US stocks almost hit record highs amid possible de-escalation in the Middle East, and Johns Hopkins University professor Vali Nasr analyses Iran’s future. Plus, the US Federal Reserve chair signalled no interest cuts this summer, and US states are sending delegates to the EU for advice on green policy.

Mentioned in this podcast:

Israel-Iran latest: JD Vance declares era of new Trump foreign policy doctrine

The war that will remake Iran’s Islamic republic

Iran at the precipice

Jay Powell pushes back on calls for Federal Reserve rate cuts as soon as July

Rachman Review podcast

US states send delegates to EU for advice on green policy

Today’s FT News Briefing was produced by Sonja Hutson, Kasia Broussalian, Fiona Symon, and Marc Filippino. Additional help from Kelly Garry, and Gavin Kallmann. Our acting co-head of audio is Topher Forhecz. Our intern is Michaela Seah. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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Iran's path forward

FT News Briefing