Iran's Atomic Energy Organization says it will not allow nuclear development to stop

CAIRO, June 22 (Reuters) - Iran's Atomic Energy Organization said on Sunday it would not allow the development of its "national industry" - an apparent reference to the country's nuclear development - to be stopped.
It also said the attacks on its nuclear sites violate international law, without clarifying the extent of the damage from the U.S. strikes that President Donald Trump announced earlier.

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Reuters

39 minutes ago

• Reuters

Fed's Bowman open to cutting rates at July policy meeting

NEW YORK, June 23 (Reuters) - Federal Reserve Vice Chair for Supervision Michelle Bowman, recently tapped by President Trump as the central bank's top bank overseer, said Monday the time to cut interest rates may be fast approaching as she is growing more worried about risks to the job market and is less concerned tariffs will cause an inflation problem. 'It is time to consider adjusting the policy rate,' Bowman said in the text of remarks to be delivered before a gathering held in Prague, Czech Republic. Bowman said inflation appears to be on a sustained path back to 2% and she said she expects 'only minimal impact' on inflation from trade policy. 'Should inflation pressures remain contained, I would support lowering the policy rate as soon as our next meeting in order to bring it closer to its neutral setting and to sustain a healthy labor market,' Bowman said. Last week, the Federal Reserve meeting in a gathering that left its overnight target-rate range fixed between 4.25% and 4.5%. Officials remained in a wait-and-see mode amid the considerable economic uncertainty created by President Donald Trump's erratically implemented trade policy. Fed officials are worried surging import taxes could depress growth while restarting what had been cooling inflation pressures. Bowman said in her speech that she supported the Fed's decision to hold steady. But the appears to see far fewer storm clouds ahead for the economy, and in her speech, she said more clarity is arriving over the outlook. Bowman's openness to cutting rates is joined by that of Fed Governor Christopher Waller, who said in a television interview Friday he'd also consider a rate cut at the July 29-30 meeting. Waller is widely considered to be in the running to succeed Fed Chair Jerome Powell, whose term ends next year. Trump has repeatedly pressured the Fed to pursue very large rate cuts amid insults to Powell. Observers believe any Fed chair would need to align with Trump's desire for much lower short-term borrowing costs. In her remarks, Bowman noted the job market is still in a good place but she's more worried about what lies ahead for the sector, and that's part of what's informing her dovish monetary policy views. 'We should also recognize that downside risks to our employment mandate could soon become more salient, given recent softness in spending and signs of fragility in the labor market,' Bowman said. The Fed official was also quite sanguine on the inflation outlook, saying 'it appears that any upward pressure from higher tariffs on goods prices is being offset by other factors and that the underlying trend in core [Personal Consumption Expenditures] inflation is moving much closer to our 2% target than is currently apparent in the data.'

Daily Mail​

42 minutes ago

• Daily Mail​

Never here Keir! Starmer won't come to the Commons to field questions on Iran crisis and will miss PMQs AGAIN this week... after dodging grilling on grooming gangs

Keir Starmer will not field questions from MPs on the Iran crisis today amid criticism that he is dodging scrutiny. The PM is sending Foreign Secretary David Lammy to deliver a Commons statement on the burgeoning crisis in the Middle East this afternoon. Mr Lammy will come under huge pressure to justify the UK's position of refusing to say whether or not it backs US strikes on Iran's nuclear sites. Sir Keir, who is meeting Volodymyr Zelensky this afternoon, is expected to take Cabinet but not be in the House tomorrow. He will miss PMQs for the second week running on Wednesday as he is due at the Nato summit in The Hague. By Thursday, when he is due to make an appearance, the premier will not have spoken in the chamber for more than two weeks. Sir Keir has still not updated the elected chamber on the G7 summit in Canada last week - something that by convention happens as soon as possible. Sir Keir is under huge pressure to justify the UK's position of refusing to say whether or not it backs Donald Trump's strikes on Iran nuclear sites He was previously criticised for delaying his return from that gathering to dodge a grilling on grooming gangs. The summit wrapped up on Tuesday night, but Angela Rayner stood in at the weekly PMQs session the following lunchtime. The bombshell report by Baroness Casey condemning institutions for ignoring ethnic factors in sexual abuse of children dominated clashes in the House. Sir Keir had chosen to announced his extraordinary U-turn to back a statutory national inquiry into the scandal as he left the country for Canada the weekend before. The PM had spent months resisting demands from Opposition politicians and campaigners to trigger a new probe. But he shifted his position after reading the damning conclusions of Lady Casey's rapid review. Sir Keir was in Alberta when Home Secretary Yvette Cooper made an apology to victims on behalf of the state, and published the Whitehall troubleshooter's report. Although he faced questions from the media at the G7 - which has been dominated by the Israel-Iran crisis - Tory leader Kemi Badenoch said Sir Keir 'should have been in the chamber this week talking about this issue'. Ms Rayner will again fill in for Sir Keir in the chamber this Wednesday. Lib Dem leader Ed Davey said: 'The Prime Minister has not even spoken once in the Commons since this crisis began.

The Independent

43 minutes ago

• The Independent

Trump pleads with oil companies to keep prices down after Iran blockade threat

Donald Trump is calling on 'everyone' to 'keep oil prices down' and has commanded the Department of Energy to open up drilling after oil prices surged to their highest levels in the wake of the president's attacks on Iranian nuclear facilities. 'EVERYONE, KEEP OIL PRICES DOWN,' he wrote in an all-caps message on Truth Social on Monday. 'I'M WATCHING! YOU'RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON'T DO IT!' he added. In a separate post, he ordered the Department of Energy to 'DRILL, BABY, DRILL!!! And I mean NOW!!!' International energy traders have braced for massive disruptions following Iran's parliamentary vote to support the closure of the Strait of Hormuz, a strategically important choke point for the world's oil supply. Within hours after Saturday's attacks, roughly 50 oil tankers were seen scrambling to leave the strait. 'We're on it!' energy Secretary Chris Wright responded to Trump's post. 'Thanks to President Trump's leadership, America's energy security is stronger than ever before.' U.S. crude oil futures surged by more than 6 percent to peak at $78 a barrel on Sunday — more than $1 higher than the price set at the time of Trump's inauguration on January 20. The spike is likely to trickle down to gasoline prices as Americans prepare for a three-day Fourth of July weekend.