all began. To that end, negotiations continue in hopes of reaching a final deal, and American officials are now pushing for stronger commitments from Iran. The Wall Street Journal says this deal is widely seen as the biggest foreign policy bet of President Trump's second term. But Trump doesn't seem to be too concerned. He explained, if it doesn't work out, quote, that's all right, we go back to bombing.
What looks like a compromise in Congress just days ago was turned on its head. We told you about that deal last week when lawmakers thought they found a way to sidestep President Trump's controversial pick for interim intelligence chief without derailing a major national security bill. The plan was this, confirm Trump's nominee to lead the intelligence community long term, Jay Clayton. In return, lawmakers who were holding out their votes on the surveillance bill in protest of interim intelligence chief Bill Pulte would drop their objections and allow the bill to move forward. Well, everything changed yesterday with a social media post from President Trump saying he was going to delay Clayton's nomination and keep Pulte in the job. Then Trump added what he called a slight bit of intrigue and said he would not sign the surveillance bill we told you about, Section 702 of the Foreign Intelligence Surveillance Act, until Congress passed a controversial voting bill, the one that would in part make Americans provide proof of citizenship to vote. And now it's not clear how the Republicans who control Congress are going to move forward. Senate Majority Leader John Thune says he does not have the support for the voting bill. So now that's on hold, as well as the intelligence nominee and the national security bill. To be continued.
For a fourth straight meeting, the Federal Reserve decided once again to keep interest rates steady. This was the first decision to come out of a meeting led by new Fed Chair Kevin Warsh, who was handpicked by President Trump after months of pressuring the central bank to lower rates. But yesterday, the decision to hold rates at a range of three and a half to 3.75% was a unanimous one. It was actually the first policy vote in a year that did not have any opposition. And many Fed officials signaled their next move might be to raise interest rates, not cut them. That's largely because inflation has been heating up again, reaching its highest level in three years. Some Fed officials have also warned that tariffs could put additional pressure on prices in the months ahead. Granted, things could change. Warsh has actually said Fed leaders should talk less about future plans, so they have more flexibility to evolve as the economy does.