RATINGS: Stable Outlooks Up For Review Later

“*TRUMP: TO DISCUSS IRAN DEAL DETAILS AT PRESS CONFERENCE TODAY” BBG

 “*TRUMP: STRAIT OF HORMUZ WILL BE OPEN IN NEXT DAY OR TWO” BBG

“*TRUMP: OIL PRICE IS COMING DOWN” BBG

“*TRUMP: STRAIT ALREADY PARTIALLY OPEN, WILL OPEN IN FULL” BBG

Following President Donald Trump's announcement that he is delaying the nomination of US Attorney for the Southern District of New York Jay Clayton to serve as Director of National Intelligence (DNI), it appears likely that Federal Housing Finance Agency director Bill Pulte will end up taking on the role of acting DNI from 19 June. 

• There is strong opposition from Democrats and some Republicans to Pulte's appointment. Some cite Pulte's lack of intelligence/security experience. Others argue that the launching of mortgage fraud cases against officials has been driven by Pulte, and is politically motivated to damage Trump's perceived enemies.
• In a Truth Social post earlier this morning, Trump said Clayton's nomination is delayed until his replacement, James McDonald, is confirmed by the Senate.
• Republican leadership had been looking to fast-track Clayton's confirmation hearing and vote in order to have him in place before Pulte takes on the acting DNI position. Democrats had also made Pulte's not taking the DNI role a key point in reauthorising FISA Sec. 702, which lapsed last week.
• Trump has also demanded that the SAVE America Act pass alongside FISA reauthorisation to bring back Clayton's nomination. This is a non-starter for Democrats and some Republicans.
• All of this together risks more legislative gridlock in Congress, and with the end-of-fiscal-year gov't shutdown deadline approaching on 30 Sep ahead of the midterms.

MNI speaks to ECB sources.-- On MNI Policy MainWire now, for more details please contact sales@marketnews.com