WATCH: Bessent doesn't confirm possible U.S.-Iran agreement

Added: 2026-06-03

[00:00:00], well, we're starting to see this disruption of the oil supply and food straightforward moves affect economic data, you know. First, is there a deal on the table for a 60 day ceasefire to continue that.

[00:00:12]And then second, how fast could inflation then recede or retreat or as inflation sticky because the VCE was at a 3-year high. Well, first of all, PCU today month over month was 0.2, which was we're we're looking at decimal points, but the estimate was 0.3, so one month doesn't a trend make and what we've seen is actually oil prices are down about 10% in May. They're almost 2000 ships waiting to come out of the Gulf, and I think the oil market is going to be very well supplied on the other side of this and that we could see prices come down very quickly. We saw the UAE, the OPEC, so I would expect on the other side of this that gasoline prices will follow. on the table. Sorry, is there an agreement with Iran on the table. The teams have been going back and forth, and President Trump has made it very clear. He talked about it at the cabinet meeting that he has several red lines, and Iran has to turn over their highly enriched uranium. They cannot pursue a nuclear weapon, and the Strait of Hormuth. Back to your question on energy, has to free transit, navigation of the seas has to be free and open as it was before, so he's not going to take a bad deal. He's going to make a great deal for the American people