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U.S. Releases Official 14-Point Agreement with Iran; Senate Intelligence Chairman: Clayton's DNI Hearing is Off; Trump Takes Questions from Reporters Upon Arrival in Paris; New Fed Chair Speaks After Overseeing First Rate Meeting; Fed Keeps Rates Steady as Warsh Helms First Fed Meeting 3-3:30p ET

Aired June 17, 2026 - 15:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

CRAIG FERGUSON, "CRAIG FERGUSON: AMERICAN ON PURPOSE" HOST: ... ostentatious success was the way to -- to put forward your individuality though.

UNIDENTIFIED MALE: That's right.

FERGUSON: Like you've made it. You've got the American Dream.

UNIDENTIFIED MALE: Right, (INAUDIBLE) ...

FERGUSON: And an individual actually made a piece of art?

(END VIDEO CLIP)

BORIS SANCHEZ, CNN HOST: Be sure to tune in a new episode of "Craig Ferguson: American on Purpose" air Saturday at 9 P.M. Eastern on CNN and the next day on the CNN app. A new hour of CNN NEWS CENTRAL starts right now.

BRIANNA KEILAR, CNN HOST: The official agreement between the U.S. and Iran to end the months-long war has now been made public. Ahead, what's in and what's notably left out.

And President Trump says he is canceling hearings for his own nominee to serve as director of National Intelligence. Hear why the President is upending what was to be a quick confirmation.

Also, we're hearing some new details about Ghislaine Maxwell and the prison where the accomplice of Jeffrey Epstein is being held after a visit by congressional staffers. We'll share what they found.

We're following these major developing stories and many more, all coming in right here to CNN NEWS CENTRAL.

SANCHEZ: We start this hour with breaking news. President Trump just arriving in Paris, where he will meet with French President Emmanuel Macron after wrapping up the G7 summit earlier today. The U.S. agreement with Iran front and center in those discussions, the White House releasing its official 14-point memorandum of understanding with Tehran just a short time ago.

In it, Iran says it will not develop or buy nuclear weapons. The regime there also gets immediate relief to sell oil, as well as sanctions relief from the U.S. Tehran is committing to reopening, in exchange, the Strait of Hormuz for free passage, at least for 60 days. The U.S. and regional partners are also ensuring financing of at least $300 billion to rebuild Iran. The agreement calls for an end to military operations on all fronts, including Lebanon, despite Israel not being a signatory to this deal, while opening the door for a 60- day negotiation period to finalize long-term nuclear issues.

President Trump also made clear what he says will happen if that full deal isn't realized.

(BEGIN VIDEO CLIP)

DONALD TRUMP, PRESIDENT OF THE UNITED STATES: And it's a memorandum of understanding. If it doesn't get done in 60 days, that's all right. We go back to bombing. You know, I don't want to do that because it's so good, but we might have to because we're never going to let them have a nuclear weapon. But they've agreed not to, and you'll see that very clearly in the agreement.

(END VIDEO CLIP)

SANCHEZ: CNN's Alayna Treene is live for us in Versailles, where the President is set to arrive soon and have dinner with Emmanuel Macron.

So, Alayna, what's on the President's agenda for the rest of this visit to Europe?

ALAYNA TREENE, CNN WHITE HOUSE REPORTER: Yes, look, so the President, we're told, had just touched down, his plane, in Paris. He's going to make a short drive here to the Palace of Versailles. I'm told he's expected to go and walk through the Hall of Mirrors. He might visit a chapel, but then really he's going to have this dinner in honor of him hosted by the French president, Emmanuel Macron. I'd note that this is separate to the summit that someone was already included, but Macron had invited the President for this dinner.

The President actually said yesterday, and kind of a funny comment, he noted, you know, when asked about coming to Versailles, that he likes beautiful things.

But I do want to get a little bit into what is really, of course, dominated the entire discussion at the G7 over the past three days, and it is this memorandum of understanding between the United States and Iran. As you mentioned, Boris, we now have the 14 points that are in this text that are expected to be signed in a formal ceremony on Friday here in Switzerland.

One of the key things I should note, that we did obtain a draft version of this earlier today, there are new details added in this final version. One of the things that is different is what it spells out on the nuclear program, and specifically it says that the U.S. will work, and it will undertake to, excuse me, I'm reading a different part of us, but that essentially they will work with the Iranians and there's this agreement laid out for different mechanisms to kind of unblend, something that will be overseen by the International Atomic Energy Agency.

Something about this, though, that I should know, it is that really when you ask about the nuclear program, obviously this is one of the key things that has been a goal of the President's to settle when this war started. I had many conversations with officials, particularly yesterday, some of those who have been involved in these negotiations, who told me that despite what is in the text of this memorandum of understanding, there have been back-channel conversations with the Iranians looking forward to the 60-day, highly technical negotiations, where they've had some, you know, back-channeled commitments that have been made from Iran, where they feel positive in moving forward to this next phase.

[15:05:01]

So, again, even though the nuclear part of this is only one paragraph, something, and I think, you know, you're seeing critics already respond to, that is something that officials are trying to say, and you did hear one of the officials who spoke with reporters on a phone call today, who was reading the text to them, they essentially argued that they have a lot of understandings in our discussion. They called it a gentleman's agreement. So, just to give you a sense of that.

But, by and large, what this agreement does is it seeks to reopen the Strait of Hormuz. It seeks to try to have these more specific conversations down the line in this 60-day period. And also, there is, of course, discussion of potential financial benefit for Iran if they comply with what is outlined in this. But a lot of new provisions that are finally coming to light after days of people, including leaders who were attending that summit, really wanted to see the specifics of. Now, they can read the text.

SANCHEZ: Alayna Treene, thank you so much for the latest from Versailles. Brianna.

KEILAR: Confusion today on Capitol Hill about an hour before a hearing was set to begin. Senate Intelligence Chairman Tom Cotton said Jay Clayton's confirmation hearing to serve as director of National Intelligence was being postponed after President Trump told Clayton not to show up. The President is accusing lawmakers of moving too fast to confirm Clayton, and he's vowing to hold up a critical spying measure, FISA reauthorization, unless a separate voter ID measure, separate and unrelated, by the way, is attached to it.

CNN's Lauren Fox is on the Hill for us to talk about this.

Lauren, what are the details? What are you hearing from senators about him linking these two things and pulling this confirmation hearing?

LAUREN FOX, CNN CONGRESSIONAL CORRESPONDENT: Yes, Brianna, a lot of frustration from some Senate Republicans up here on Capitol Hill, in part because they really believe that they were on a fast track to approving Jay Clayton to be the next DNI at a moment where many Republicans, as well as Democrats, were worried about Bill Pulte, who Trump had selected to be his acting DNI, stepping into that role. So, right now Republicans are a little bit flummoxed because they believe that they had been working in good faith with Democrats. They've been getting signals that Democrats were willing to try to move this nomination as expeditiously as possible. And then you just had Donald Trump, as one member put it, throwing a grenade into this entire process by saying on Truth Social, in the wee hours of the morning, while many senators were sleeping, that he did not believe that Jay Clayton's nomination should go forward today before the Senate Intelligence Committee.

A couple hours later, you had Senator Tom Cotton, who's the top Republican on that committee, making clear that he wanted to continue having this hearing unless he got word that Donald Trump didn't want Clayton coming before the committee later today. Well, clearly he got that word, because a couple hours later Cotton made clear that he was disappointed, but that they were going to be postponing this confirmation hearing.

A couple of key things to keep in mind about what Donald Trump is demanding. He does want to include that voter ID law as part of the FISA reauthorization. Those two things are unrelated. And I would just point out that there isn't support even among Republicans in the Senate for that voter ID law on its own. It would need 60 votes in the Senate. It doesn't even have enough Republican support to get a majority of the vote. So, a lot of Republicans are shaking their head right now, feeling like they were on a fast track to getting Jay Clayton to serve as DNI, someone who's popular, someone who a lot of Republicans have worked with in the past. Now, they are basically starting back at zero. Brianna.

KEILAR: A lot of whiplash there.

Lauren Fox, thank you for that report.

Still to come, the Federal Reserve leaving rates steady as its new chief signals the central bank will deliver on its promise to fight inflation. The big takeaways from the decision next.

Plus, Luigi Mangione's defense team has revealed its defense plan for his upcoming trial. We'll have a CNN legal analyst joining us to break that down.

And then later, dramatic videos showing the moment the bystanders rushed to rescue passengers out of a fiery plane crash on a Texas highway. We'll have that and much more coming up on CNN NEWS CENTRAL.

(COMMERCIAL BREAK)

[15:13:32]

KEILAR: All right the President -- President spoke just moments ago as he arrived in Paris talking about the Fed and this agreement with Iran, let's listen.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: (INAUDIBLE) ...

TRUMP: Say it.

UNIDENTIFIED MALE: Do you see the Fed decision may held (INAUDIBLE) ...

TRUMP: It's all right, whatever.

UNIDENTIFIED MALE: And it looks like they might even raise them later this year, it's not clear, do you have any comment on them?

TRUMP: It could happen. I mean, I -- it's hard to believe. It just keeps a country down, you know, so -- it's so unusual, but we have a very good guy over there now so I'm guided by what he wants.

(CROSSTALK)

TRUMP: Was this his first time?

UNIDENTIFIED MALE: Yes.

TRUMP: Yes, I don't know. I saw a statement that just came out.

UNIDENTIFIED MALE: Do we have any clarity on when the deal will be signed, when the memorandum (INAUDIBLE) ...

TRUMP: Over the next I'd say 48 hours.

UNIDENTIFIED MALE: Forty-eight hours (INAUDIBLE) ...

TRUMP: I'd say 48 hours.

UNIDENTIFIED MALE: Is it still in Geneva?

TRUMP: We haven't -- we haven't determined it yet. It's -- it's in final form. We haven't determined it.

UNIDENTIFIED MALE: (INAUDIBLE) how long will you leave the U.S. military in the Gulf?

TRUMP: What?

UNIDENTIFIED MALE: How long will you leave the U.S. military in the Gulf?

TRUMP: It's a good question. We haven't thought of it. We really -- probably a while. It's good place to stay. Question was how long will you leave the military in the Gulf, I would say a little while. See -- see how it all goes. I think it's going to go well, but we'll see so I will see you guys at the Versailles.

UNIDENTIFIED MALE: Can I follow up quickly ...

TRUMP: Yes.

UNIDENTIFIED MALE: ... at something you said at the press conference. You said you don't mind Iran having ballistic missiles, can you elaborate on that? I -- I want to make sure we understand it completely.

[15:15:05]

TRUMP: No, I want -- I'm saying that if other countries have them, it's a little bit unfair for them not to have some. A ballistic missile is not the same thing as what we're talking about when we talk nuclear. But if Saudi Arabia and Qatar and they all have some I would say in relative proportion I think it's okay that's what I mean, okay?

UNIDENTIFIED MALE: Mr. President, how important is it in the MOU which just came out that Iran commits not only to not pursue nuclear weapons but also resolve the nuclear (INAUDIBLE) ...

TRUMP: It's great, much less important, because it's very hard to get at that, very -- I don't think anybody could get it and we could get at it with great work and a lot of time. But the B-2 bombers and those great pilots now you understand they did their job, so much less important than not having a nuclear weapon.

UNIDENTIFIED MALE: So, what -- what do you expect -- the night at the dinner -- is this a kind of -- king of part of a long farewell to President Macron?

TRUMP: No, it's not really for that. He just -- I think he's just honoring our country and you have the biggest people from Europe, great people you -- you might have a list, do you have a list of the people? Very impressive group of people.

UNIDENTIFIED MALE: There was a hot mic moment at the G7 where the Canadian Prime Minister was talking to other Chinese car cap and he said you said you like it. Can you comment about that?

TRUMP: I like what?

UNIDENTIFIED MALE: The -- the cap that China -- that Canada put on Chinese car import. You were talking about it with Carney.

TRUMP: Well, I don't ...

UNIDENTIFIED MALE: What do you think of that?

TRUMP: ... I don't know that I said I like it, but I could understand that, yes.

UNIDENTIFIED MALE: Is that a factor?

TRUMP: A cap -- would I rather see a cap than no cap? Yes, I would, on -- on Canada.

UNIDENTIFIED MALE: Would the U.S. ever consider allowing Chinese cars?

TRUMP: Well, we haven't. They pay over a hundred percent tariff, so we don't have the problems that Europe has or Canada.

UNIDENTIFIED MALE: How -- how long do you hope USMCA negotiations or reviews go on?

TRUMP: Well, it's not something that's -- to me I think it's better without it I mean to be honest with you, like I'm not a big fan of it. I liked it because it got us out of NAFTA in other words after six years you had to close it, got us out of NAFTA. That's the thing I liked about it most. We do better without an agreement.

UNIDENTIFIED MALE: Do you want to just leave it in rolling ...

TRUMP: I would rather leave it unsigned. I'd rather have it terminated.

UNIDENTIFIED MALE: You rather have it terminated. Now, those are two different things, right? I just want to (INAUDIBLE) clear.

TRUMP: I would rather not have the agreement.

UNIDENTIFIED MALE: Okay.

TRUMP: But it -- I may sign it.

UNIDENTIFIED MALE: Right.

TRUMP: But I would rather -- we do better as a country if we don't have an agreement.

UNIDENTIFIED MALE: So, are you thinking of ...

TRUMP: Yes, I'm thinking about maybe we won't be able to make a deal. I would rather not have the USMCA, The primary reason I wanted it was because there was no way out of NAFTA which is the worst trade agreement ever made like ever and they had no determination and it was very hard to get USMCA for that reason and I had a six-year close. Who would have thought I would have been here in the six years?

They got it six years because they hoped I wouldn't be here. My term was supposed to be over with. So, on top of everything else it comes to -- I would prefer not having an agreement, but I'm open to doing it. We'll see what happens.

UNIDENTIFIED MALE: So, as of now it's just going to stick around for ten years, you're aware of that?

TRUMP: We're not -- no, it's not sticking around -- it'll be terminated in other words ...

UNIDENTIFIED MALE: After a decade.

TRUMP: ... it expires.

UNIDENTIFIED MALE: Yes. Yes, in a decade.

TRUMP: It expires.

UNIDENTIFIED MALE: Yes.

TRUMP: I -- I prefer that.

(CROSSTALK)

TRUMP: I view it as possibly expiring immediately.

UNIDENTIFIED MALE: In the first paragraph of the -- in the first paragraph of the Iran memorandum, it says no use of force, but also no threat of the use of force, (INAUDIBLE) bombing Iran if they didn't comply, is that a threat with Iran? Do you see that as ...

TRUMP: If they don't -- if they don't come through, is it a threat that we'd bomb?

UNIDENTIFIED MALE: (INAUDIBLE) ...

TRUMP: You can call whatever you want but it'll probably happen, thank you.

(CROSSTALK)

TRUMP: I will see you at Versailles and you're going to go back and tell the New York Times you're going to change your whole way of life, okay?

UNIDENTIFIED MALE: Do you see the 60 days (INAUDIBLE) deadline for final agreement?

TRUMP: No, I don't. No. It could take longer.

UNIDENTIFIED MALE: So, you could extend?

UNIDENTIFIED MALE: You could extend this (INAUDIBLE) ...

TRUMP: I don't view it as hard, no.

UNIDENTIFIED MALE: You don't think of it as a hard (INAUDIBLE) ...

TRUMP: No, just as long as they're behaving, I really don't care that much.

UNIDENTIFIED FEMALE: Did you talk to leaders about Greenland, sir?

TRUMP: About who?

UNIDENTIFIED FEMALE: Greenland. Did you talk about Greenland?

TRUMP: No, we didn't discuss it there.

UNIDENTIFIED FEMALE: Not at all?

TRUMP: I should discuss it there, but (INAUDIBLE) ...

UNIDENTIFIED MALE: Does Ukraine now have the advantage on the battlefield? What the (INAUDIBLE) ...

TRUMP: Well, they're doing pretty well. Russia's a big country. Big -- you know much bigger military, but they're doing pretty well. They're holding their own. they have great equipment with our equipment don't forget, but they're doing pretty well.

UNIDENTIFIED MALE: Are you going to send (INAUDIBLE) ...

TRUMP: Well, they've paid for it.

UNIDENTIFIED MALE: Yes.

TRUMP: I send it to Europe, Europe pays for it. NATO pays for it. Unlike Biden where he gave three hundred billion dollars' worth of equipment over there.

UNIDENTIFIED MALE: The sanctions on Russia, what are you going to do about that? The sanctions of Russia like the oil (INAUDIBLE) ...

TRUMP: Yes, I may put them back on. Yes. I wanted to make sure that oil stayed as low as well, now that the oil price is way down, what you see are those numbers, but it's way down. I may put it back on, okay? Thank you.

UNIDENTIFIED MALE: Thank you, Mr. President.

UNIDENTIFIED MALE: Thank you, Mr. President.

[15:20:07]

SANCHEZ: We've been listening to President Trump as he arrives in Paris on his way to a dinner at Versailles with President Emmanuel Macron of France. The President there making some notable news on the 60-day time frame for ongoing negotiations with Iran after this memorandum of understanding is signed on Friday. That is when we are anticipating some of the most sticky issues especially as it pertains to Iran's nuclear program to be addressed.

The President they're saying that that 60 days is not a hard deadline saying that he is okay with it as long as they're behaving. Also, notably, asked about ballistic missiles from the outset of this war. Trump and other administration officials have said that ending Iran's ballistic missile program was a priority, especially because of its ability to target allies of the U.S. in the region.

Here President Trump saying -- repeating what he said earlier that it would not be fair for other nations in the region to have those kind of weapons and for Iran not to.

KEILAR: Yes. He said he's probably going to leave troops in the Gulf ...

SANCHEZ: Yes.

KEILAR: ... for a while, so obviously looking for some military leverage there but it'll be interesting -- it is notable in that agreement where it says that it is 60 days for this next phase, but it is extendable if they agree mutually so we could be seeing that extend. And moments ago -- and he talked about this as well -- he was asked about the Fed holding interest rates steady, whatever -- that's what he said, whatever. Okay. So, I think maybe he wasn't surprised, but he's also not thrilled. He would love to see interest rate cuts even when the economic indicators are suggesting that is not the route that the Fed should take.

So, moments ago we saw the new Fed chair Kevin Warsh wrapping up his first news conference as leader of the bank. Last hour, we learned that the board -- head of the Fed had voted to keep its benchmark rate steady despite that pressure from Trump.

SANCHEZ: Yes, during his news conference, Warsh detailed what the Fed's focus will be under his leadership.

(BEGIN VIDEO CLIP)

KEVIN WARSH, FEDERAL RESERVE CHAIRMAN: We recognize that inflation has been running well ahead of the Fed's long-stated inflation goal of 2 percent, that's been going on for more than five years. Persistently high prices are a burden for the American people, but the recent past need not be prologue. I am pleased to report that members of the FOMC are unambiguous and unanimous this committee will deliver price stability.

(END VIDEO CLIP)

SANCHEZ: We're joined now by Aaron Klein he served as deputy assistant secretary for the Treasury Department, also a senior fellow at the Brookings Institution. Aaron, great to see you as always.

It's notable that Trump despite saying whatever about a policy that he doesn't like because he says he believes it keeps the country down said we have a good guy, Warsh, I'm guided by what he wants to do. Very different from what do you say about Jay Powell.

AARON KLEIN, FORMER TREASURY DEPARTMENT DEPUTY SECRETARY: Oh, completely different. Had Powell done the exact same thing, he would have been hammering him.

SANCHEZ: Right.

KLEIN: So, I mean, Trump is just viewing this as he's my guy for now. Keep in mind, Trump picked Jay Powell.

SANCHEZ: Right.

KLEIN: So, at one moment, Jay Powell was Trump's golden boy, now it's Kevin Warsh. But Kevin's stuck between a -- a rock which is the economic fundamentals which are pro inflationary, the Fed acknowledged that in their statement, their projection of inflation rose by over 1 percent just from March and a hard place which is Trump who wants lower rates. Look, the economic fundamentals and the financial markets are saying the next rate movement by the Fed is going to be a hike not a cut. KEILAR: Yes. Well -- and think about what his choice was today or what the Fed's choice was today, right? It was really more of -- like there was never going to be a cut right so it was -- are they going to hold it steady are they going to increase the rates? In the end, holding it steady which certainly the President would prefer over a increase, right?

KLEIN: Sure. Warsh came into a very divided Fed. The last meeting had the most dissent. It was an 8-4 vote in fact when the Fed put out their statement Warsh first cut the statement by about half second the first line of the statement was unanimous 12-0 kind of like I'm delivering a consensus whereas before there was greater division.

So, that -- he's trying to take these first few meetings to gain control and to start to pivot the Fed. What's going to happen in three, six months is the real question and it's unclear at all whether the Fed's not going to have to raise rates because this inflation is just starting to work its way through the system. Even if the price of oil fell on a traded market, it's going to be a while before Americans see real relief at the pump.

SANCHEZ: You -- you mentioned that this report is shorter. He -- he explicitly said that that was one of his aims that new leadership in any institution allows you to sort of look at what's going well which could be adjusted and he made the point that certain things are going to be adjusted including these new five task forces including communications and looking at technology disruption and -- and jobs disruption, obviously a nod to A.I.

[15:25:12]

I -- I wonder what you make of these new task forces, what the aim is here.

KLEIN: So, Warsh promised at one point regime change at the Fed and he has a fair point. The communications may have gotten to be too much. They may have overdone it. The Fed has notoriously gotten most of their economic projections wrong.

Look, a month ago they said inflation was going to be 2.6 percent for the year, now they say 3.7. I mean, you're -- you're off by almost 50 percent of your original forecast in three months. So, Warsh is right to do a total rethink and I applaud him on this. I -- I'm hopeful that he'll come up with a very different system, but I'm a little worried that he's prejudged. He says the committee will deliver price stability. It's almost a totalitarian statement, you will be happy and I don't think he's writing a check that his mouth can cash. The Fed is not all-powerful and cannot always deliver price stability.

KEILAR: Don't we want to know if they're bad predictors? I'm just saying.

SANCHEZ: It's true.

KEILAR: Don't you want to know if ...

KLEIN: So -- so ...

KEILAR: ... their crystal ball is kind of terrible?

KLEIN: So, historically all 19 members anonymously put in their projections for the economy in the future, it's called the dot plot, Wall Street analyzes all these dots (INAUDIBLE) ...

KEILAR: He doesn't have a dot.

KLEIN: He took his dot off the board.

KEILAR: No dot -- dot-less ...

KLEIN: Correct.

KEILAR: Important to note, no dot. Aaron Klein, always with the dot, thank you very much for being with us.

Luigi Mangione planning to argue a psychiatric defense in his upcoming state trial over the murder of -- of United Healthcare CEO, but will it help him avoid life in prison? We're going to break it down with a CNN Legal Analyst next

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