June 23, 2025: Trump Claims Mideast Ceasefire, Oil Slides After Announcement, More

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Episode Transcript

Speaker 1 (00:02):
News when you wanted with Bloomberg News. Now, I'm Doug Prisner.
We begin with a stunning announcement made earlier this evening
by President Trump. In a post on truth Social, Trump
said there was a tentative cease fire agreement between Israel
and Iran and that it would begin at midnight Washington time. However,
a short while ago, in a post on x, Iran's

(00:22):
foreign minister Abasarachi said, as of now, there is no
agreement on a ceasefire. Arachi said that Tehran will stop
its attacks if Israel stops its air strikes by four
a m. Tehran time. Here is Bloomberg's Jomana Barsecchi.

Speaker 2 (00:37):
Whether this ceasefire actually encourages the diplomatic channels to once
again be worked. Will Iran come back to the negotiating table.
Will they be willing to compromise even further and allow
for concessions that they weren't going to allow for prior
to this quote unquote twelve day war.

Speaker 1 (00:54):
That was Bloomberg's Jomana Barssecci. Meantime, oil prices are declining
after Trump's announcement. Here's Neil Beverage of ab Bernstein.

Speaker 3 (01:02):
We've got the unwinding of the two million barrels a
day of you know, opet cuts and those have been
accelerated in the market, so there's no physical shortage of
oil in the market right now. We didn't see any
disruption to any oil flows during this entire event. We've
actually seen more oil coming out of the Middle East,
so oil markets from a physical standpoint are well supplied.
So you know, I think we'd easily see Brent fall

(01:24):
down to the sixty sixty five dollars barrel range.

Speaker 1 (01:27):
Again, that was Neil Beverage from ab Burnstain speaking there.
So what does this geopolitical turmoil mean for the inflation outlook?
We heard earlier from Richard Clarida, global economic advisor at PIMCO.

Speaker 4 (01:39):
There's always an element of geopolitical risk in the world.
You really can't go into the bunker and hide from it.
You just have to adapt to it, and I think
this is an example of that. You know, markets will
try to look through and assess the fundamentals.

Speaker 5 (01:55):
I don't think you.

Speaker 4 (01:56):
Can get too caught up in the day to day
of volatility in times like this.

Speaker 1 (01:59):
That is former FED Vice chair Richard clard Is speaking
earlier to Bloomberg. Another FED official is keeping the door
open to an interest rate cut this summer. FED Vice
Chair for Supervision Michelle Bowman says she could support a
rate cut as soon as July. Speaking at a research
conference in Prague, Bowman also warned the current approach to

(02:20):
leverage ratio requirements has led to unintended consequences in the market.

Speaker 6 (02:25):
Once we've identified emerging unintended consequences or issues that were
not contemplated during the development of a new regulatory approach,
we must consider how to revisit earlier regulatory and policy decisions.
The time has come for the federal banking agencies to
revisit leverage ratios and their impacts on treasury markets.

Speaker 1 (02:46):
That is FED Vice Chair for Supervision Mickey Bowman. There
in the States, a federal judge has issued another court
order allowing Harvard University to continue hosting foreign students. This
preliminary injunction prevents the GUY government from enacting a June
fourth proclamation denying entry to international students planning to attend

(03:06):
the university. This ruling is the second win for Harvard
in its fight with the Trump administration over the university's
international student population. The Supreme Court will allow President Trump
to restart his program to swiftly deport migrants to countries
other than their homelands for now. Bloomberg's Amy Morris has
more from Washington, the.

Speaker 7 (03:28):
Supreme Court lifted a judge's order requiring the Trump administration
to give people ten days notice and a chance to
object before deporting them to a third country. The order
marks a shift for the High Court. The justices previously
pushed back against the administration's efforts to send some immigrants
to harsh or potentially dangerous locations with minimal notice. The

(03:49):
decision drew a scathing descent from Justice Sonya Sono Mayor,
who said the High Court's action was a gross abuse
of its authority. In Washington, Amy Morris Bloomberg Radio.

Speaker 1 (03:59):
NATO member countries are converging on the hay The summit
is happening tomorrow and Wednesday. Secretary General Mark Rutte says
new investments for defense are necessary and he is hoping
member countries will put in five percent of their respective
GDP numbers.

Speaker 5 (04:15):
As the world becomes more dangerous, Arave leaders will take
both decisions to strengthen our collective defense, making NATO a stronger,
a fairer, and a more lethal alliance.

Speaker 1 (04:29):
That is NATO's Secretary General Mark Rutta speaking there By
the way, President Trump is set to attend the NATO summit,
and that is news when you want it. With Bloomberg
News now, I'm Doug Chrisner and this is Bloomberg