NEW YORK (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 she 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.” (Reporting by Michael S. Derby, Editing by Louise Heavens)

Police identified the man who was shot and killed by a security guard after targeting CrossPointe Community Church in Wayne, Michigan, on Sunday. Officials named Brian Anthony Browning, 31, from Romulus, Michigan, as the suspected gunman, The Detroit News reported. Browning was the son of a woman who is a member of the church, and he attended two or three services at CrossPointe in the past year. He might have been suffering from a mental health crisis, investigators said, adding that there is no evidence to suggest his alleged actions had any connection with the conflict in the Middle East. Wayne Police said that the suspect was driving erratically outside the church building before exiting his vehicle and firing his AR-15 style rifle at the church. Browning was also armed with a semi-automatic handgun and hundreds of rounds of ammunition. He was reportedly struck by a Ford F-150 driven by a church deacon, giving the security team time to take out the shooter. Authorities obtained a search warrant for Browning’s home in Romulus, which is just south of Wayne. At the residence, law enforcement found more rifles, handguns, and ammunition, according to The Detroit News. Browning had no criminal history or previous run-ins with Wayne Police. Police said that the church’s security team acted quickly after the gunfire erupted, locking the doors to protect congregants and then engaging with the alleged shooter. One of the security guards was injured after getting shot in the leg. The wounded security guard is in stable condition after undergoing surgery, according to authorities. “We are grateful for the heroic actions of the church’s staff members, who undoubtedly saved many lives and prevented a large-scale mass shooting,” said Wayne Police Chief Ryan Strong. Around 150 people, many of them children, were in attendance for the Sunday morning service. CrossPointe was holding a special vacation Bible school service, a summer program many churches put on for young children, when the shooter opened fire. A livestream video of the service showed the Christian worshipers ducking for cover after a security guard told them to evacuate as shots were fired outside the building. WATCH: People fleeing at Crosspointe Community Church in Wayne, Michigan after shooting. pic.twitter.com/jJXi1GXeWR — AZ Intel (@AZ_Intel_) June 22, 2025 FBI Deputy Director Dan Bongino said on Sunday that the bureau’s “leadership and support teams are on the ground, at the scene, in Wayne, Michigan providing assistance and investigative support.”

The exiled Crown Prince of Iran, Reza Pahlavi, is calling on the Iranian people to rid themselves of the tyrannical Islamic regime, declaring, “This is our Berlin Wall moment.” Pahlavi referred to the historic November 1989 moment when Germans on both sides of the Berlin Wall separating east and West Germany surged forward and crossed over the wall, marking the beginning of the end of East Germany’s repressive government. Pahlavi, speaking in Paris at a press conference, called for Iran Supreme leader Ali Khamenei to step down, asserting, “Our beloved Iran has been dragged into a devastating conflict, the architect of which is no other than Ali Khamenei and his corrupt destructive faction. He has driven our nation’s economy to the brink of collapse, plundered our national infrastructure and resources, squandered the nation’s wealth on developing nuclear weapons, shattered Iran’s security, and stolen the sovereignty of the Iranian people.” “Credible reports indicate that Ali Khamenei’s family and the family of senior officials are making preparations to flee Iran. The regime is on its last legs in towns and cities across the country. The military is fractured,” he noted. “I am establishing a formal channel for military security and police personnel to reach out directly to me, my team, and our expanding operation,” he announced. “This is a secure platform to efficiently manage the growing volume of inbound communications and requests from those breaking with the regime and seeking to join our movement.” Pahlavi’s speech came just a day after President Donald Trump called for “regime change” in Iran, saying it was time to “Make Iran Great Again.” “If the current Iranian Regime is unable to MAKE IRAN GREAT AGAIN, why wouldn’t there be a Regime change???” Trump wrote. Pahlavi warned that the destruction of the Natanz, Esfahan, and Fordow enrichment facilities had diminished the regime’s domestic nuclear enrichment, but did not diminish the regime’s intent to acquire and use nuclear weapons. “The regime, enraged and emboldened, will be seeking revenge, and can, it can nuclear weapons from other rogue regimes like North Korea,” he stated. “The destruction of the regime’s nuclear facilities alone will not deliver peace, but the path I offer can. So work with us to ensure a peaceful transition. Now is not the time for hesitation. Now is the time for principled action from each of us.” Looking forward, he said: Our transition and future democracy will be based on these three core principles: Iran’s territorial integrity, individual liberties and equality of all citizens; separation of religion and state. The final form of this future democracy we seek will be for the Iranian people to decide in a national referendum. What I offer is not just a vision for the future of our country, but a plan to execute a peaceful orderly transition. To achieve that, today I am announcing the following initial steps: First, I will convene a national unity summit. This gathering will include activists, dissidents, and groups from across the ideological spectrum who agree to these three principles. It will not be limited just to political groups, but business leaders, professionals, experts, and other groups with influence across Iranian society. This summit’s objective will be to agree on a road map for democratic transition and reconstruction. Second, in parallel to the democratic process, I am developing an economic plan to rebuild Iran. We have already launched the Iran Prosperity Project, a comprehensive plan for the economic reconstruction and social stabilization of our country in three phases. The emergency phase or the first 4 to 6 months; the establishment phase of 18 to 24 months, and the normalization phase, which is long-term. “Imagine this new Iran: a free and democratic Iran, living at peace with our neighbors, an engine of growth and opportunity in the region, a beacon of culture, innovation, and pride in the world. It is within our reach,” he declared. “We are a proud, ancient, resilient people. The task before us Iranians today  is no less than the ones faced by the great leaders, the great unifiers, the great builders of our history, like Cyrus the Great. As we embark on the final steps of this path to national revival, to liberation, to peace, we continue to be inspired by him. … This is our moment. I am with you. Let us build this Iran together.” The full text of the speech is below: My fellow compatriots: Our beloved Iran has been dragged into a devastating conflict, the architect of which is no other than Ali Khamenei and his corrupt destructive faction. He has driven our nation’s economy to the brink of collapse, plundered our national infrastructure and resources, squandered the nation’s wealth on developing nuclear weapons, shattered Iran’s security, and stolen the sovereignty of the Iranian people. This regime is defeated, teetering on the edge of collapse. and must not be allowed to continue. The time has come to end this reign and begin a new era for Iran. This is a new dawn for Iran‘s lion and sun. Ladies and gentlemen, over the past few days I have spoken with people across Iran from every walk of life; an officer in the Armed Forces; a mother fleeing Tehran; a factory worker from Tabriz; a young woman activist for the Women, Life, Freedom Movement. These voices represent a nation embattled but resilient that is not asking for his freedom; it is fighting for it. From the 1999 student protests to the Green Movement to the 2017 Dey and 2019 Aban  uprisings,  thousands of Iranians have given their lives in the fight for Iran‘s liberation. Today, millions of my brave compatriots continue the fight. One of their stories moved me deeply: In September 2022 Javad Heydari was murdered, protesting the Islamic republic’s killing of Mahsa Amini. His sister has continued his fight. She’s one of the hundreds of activists the regime has arrested and harassed in recent days. When security forces raided her home, she cried out, “Oh God, where shall we go? Where shall we go to flee from your tyranny?” One by one her neighbors began to respond to her: “We’re not going anywhere. They (meaning the regime)are the ones who’ve got to go.” These words echo in my heart and should echo in every corner of power around the world. Today it is clearer than ever. The Islamic Republic is collapsing. Credible reports indicate that Ali Khamenei’s family and the family of senior officials are making preparations to flee Iran. The regime is on its last legs in towns and cities across the country. The military is fractured. The people are united; the foundations of this 46-year tyranny are shaking. This is our Berlin Wall moment. But like all moments of great change, it comes fraught with danger. We stand at a crossroads. One road leads to bloodshed and chaos; the other, a peaceful and democratic transition. The difference in these two roads depends on one factor and one factor alone: whether the current regime in Iran is allowed to survive. If the West throws the regime a lifeline. there will be more bloodshed and chaos because this regime will not submit or surrender after it has been humiliated. It will lash out. As long as it is in power, no country and no people are safe, whether on the streets of Washington, Paris, Jerusalem, Riyadh, or Tehran. There’s only one way to achieve peace: a secular, democratic, Iran. I am here today to submit myself to my compatriots to lead them down this road of peace and democratic transition. I do not seek political power, but rather to help our great nation navigate through this critical hour toward stability, freedom and justice. To the people of Iran: I see your courage. I feel your pain. I know you are suffering. I know many of you are afraid for your loved ones, your children, your future. So I speak to you with a heavy heart. I worked for years, for decades, so that the scourge of war would never reach the borders of our land. Seeing the images of the people of Tehran forced to flee our beautiful capital, the explosions in Esfahan; the fires along the Persian Gulf; all fill me with pain. But more than pain, I am filled with anger because this war is the result of the selfishness, hatred and terror of one man: Ali Khamenei. While he directs this war from the safety of his hidden bunker, he uses our people as human shields. It is time to end the suffering. So today, I have a direct message for Ali Khamenei: Step down.  And if you do, you will receive a fair trial and due process of law, which is more than you have ever given any Iranian. To other senior regime officials, those of you whose who hands are soiled with the blood of the Iranian people, you too will have to face justice, but we will not repeat the mistakes in other failed transitions. To those who are loyal to the Iranian nation and not the Islamic Republic, there is a future for you in a democratic Iran — if you join the people now. The choice is yours to make. I know these officers, these soldiers, these brave men exist because they are reaching out to me and telling me they want to be part of this national salvation. But now greater coordination is needed. So, to that end, today I am announcing that I am establishing a formal channel for military security and police personnel to reach out directly to me, my team, and our expanding operation. This is a secure platform to efficiently manage the growing volume of inbound communications and requests from those breaking with the regime and seeking to join our movement. For those patriotic members of our own forces: The time is now to join the nation. If you do, I will make sure your service to Iran is not forgotten and is celebrated. To the international community: Now is the moment to stand with the Iranian people. Do not repeat the mistakes of the past. Do not throw this regime a lifeline. You are right to be concerned about stopping nuclear weapons and securing regional stability. Only a democratic transition in Iran can ensure these goals are achieved and are lasting. Take, for example, the destruction of Natanz, Esfahan, and Fordow enrichment facilities. Yes, this has diminished the regime’s domestic nuclear enrichment, but it does not diminish the regime’s intent to acquire and use nuclear weapons. The regime, enraged and emboldened, will be seeking revenge, and can, it can nuclear weapons from other rogue regimes like North Korea. The destruction of the regime’s nuclear facilities alone will not deliver peace, but the path I offer can. So work with us to ensure a peaceful transition. Now is not the time for hesitation. Now is the time for principled action from each of us. 46 years ago when my late father and our family were forced to leave Iran,  I took an oath to God and my country: I would not turn my back on Iran or the Iranian people. Every day since I have dedicated my life to my compatriots, and today, I am here to put myself at their service. I am stepping forward to lead this national transition, not out of personal interest, but as a servant of the Iranian people. I have a clear plan for transition and national renewal. Our transition and future democracy will be based on these three core principles: Iran’s territorial integrity, individual liberties and equality of all citizens; separation of religion and state. The final form of this future democracy we seek will be for the Iranian people to decide in a national referendum. What I offer is not just a vision for the future of our country, but a plan to execute a peaceful orderly transition. To achieve that, today I am announcing the following initial steps: First, I will convene a national unity summit. This gathering will include activists, dissidents, and groups from across the ideological spectrum who agree to these three principles. It will not be limited just to political groups, but business leaders, professionals, experts, and other groups with influence across Iranian society. This summit’s objective will be to agree on a road map for democratic transition and reconstruction. Second, in parallel to the democratic process, I am developing an economic plan to rebuild Iran. We have already launched the Iran Prosperity Project, a comprehensive plan for the economic reconstruction and social stabilization of our country in three phases. The emergency phase or the first 4 to 6 months; the establishment phase of 18 to 24 months, and the normalization phase, which is long-term. In the coming days, my team of experts will publish the plans for the first hundred days after the collapse of the Islamic Republic based on this work. We are bringing together some of the world‘s greatest investors, builders, entrepreneurs, and experts who care about Iran, and see its immense potential. They stand ready to put in the expertise, the talent, and the capital to rebuild our nation and turn it into one of the world‘s most attractive markets. Imagine this new Iran: a free and democratic Iran, living at peace with our neighbors, an engine of growth and opportunity in the region, a beacon of culture, innovation, and pride in the world. It is within our reach. We are a proud, ancient, resilient people. The task before us Iranians today  is no less than the ones faced by the great leaders, the great unifiers, the great builders of our history, like Cyrus the Great. As we embark on the final steps of this path to national revival, to liberation, to peace, we continue to be inspired by him. To my compatriots: This is our moment. I am with you. Let us build this Iran together. Thank you.

Secretary of State Marco Rubio, citing the reality that China would be severely damaged by Iran’s threat to close the Strait of Hormuz, challenged the Chinese government on Sunday to tell the despotic Iranian regime not to do so. “China in particular buys more oil from Iran than any other nation – with its imports from Iran surpassing 1.8 million barrels per day last month, according to data by ship tracking firm Vortexa,” the BBC noted. Iran’s state-run Press TV reported that the Iranian Parliament had endorsed closing the Strait of Hormuz, but the final decision would be made by the Supreme National Security Council. “Do you expect Iran to move to close the Strait of Hormuz, to try to disrupt oil transportation across the world?” Fox News’ Maria Bartiromo asked Rubio. “I encourage the Chinese government in Beijing to call them [Iran] about that, because they heavily depend on the Straits of Hormuz for their oil,” Rubio answered. “If they do that, it will be another terrible mistake; it’s economic suicide for them if they do it. And we retain options to deal with that, but other countries should be looking at that as well. It would hurt other countries’ economies a lot worse than ours. It would be, I think, a massive escalation that would merit a response, not just by us, but from others.” “So, look, they’re going to say what they need to say, you know,” he continued. “These are the things that need to happen for their own internal politics, and so forth. But in the end, we’re going to judge them by the actions that they take moving forward. We had three objectives; we struck those three objectives with decisive force, and that was the point of this mission. And what happens next will depend on what they do. If they want to negotiate, we’re ready to negotiate. If they want to get cute, and do things that are dangerous, we have responses available that are devastating.” Rubio’s words may well have been heard in China; on Monday, it was reported that China warned Iran to back down from its threat to close the Strait. China warns Iran after its threats to close the Strait of Hormuz:“The Persian Gulf and surrounding waters are critical trade routes and must remain stable and open.” pic.twitter.com/xzIrnzkVQd — Polymarket Intel (@PolymarketIntel) June 23, 2025 “We estimate that 84% of the crude oil and condensate and 83% of the liquefied natural gas that moved through the Strait of Hormuz went to Asian markets in 2024,” the U.S. Energy Information Administration has reported. “China, India, Japan, and South Korea were the top destinations for crude oil moving through the Strait of Hormuz to Asia, accounting for a combined 69% of all Hormuz crude oil and condensate flows in 2024. These markets would likely be most affected by supply disruptions at Hormuz.”

'Offensive and inappropriate'

'Her passing marks the end of an era'

'We showed them the timestamps'