US DATA: Underlying Core Goods Pressures Return, But Only One Month For Now
* As noted above, core goods inflation was stronger than expected on the month at 0.20% M/M (MNI c...
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IRAN: Airbase Spox Threatens Flames Engulfing The Region If War Expands
Fars covers comments from the spokesperson of the Khatam al-Anbiya Base noting that "If the war expands, its flames will engulf the entire region. The responsibility for any insecurity and escalation of conflict in the region lies with the United States and the countries that cooperate with its military."
US: Speaker Johnson Meets Trump To Pitch SAVE Act/Reconciliation Plan
House Speaker Mike Johnson (R-LA) is likely to pitch President Donald Trump a plan to include the SAVE America Act in a third GOP reconciliation bill, when the pair meet in the Oval Office at 15:00 ET 20:00 BST today. Johnson is eying Trump's support in ending a conservative rebellion over SAVE that has derailed the House agenda for three weeks.
- If Johnson can convince Trump that a modified version of SAVE that offers financial incentives for states to adopt some elements of SAVE can be attached to a third reconciliation bill, it might be enough to force the GOP rebels to stand down. Politico reports, “Vice President JD Vance will speak with House Republicans Tuesday morning and encourage them to reopen the floor and advance Trump's agenda.”
- Politico reports, “House GOP leaders and House Budget Committee Republicans are at Camp David today for a series of private meetings on another reconciliation package…"
- Punchbowl reports, “Johnson is hoping that House Budget Committee Republicans settle on a spending framework for a third reconciliation package in the next few days... Johnson wants the Budget Committee to move the resolution out of the panel very quickly," and is "hopeful that the House could consider the measure on the floor later this week and pass it on a party-line vote.”
- Johnson is also likely to ask for Trump assistance in efforts to stop GOP members from seeking appointment to Senator Linsday Graham’s vacant US Senate seat, given Republicans’ narrow majority in the House.
IRAN: Joint Army Command Will Not Allow U.S. Interference In Hormuz
"IRAN'S TOP JOINT MILITARY COMMAND SAYS IRAN WILL NOT ALLOW THE U.S. TO INTERVENE IN THE MANAGMEENT OF THE STRATI OF HORMUZ" – Reuters
- "IRAN'S TOP JOINT MILITARY COMMAND SAYS ANY ATTEMPT BY THE U.S. TO TRANSIT THROUGH THE STRAIT WITHOUT IRAN'S AUTHORIZATION WILL BE STRONGLY CONFRONTED"
- "IRAN'S TOP JOINT MILITARY COMMAND: TO LEADERS OF REGIONAL COUNTRIES, ANY COOPERATION WITH THE U.S. WILL BE CONSIDERED WAR AGAINST IRAN"
