Trump says US interest rates should be at least two to three points lower
June 24 (Reuters) - U.S. President Donald Trump on Tuesday said interest rates should be at least two to three points lower and the U.S. Federal Reserve could increase them later if things turned negative.
"We should be at least two to three points lower. If things later change to the negative, increase the Rate," he said in a post on Truth Social.
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Western Telegraph
11 minutes ago
- Western Telegraph
Middle East ceasefire on the brink as Israel orders retaliation for Iran strike
Both Middle Eastern countries had agreed to lay down arms, following a proposal by US President Donald Trump. But on Tuesday morning, only hours after Israel agreed to the ceasefire, its defence minister Israel Katz claimed Iran had 'completely violated' the agreement by launching missile strikes after it came into effect. The defence minister instructed Israeli forces to resume targeting Iranian paramilitary and government targets. The UK had earlier welcomed the cessation in the fighting, but Cabinet Office minister Pat McFadden cautiously told BBC Breakfast it was 'good news, if the ceasefire holds'. He added: 'It's obviously a fragile situation in the Middle East. 'A number of people have been killed overnight in missile strikes, but I think the whole world will hope that the ceasefire will hold and that Iran will come forward with a credible plan that shows that it will not pursue the development of a nuclear weapon.' Israel had agreed to the ceasefire early on Tuesday morning, with the country's prime minister Benjamin Netanyahu reasoning it had achieved all its goals in its 12-day war against Iran, including removing the threat of its nuclear programme. 'Israel will respond forcefully to any violation of the ceasefire,' the Israeli prime minister warned. Iran's foreign minister Abbas Araghchi had earlier posted on social media site X there was 'NO 'agreement' on any ceasefire or cessation of military operations'. But he said Iran had 'no intention' of continuing attacks if Israel stopped its 'illegal aggression against the Iranian people' by 4am Tehran time (2am BST), around a quarter of an hour before his post. As Iran has repeatedly made clear: Israel launched war on Iran, not the other way around. As of now, there is NO "agreement" on any ceasefire or cessation of military operations. However, provided that the Israeli regime stops its illegal aggression against the Iranian people no… — Seyed Abbas Araghchi (@araghchi) June 24, 2025 Mr Trump first claimed an agreement had been reached overnight, but both Israel and Iran were initially silent. Writing on his social media site Truth Social, Mr Trump announced the 'complete and total ceasefire' to be brought in over 24 hours, saying the two countries had approached him 'almost simultaneously'. He said the ceasefire would be phased in, giving the two countries six hours to have 'wound down and completed their in progress, final missions'. It followed an onslaught of missiles targeting Israel early on Tuesday, which killed at least four people. Israel in turn launched a blitz of airstrikes targeting sites across Iran before dawn. Sir Keir Starmer will arrive at the Nato summit in the Netherlands on Tuesday, where the fragile situation in the Middle East is likely to dominate leaders' conversations. The UK started evacuating Britons from Israel on Monday, with the first group of 63 flown back via Cyprus. Downing Street said 'around 1,000' people had requested a seat on an evacuation flight – a quarter of the 4,000 who had registered their presence in Israel or Palestine with the Foreign Office. US President Donald Trump announced the ceasefire on his Truth Social platform (Carlos Barria/Pool via AP) Shadow foreign secretary Dame Priti Patel told Sky News that the Conservatives felt America's intervention in the conflict was 'absolutely essential and necessary' to degrade Iran's nuclear capabilities. But the frontbench Tory hit out at the Government for a lack of clarity on its support for the US and Israel. She said: 'The Government has not been able to say – I was in Parliament yesterday – whether or not they supported this action or took a view on this action. 'I think the British people need clarity, they need to know whether or not their own government, the government of the day, backed the action.'
Daily Mail
13 minutes ago
- Daily Mail
Keir Starmer heads for crucial Nato summit TODAY vowing to hit new target for spending 3.5% of GDP on defence... but ministers refuse to say where the extra £30BILLION is coming from
Keir Starmer is heading for a crucial Nato summit today vowing to hit a new target for defence budgets. The PM will join fellow leaders from the military alliance in The Hague after signing up to the goal of spending 3.5 per cent of GDP on defence. Another 1.5 per cent will be committed to related measures such as cyber security, under the package demanded by Donald Trump. However, ministers have refused to say where the UK will find the extra money - around £30billion on top of existing plans - with Rachel Reeves already scrambling to balance the books. There are also claims that the figures are being fiddled and countries are watering down the pledges. A draft communique appears to have pushed back the timetable for hitting the level from 2032 to 2035. The language has also reportedly been watered down from 'we commit' to 'allies commit', with Spain flatly dismissing the idea of meeting the goal. Mr Trump himself has said America is not bound by it. 'We've been supporting NATO so long… So I don't think we should, but I think that the NATO countries should, absolutely,' he said on Friday. By contrast, Germany has said it will accelerate its spending to hit the core defence target by 2029 – six years early – amid growing global instability and the prospect of a war in the Middle East. That involves Berlin finding upwards of $60billion a year more for the military. The summit comes after Sir Keir's meeting yesterday with Volodymyr Zelensky at No10. The Ukrainian president will also be at the summit. The increase to 3.5 per cent in Italy would be equivalent to around $46billion a year, Canada $45billion, France £44billion and the UK roughly $40billion. Spain allocated just 1.24 per cent of GDP on defence in 2024. That could have left it facing funding a $36billion boost despite having a relatively small economy. But left-wing PM Pedro Sanchez said on Sunday that it was only looking to hit 2.1 per cent of GDP. 'We fully respect the legitimate desire of other countries to increase their defence investment, but we are not going to do so,' he said in a TV address. The cash cost of the goal for each country have been estimated by comparing the Nato figures for spending levels in 2024 to World Bank figures for the size of GDP. The current target is 2 per cent, which has not been met by all states. Only Poland currently tops the 3.5 per cent level. The US itself spent 3.38 per cent on defence in 2024, although the sheer size of its economy meant that dwarfed contributions from the rest of the alliance. Britain allocated 2.33 per cent of GDP to defence last year, and Keir Starmer has committed to reaching 2.5 per cent by April 2027. There is an 'ambition' of increasing that to 3 per cent at some stage in the next parliament - likely to run to 2034. Nato members effectively decide themselves whether they're hitting the 1.5 per cent element of the target, and there are fears Labour will try to include items not strictly related to defence. Downing Street sources said, for example, that it could include spending on beefing up energy security amid the switch to NetZero and fighting migrant-smuggling gangs. Former defence secretary Sir Ben Wallace posted on X: 'Tomorrow at the Nato summit we will witness the UK Government trying to con the US and Nato with spin on defence spending. 'By folding in other departments' spending and with no real defence £ increases, the PM will claim 5 per cent. 'The threat to our country is real not spin. This Government thinks it can use smoke and mirrors to deceive the public and Donald Trump. 'This is an insult to our troops who will see no significant new money. It fools no one.'
Daily Record
13 minutes ago
- Daily Record
Israel 'ceasefire broken' as Iran accused of launching more missile attacks
Defence Minister Israel Katz said in a statement Iran violated the ceasefire and promised 'intense strikes' against Tehran in response. Israel has accused Iran of violating the ceasefire in the Middle East after more missile attacks as they vow to respond "forcefully". Defence Minister Israel Katz said in a statement Iran had violated the ceasefire and has promised"intense strikes" against Tehran in response. As the Mirror reports, Iran reportedly launched missiles towards Israel, according to the country's military. The Israeli military said it verified missiles were launched from Iran. However Iran is yet to confirm an attack against Israel. Israel's armed forces say they are working to "intercept the threat" and urging civilians to head for bomb shelters under further notice. It comes after a ceasefire appeared to have been brokered between Iran, the US and Israel that went into effect at 8am today. Donald Trump sent a stringent warning to both countries "do not violate" the "total ceasefire" he and Iranian state TV said was in place in the Middle East. The US President posted on Truth Social this morning: "THE CEASEFIRE IS NOW IN EFFECT. PLEASE DO NOT VIOLATE IT! DONALD J. TRUMP, PRESIDENT OF THE UNITED STATES!" The message came after a post last night's on the social media site praised Iran and Israel's great"stamina, courage and intelligence." President Trump earlier branded the conflict"THE 12 DAY WAR", before sharing news of the breakthrough.. He wrote: 'On the assumption that everything works as it should, which it will, I would like to congratulate both Countries, Israel and Iran, on having the Stamina, Courage, and Intelligence to end, what should be called, 'THE 12 DAY WAR'." 'This is a War that could have gone on for years, and destroyed the entire Middle East, but it didn't, and never will! God bless Israel, God bless Iran, God bless the Middle East, God bless the United States of America, and GOD BLESS THE WORLD!' Join the Daily Record WhatsApp community! Get the latest news sent straight to your messages by joining our WhatsApp community today. You'll receive daily updates on breaking news as well as the top headlines across Scotland. No one will be able to see who is signed up and no one can send messages except the Daily Record team. All you have to do is click here if you're on mobile, select 'Join Community' and you're in! If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'exit group'. If you're curious, you can read our Privacy Notice. Yet, despite Mr Trump's insistence the ceasefire had been reached, Iran continued to fire missiles at Israel last night. Israelis were spotted fleeing to shelters amid the ongoing threat Iranian missiles. Photos show people sheltering in place inside bunkers overnight before the ceasefire came into effect. Israelis have raced to shelters amid the ongoing threat from Iranian missiles. Photos show people sheltering in place inside bunkers overnight before the ceasefire came into effect. Meanwhile Iraqi officials have denounced"cowardly" drone attacks at several military bases in the county. Iraqi officials have denounced "cowardly" drone attacks at several military bases in the country. While they did not state who had carried out the attack, Iran has previously targeted military sites in the country. A statement from the country's special forces read in part: "In a treacherous and cowardly attack, from 0215 to 0345 today, Tuesday, corresponding to 24 June 2025, a group of small suicide drones targeted several Iraqi military sites and bases. "This attack caused significant damage to the radar systems at Taji Camp north of Baghdad and Imam Ali (peace be upon him) Base in Dhi Qar Governorate, with no human casualties reported. "Iraqi forces successfully countered and thwarted all other attack attempts on four different sites, neutralizing and shooting down the drones that were aimed at targeting these locations."
