Today in One Sentence. Federal Reserve officials warned that it might need to raise interest rates in inflation remains above its 2% target Trump claimed the U.S. was in the “final stages” of negotiations with Iran “or we’re going to do some things that are a little bit nasty,” while also insisting, “I’m in no hurry” Senate Republicans removed the $1 billion Secret Service provision tied to Trump’s White House ballroom from an immigration enforcement bill after the Senate parliamentarian ruled it was outside the bill’s budget rules police officers who came under attack by Jan. 6 rioters sued to block Trump’s $1.776 billion “Anti-Weaponization Fund” Republicans backed by Trump won or led primaries in Georgia, Alabama, and Kentucky and the Trump administration plans to move ahead with Trump’s 250-foot arch near Arlington National Cemetery without congressional approval, instead relying on a 101-year-old authorization for a different, unbuilt project at the same site.

1/ Federal Reserve officials warned that it might need to raise interest rates in inflation remains above its 2% target. U.S. inflation rose to 3.8% in April – the highest level in nearly three years – driven largely by energy prices increasing due to the Iran war. Since last year, energy prices are up nearly 18%. Trump, meanwhile, said incoming Federal Reserve Chair Kevin Warsh can “do what he wants to do” after repeatedly pressuring Jerome Powell to lower interest rates. Futures markets now put 60% odds on at least one hike by year-end. (New York Times / Reuters / Axios /Bloomberg / Wall Street Journal)

2/ Trump claimed the U.S. was in the “final stages” of negotiations with Iran “or we’re going to do some things that are a little bit nasty,” while also insisting, “I’m in no hurry.” Tehran, meanwhile, warned that it would retaliate beyond the Middle East if the U.S. or Israel renews strikes. “We’ll see what happens,” Trump said, adding that the U.S. could wait “a few days” for the “right answers.” The U.S. is demanding that Iran give up nuclear enrichment and reopen the Strait of Hormuz, while Tehran is demanding sanctions relief, control over Hormuz traffic, and an end to the U.S. blockade of its ports. (Bloomberg / New York Times / CNBC / Reuters / Wall Street Journal / ABC News / NBC News)

3/ Senate Republicans removed the $1 billion Secret Service provision tied to Trump’s White House ballroom from an immigration enforcement bill after the Senate parliamentarian ruled it was outside the bill’s budget rules. Republican leaders also concluded they lacked the votes. The draft text had explicitly named the East Wing Modernization Project and allowed for the money to fund “above-ground and below-ground security features,” despite Trump claiming that donors, not taxpayers, were paying for the ballroom. While the White House told senators that only $220 million could go toward the ballroom and broader White House “hardening,” several Republicans objected to using an immigration bill to advance the project. Meanwhile, Trump demanded that Republicans fire Parliamentarian Elizabeth MacDonough, falsely claiming Obama helped appoint her and warning them to “get smart and tough.” Senate Majority Leader John Thune, however, declined, saying “most of the issues we have here are votes,” while Sen. John Kennedy said plainly: “The votes aren’t there.” (Politico / Washington Post)

4/ Police officers who came under attack by Jan. 6 rioters sued to block Trump’s $1.776 billion “Anti-Weaponization Fund,” arguing the Justice Department used Trump’s IRS tax-leak settlement to create an unauthorized payout system for people claiming “weaponization” and “lawfare.” The officers called it a “slush fund” and that payments to riot participants would violate the 14th Amendment’s ban on funding obligations “incurred in aid of insurrection.” The money would come from the federal Judgment Fund and be distributed by a five-member commission appointed by the attorney general. (Politico / CNBC / Bloomberg / NBC News / New York Times / ABC News / Washington Post / Associated Press / Wall Street Journal)

5/ Republicans backed by Trump won or led primaries in Georgia, Alabama, and Kentucky, extending his control over Republicans even as his overall approval rating has slipped into the mid-30s. In Kentucky, Trump-backed Ed Gallrein defeated Rep. Thomas Massie, one of Trump’s most outspoken Republican critics in Congress. More than $32 million in ad spending was spent on the race – the most expensive House primary ever. Trump also helped Rep. Andy Barr win the Republican nomination for Mitch McConnell’s Senate seat. And in Georgia, Trump-endorsed Lt. Gov. Burt Jones advanced to a June 16 runoff for governor against billionaire Rick Jackson, while Secretary of State Brad Raffensperger failed to advance. In 2020, Raffensperger refused Trump’s demand to “find” enough votes to flip the state in his favor. (NPR / New York Times / Associated Press / Politico / Washington Post / ABC News / Reuters / CNN / NBC News)

6/ The Trump administration plans to move ahead with Trump’s 250-foot arch near Arlington National Cemetery without congressional approval, instead relying on a 101-year-old authorization for a different, unbuilt project at the same site. Even though federal law requires congressional approval for monuments on protected land, the Justice Department argued that Congress already approved the project when it ratified a bridge commission report in 1925 calling for 166-foot columns for a different project. (Washington Post)

The 2026 midterms are in 167 days; the 2028 presidential election is in 902 days.