00:01The U.S. and Iran don't wait till Friday.
00:04The deal is signed.
00:05The fighting stops and the clock starts on 60 days of nuclear talks.
00:09Plus, the Fed hits pause on interest rates.
00:13What the new chairman is signaling about inflation and what comes next.
00:17And tropical storm Arthur keeps moving east.
00:19The flood threat now stretches across the Gulf Coast.
00:25The stories that matter, clear and credible,
00:28from across the country to around the world.
00:31These are your unbiased updates from Straight Arrow.
00:36Good morning, I'm Craig DiGrelli.
00:38The fighting may be over, at least for now.
00:41The United States and Iran have officially signed a peace agreement,
00:45starting a 60-day push to reach a final deal on Iran's nuclear program.
00:50This was not easy.
00:52I can tell you.
00:54The agreement took effect immediately after President Trump signed it.
00:58Under the deal, Iran agrees to address its enriched uranium stockpile in future talks,
01:03while the U.S. moves toward lifting sanctions and allowing Iranian oil exports to resume.
01:08Critics argue the agreement gives Tehran too much leverage,
01:12going into the next round of negotiations.
01:14Trump defended the deal, saying it prevents a broader economic shock.
01:18So the one thing I didn't want to see is, I didn't want to see economic catastrophe.
01:24If you kept this going, that could have happened.
01:26But all I know is, every time we talked about the possibility of peace,
01:30the stock market shot up like a rocket ship.
01:33It never went down.
01:35They didn't like it.
01:36The people, you know, the stock market is more brilliant than anybody there is,
01:40including the people on this stage, other than me, of course.
01:44Iran's president also signed the agreement,
01:47which the two sides were originally expected to formalize in Switzerland on Friday.
01:51Trump also warned that if Iran violates the deal, the U.S. would respond forcefully.
01:57Pakistan, which helped mediate the agreement, also signed the document.
02:01Markets responded positively to the news.
02:04Oil prices have fallen sharply from their wartime peaks,
02:07and the national average for the price of a gallon of gasoline has dropped below $4 a gallon
02:12for the first time since March.
02:14President Trump's pick to lead the Federal Reserve, Kevin Walsh,
02:18is leaving interest rates unchanged for now.
02:21In his first policy decision as Fed chair,
02:24Walsh announced that interest rates will remain in the current range of 3.5 to 3.75 percent.
02:31Despite inflation remaining above the Fed's 2 percent target,
02:34Walsh said high prices have been a problem for years
02:37and insisted the central bank is focused on bringing them under control.
02:42We recognize that inflation has been running well ahead
02:46of the Fed's long-stated inflation goal of 2 percent.
02:50That's been going on for more than five years.
02:55Persistently high prices are a burden for the American people.
03:00But the recent past need not be prologue.
03:03Walsh also pledged that the Fed would deliver price stability.
03:07At the same time, nearly half of the Fed officials who help set interest rate policy say
03:13they could support a rate hike before the end of the year.
03:16Walsh also announced a series of internal reviews looking at how the Fed communicates,
03:21the data it relies on, and the economic forecasts it releases,
03:25while breaking with tradition by not issuing its own quarterly projection.
03:30Hurricane season is officially underway.
03:32And while Tropical Storm Arthur has weakened after moving onshore along the Gulf Coast,
03:38forecasters say the flood threat is far from over.
03:41Arthur is now a low-pressure system, but still potent,
03:44dumping up to 20 inches of rain in parts of Texas and triggering flooding.
03:48The system is tracking east, with forecasters warning of flash flooding from Louisiana to Alabama.
03:54The heaviest rain is expected around the Mobile area.
03:57Emergency managers are also watching how quickly the system moves.
04:02If it slows down or stalls, some communities could see hours of torrential rainfall.
04:07Parts of Georgia and the Florida Panhandle might also see impacts,
04:11while coastal areas face the risk of storm surge, high tides, and gusty winds.
04:16A massive fire in Los Angeles sent a thick column of black smoke into the sky
04:22and forced people in surrounding neighborhoods to shelter in place.
04:26Look at this.
04:27Firefighters spent hours battling the inferno at a huge cold storage warehouse
04:32in the Boyle Heights area Wednesday afternoon.
04:35The fire started on the roof of the building, which is covered with solar panels.
04:40But crews also discovered an ammonia leak inside the facility,
04:43forcing firefighters to pull back as the fire grew.
04:47With flames spreading across the massive roof,
04:50fire officials called in helicopters to drop thousands of gallons of water from the air,
04:55something rarely seen in a structure fire.
04:58Nearby residents were told to stay inside, close their windows,
05:01and shut off air conditioning as thick smoke drifted across parts of East Los Angeles.
05:06Authorities eventually lifted the shelter-in-place order.
05:09No injuries reported.
05:11Fire crews are remaining on the scene through the morning
05:13as they monitor hotspots and investigate what sparked the fire.
05:18A pretty remarkable political reversal out of Oklahoma this morning.
05:22Just weeks after President Trump called Jackson Lawmire a MAGA warrior
05:27and gave him his full endorsement,
05:29the president has now pulled his support,
05:32and Lawmire has dropped out of the race altogether.
05:35Lawmire is a Tulsa megachurch pastor and founder of Pastors for Trump.
05:40He advanced to a Republican runoff for Oklahoma's open first congressional district seat on Tuesday,
05:45but his campaign was rocked over the weekend
05:48after the Daily Mail published text messages
05:51between Lawmire and a woman who is not his wife.
05:54The messages included flirtatious exchanges and an invitation to his hotel room.
06:00Lawmire acknowledged what he called crossing a boundary line through text messaging,
06:04but said the communications were taken out of context.
06:07Then came Wednesday.
06:09Trump announced he was switching his endorsement to Oklahoma State Representative Mark Tedford,
06:14writing that Tedford is, quote,
06:18Minutes later, Lawmire suspended his campaign,
06:21saying he did not want to be a distraction to his family, his church, or voters in the district.
06:26With Lawmire out, Tedford now has a clear path to the Republican nomination
06:30in a district that leans heavily Republican.
06:32The Federal Trade Commission is suing the leading Transgender Health Care Association,
06:38accusing it of misleading parents about treatments for minors.
06:42The FTC says the World Professional Association for Transgender Health,
06:47known as WPATH,
06:49made deceptive claims about gender-related medical care for children and teens.
06:53The lawsuit accuses the group of downplaying risks,
06:57failing to fully disclose potential side effects,
06:59and including what the FTC calls false or unsubstantiated claims
07:03about the safety and effectiveness of certain treatments in its guidelines.
07:08The complaint also alleges WPATH classified nearly all medical transition services
07:13as medically necessary to improve the chances that insurance companies would cover them.
07:18Alaska, Iowa, Nebraska, and Texas joined the case.
07:21WPATH called the lawsuit baseless and said the FTC is not a medical provider
07:26and has no place interfering with individualized medical decision-making.
07:31Later today in Chicago, a project nearly a decade in the making officially opens its doors.
07:37The Obama Presidential Center will be dedicated on Chicago's South Side,
07:42the city where Barack and Michelle Obama built their careers,
07:45raised their family, and launched a political movement
07:48that would eventually reach the White House.
07:50The $850 million campus includes a museum, library, community spaces,
07:56and exhibits focused on both the presidency and the people behind it.
08:01One of the biggest attractions is a full-scale replica of the Oval Office,
08:05complete with a copy of the Resolute Desk,
08:07where visitors can walk in, take a seat, and get a feel for the room
08:11where presidential decisions are made.
08:14Many presidential libraries and institutions have some of these iconic features.
08:19There are some that have the replica of the limousine or Air Force One,
08:24but President Obama chose the Oval Office.
08:27If you remember, the White House was designed to be the people's house,
08:32and President Obama opened the White House to more people in our history than ever before.
08:38There's also a look at life inside the Obama White House,
08:41including several of Michelle Obama's most recognizable outfits from her years as First Lady.
08:47The couple spoke to ABC News this week about the opening and their legacy.
08:53The thing that we were good at and allowed me to sleep at night and get up and go back
09:01at it
09:03was I always felt that when we made decisions,
09:07we were making decisions with the American people in mind.
09:12Obama says he wanted the center to be more than a presidential library,
09:16calling it a place that encourages people to get involved in their communities and public life.
09:21A dedication ceremony is set for this afternoon featuring the Obamas,
09:25dignitaries, and a lineup of performers, including Stevie Wonder, Bruce Springsteen,
09:30John Legend, and Jennifer Hudson.
09:32Before we head out, here's what we're tracking today.
09:34First up, we'll get a fresh read on the labor market
09:36when the weekly jobless claims report comes out at 8.30 Eastern.
09:40Then in New York, the Knicks take a victory lap.
09:43The newly crowned NBA champs will parade through Manhattan before receiving keys to the city.
09:49At noon, Freddie Mac releases its weekly mortgage rate report,
09:52a keys snapshot for buyers watching borrowing costs.
09:56At that same hour, in Chicago, the Obama Presidential Center will officially be dedicated.
10:02Unbiased Updates is the fastest, fairest few minutes in news.
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10:11We thank you for making us part of your morning routine.
10:14Those are your Unbiased Updates for this Thursday.
10:16We'll see you back here tomorrow, Friday.
10:18We love that, of course.
10:19For all of us here at Straight Arrow, I'm Craig DeGrelli.
10:21Have a great day.
10:22I'm Craig DeGrelli.
10:24I'm Craig DeGrelli.
10:25I'm Craig DeGrelli.
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