NPR News: 07-14-2026 3PM EDT

Speaker 10:00

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Lakshmi Singh· Host0:15

Live from NPR News, I'm Lakshmi Singh. Inflation in the United States has cooled. The three point five percent year-over-year increase posted in June was slower than the annual rate recorded in May. The slowdown happened during a lull in fighting between the US and Iran, even though attacks have escalated in recent days. Fed Chair Kevin Warsh went to Capitol Hill with a pledge to steer monetary policy toward bringing down inflation.

Kevin Warsh· Soundbite0:44

Now at the Fed, our number one objective is getting monetary policy right. That's our clear and constant aim, the star we steer by. And if we get policy right, and I can assure you we will, the inflation surge of the last five years will be a thing of the past.

Lakshmi Singh· Host1:06

President Trump hosted Iraqi Prime Minister Ali Al-Zaidi today. During a joint news conference, Trump defended a decision to reinstate the US blockade on the Strait of Hormuz as the war with Iran escalated. He also said there would not be a twenty percent toll on ships going through the critical passageway, but wanted to strike investment deals with other countries in the region. Israel's government has agreed