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In a primetime address to the nation, President Trump said the Iran war is wrapping up. Can he deliver on that timeframe?
Join guest moderator Vivian Salama, Idrees Ali of Reuters, Peter Baker of The New York Times, Susan Glasser of The New Yorker and Michelle Price of The Associated Press to discuss this and more.
WATCH TODAY’S SEGMENTS:
Trump's Iran war address leaves questions unanswered
• Trump says Iran war wrapping up, but addre...
After Bondi's ouster, who could be next?
• After Bondi's ouster, who could be the nex...
"There will be a great many in the American military who will be pulling their hair out, at the incompetence of the way, these this operation has been, has been conducted."
The US military's decades long preparations for war with Iran appear to have badly thrown off course by poor planning in the White House, says Prof. Dan Plesch from SOAS University of London and author of the paper Considering War with Iran.
When neutral countries start treating the United States as just another belligerent—not an exception—you’re no longer looking at alliance strain.
You’re looking at a reclassification of power.
Continental Resources founder and Chairman Harold Hamm joins ‘Mornings with Maria’ to warn of oil price spikes tied to Iran’s Strait of Hormuz threat and underscore America’s energy dominance under President Donald Trump.
The strongest labor market in the world isn’t collapsing with layoffs. It’s freezing in place—and that’s a far more dangerous signal. Because when hiring stops before layoffs begin, you’re not in a recession yet… you’re standing at the edge of one.
📉 Historic collapse: US hiring rate fell to 3.1%—matching April 2020 pandemic shutdown levels
👥 Hiring gap: 6.9 million job openings vs just 4.8 million hires—millions of roles not being filled
🔒 “Great Stay”: Quits rate stuck at 1.9%, near record lows—workers too uncertain to move
⚖️ Net contraction: 5.0 million separations vs 4.8 million hires—employment quietly shrinking
🏗️ Broad freeze: Even fallback sectors like hospitality and construction are slowing
⛽ Pre-war weakness: Data reflects February—before the Iran shock hit energy, inflation, and demand
🏦 Policy trap: Federal Reserve faces stagflation risk—can’t cut or raise without consequences
Europe is weighing the repatriation of about $245 billion in gold from the Federal Reserve Bank of New York as confidence in America’s financial and political stability starts to weaken.
The deeper issue is that this loss of confidence is no longer showing up only in stocks. For months, markets behaved as if there was an unofficial safety net under risk assets, often described as the “Trump put.” The idea was that whenever stress intensified, Trump could calm investors with softer rhetoric, delayed deadlines, or hints of deescalation. That pattern worked for a while because investors believed he still had control over the direction of the crisis.
But that belief is now fading. Barclays says the effect is weakening, and recent market moves help explain why. The S&P 500 dropped 1.7% in a single day and posted its fifth straight weekly loss, its worst streak since 2022. The Nasdaq fell 13% below its October high, entering correction territory, while Brent crude climbed back above $100 a barrel.
What makes this more serious is that the disruption is no longer just psychological. The Strait of Hormuz is effectively closed, Iran continues retaliatory strikes, and Gulf refineries have been damaged. Around 30% to 40% of Gulf refining capacity has been destroyed, which means the supply shock is physical, not theoretical. That makes markets much harder to calm with words alone.
Barclays now expects global growth in Q4 2026 terms to slow to 2.9%, while global inflation rises to 2.7% by the end of 2026. For advanced economies, projected growth is even weaker: 0.7% in the euro area, 1% in the UK, and 1.4% in Japan.
The most important signal is that this stress is spilling into sovereign behavior. Germany, which holds 3,351 tons of gold, and Italy, with 2,452 tons, are discussing whether reserves stored in New York should be brought home. About 37% of Germany’s gold and 43% of Italy’s gold remain there.
Germany already repatriated 674 tons from New York and Paris between 2013 and 2017 at a cost of €7 million, so there is already a real precedent. If that debate turns into policy, it would suggest the problem is no longer market volatility alone, but a broader erosion of trust in the system itself.
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