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Speaker 1: News when you wanted with Bloomberg News. Now, I'm Doug Prisner.

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Speaker 1: We begin with a stunning announcement made earlier this evening

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Speaker 1: by President Trump. In a post on truth Social, Trump

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Speaker 1: said there was a tentative cease fire agreement between Israel

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Speaker 1: and Iran and that it would begin at midnight Washington time. However,

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Speaker 1: a short while ago, in a post on x, Iran's

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Speaker 1: foreign minister Abasarachi said, as of now, there is no

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Speaker 1: agreement on a ceasefire. Arachi said that Tehran will stop

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Speaker 1: its attacks if Israel stops its air strikes by four

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Speaker 1: a m. Tehran time. Here is Bloomberg's Jomana Barsecchi.

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Speaker 2: Whether this ceasefire actually encourages the diplomatic channels to once

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Speaker 2: again be worked. Will Iran come back to the negotiating table.

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Speaker 2: Will they be willing to compromise even further and allow

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Speaker 2: for concessions that they weren't going to allow for prior

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Speaker 2: to this quote unquote twelve day war.

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Speaker 1: That was Bloomberg's Jomana Barssecci. Meantime, oil prices are declining

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Speaker 1: after Trump's announcement. Here's Neil Beverage of ab Bernstein.

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Speaker 3: We've got the unwinding of the two million barrels a

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Speaker 3: day of you know, opet cuts and those have been

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Speaker 3: accelerated in the market, so there's no physical shortage of

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Speaker 3: oil in the market right now. We didn't see any

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Speaker 3: disruption to any oil flows during this entire event. We've

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Speaker 3: actually seen more oil coming out of the Middle East,

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Speaker 3: so oil markets from a physical standpoint are well supplied.

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Speaker 3: So you know, I think we'd easily see Brent fall

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Speaker 3: down to the sixty sixty five dollars barrel range.

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Speaker 1: Again, that was Neil Beverage from ab Burnstain speaking there.

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Speaker 1: So what does this geopolitical turmoil mean for the inflation outlook?

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Speaker 1: We heard earlier from Richard Clarida, global economic advisor at PIMCO.

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Speaker 4: There's always an element of geopolitical risk in the world.

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Speaker 4: You really can't go into the bunker and hide from it.

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Speaker 4: You just have to adapt to it, and I think

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Speaker 4: this is an example of that. You know, markets will

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Speaker 4: try to look through and assess the fundamentals.

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Speaker 5: I don't think you.

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Speaker 4: Can get too caught up in the day to day

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Speaker 4: of volatility in times like this.

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Speaker 1: That is former FED Vice chair Richard clard Is speaking

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Speaker 1: earlier to Bloomberg. Another FED official is keeping the door

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Speaker 1: open to an interest rate cut this summer. FED Vice

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Speaker 1: Chair for Supervision Michelle Bowman says she could support a

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Speaker 1: rate cut as soon as July. Speaking at a research

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Speaker 1: conference in Prague, Bowman also warned the current approach to

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Speaker 1: leverage ratio requirements has led to unintended consequences in the market.

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Speaker 6: Once we've identified emerging unintended consequences or issues that were

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Speaker 6: not contemplated during the development of a new regulatory approach,

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Speaker 6: we must consider how to revisit earlier regulatory and policy decisions.

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Speaker 6: The time has come for the federal banking agencies to

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Speaker 6: revisit leverage ratios and their impacts on treasury markets.

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Speaker 1: That is FED Vice Chair for Supervision Mickey Bowman. There

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Speaker 1: in the States, a federal judge has issued another court

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Speaker 1: order allowing Harvard University to continue hosting foreign students. This

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Speaker 1: preliminary injunction prevents the GUY government from enacting a June

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Speaker 1: fourth proclamation denying entry to international students planning to attend

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Speaker 1: the university. This ruling is the second win for Harvard

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Speaker 1: in its fight with the Trump administration over the university's

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Speaker 1: international student population. The Supreme Court will allow President Trump

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Speaker 1: to restart his program to swiftly deport migrants to countries

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Speaker 1: other than their homelands for now. Bloomberg's Amy Morris has

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Speaker 1: more from Washington, the.

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Speaker 7: Supreme Court lifted a judge's order requiring the Trump administration

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Speaker 7: to give people ten days notice and a chance to

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Speaker 7: object before deporting them to a third country. The order

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Speaker 7: marks a shift for the High Court. The justices previously

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Speaker 7: pushed back against the administration's efforts to send some immigrants

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Speaker 7: to harsh or potentially dangerous locations with minimal notice. The

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Speaker 7: decision drew a scathing descent from Justice Sonya Sono Mayor,

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Speaker 7: who said the High Court's action was a gross abuse

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Speaker 7: of its authority. In Washington, Amy Morris Bloomberg Radio.

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Speaker 1: NATO member countries are converging on the hay The summit

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Speaker 1: is happening tomorrow and Wednesday. Secretary General Mark Rutte says

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Speaker 1: new investments for defense are necessary and he is hoping

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Speaker 1: member countries will put in five percent of their respective

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Speaker 1: GDP numbers.

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Speaker 5: As the world becomes more dangerous, Arave leaders will take

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Speaker 5: both decisions to strengthen our collective defense, making NATO a stronger,

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Speaker 5: a fairer, and a more lethal alliance.

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Speaker 1: That is NATO's Secretary General Mark Rutta speaking there By

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Speaker 1: the way, President Trump is set to attend the NATO summit,

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Speaker 1: and that is news when you want it. With Bloomberg

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Speaker 1: News now, I'm Doug Chrisner and this is Bloomberg