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Iran and the regional standoff
On Iran and the wider regional standoff
U.S. officials say talks with Iran are making only slight progress, with the uranium program and the future of traffic through the Strait of Hormuz still unresolved. Rubio said negotiations are moving forward, while Tehran and Western governments keep trading warnings. So far, that’s diplomacy with a lot of friction and not much closure.
Separately, U.S. intelligence says Iran is rebuilding its drone, missile, and launch capacity faster than expected, with some officials estimating a full drone replenishment in about six months. Analysts say that could push Tehran to lean more heavily on drones if its missile stockpile stays limited.
In Canada
Alberta Premier Danielle Smith has announced a referendum on whether the province should hold a vote on leaving Canada, a move that has put secession back into the national conversation. Prime Minister Mark Carney says Alberta remains essential to the country, which is the sort of reassurance governments issue when they are trying to keep the floor from moving under them.
In U.S. politics and institutions
Tulsi Gabbard has resigned as director of national intelligence after her husband was diagnosed with a rare bone cancer. The announcement makes this a personal rather than political exit, and the distinction matters.
Kevin Warsh was sworn in as chair of the Federal Reserve on Friday and said he plans to lead a reform-oriented Fed. Markets will now get to learn what “reform-oriented” means in central-banking language, which is usually less colorful than advertised.
In jobs and travel
New college graduates are entering a weak hiring market, with employers pulling back on first-job hiring and fresh anxiety that AI could replace some of the skills they were trained to use. A New York Fed report puts unemployment for bachelor’s degree holders ages 22 to 27 at 5.6% in March, up from 3.6% in late 2019.
And Waymo has paused driverless car service in Atlanta and Texas ahead of severe storms, after one of its vehicles was stranded by flooding. The broader travel outlook for the holiday weekend is looking rough, which is not a great advertisement for robot taxis or weather.
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