Point of View: The Federal Reserve Has Over-Eased, with a 65% Chance of Stagflation in the United States

WASHINGTON, June 20 (AP) — President Donald Trump’s approval rating stands at 37% in the latest AP-NORC poll, holding steady from the prior month and showing no meaningful shift following the U.S. and Iran’s preliminary agreement to end their war. The survey, conducted June 11 to 17 among roughly 3,040 U.S. adults, has a margin of error of ±2.8%. Trump’s approval rating for his handling of the Iran conflict also remains stable, staying at 34%. Still, 53% of respondents say the U.S. has been “too aggressive” in its military actions toward Iran. That figure is 6 percentage points lower than in March, though it still represents a clear majority of those polled. Even with the preliminary ceasefire between the two nations and short-term economic relief including falling oil prices, the public retains significant skepticism about the conflict’s stated objectives and the effectiveness of related policies, the poll finds. Since the U.S. military launched actions against Iran in Feb

**June 20, 2026** In the first quarter of 2026, total global space launch mass hit roughly 647,000 kilograms, representing an 18% year-over-year increase. SpaceX led all operators with 556,000 kilograms—more than 13 times the amount of the second-place competitor—cementing its status as the source of around 86% of the world’s total launch capacity. Elon Musk commented on the milestone, stating: “Once Starship achieves a per-hour launch cadence, SpaceX’s orbital mass delivery will be approximately 100 times that of all other operators combined, even if those operators triple their current launch frequency.” While Starship hasn’t yet entered high-frequency commercial operation, SpaceX already holds overwhelming dominance via its Falcon rocket series. Analysts point out that once Starship is fully operational at scale, the global space landscape will undergo a historic transformation.

**June 20 (New York) — Per a *New York Times* report, the preliminary U.S.-Iran agreement has hit significant roadblocks in its early stages, with critical details still unresolved — including whether the Strait of Hormuz will remain open to free navigation and other core terms.** Less than a week after the agreement was announced, it’s already sparking sharp disagreements: planned signing or negotiation sessions in Switzerland were scrapped, U.S. Vice President JD Vance’s trip to the country was abruptly canceled, and further talks have been pushed back indefinitely. The Swiss Foreign Ministry noted that preparations for the planned negotiations are still underway, but the process is currently suspended with no timeline for resumption. The pact itself also faces major uncertainties. The U.S. and Iran hold conflicting interpretations of its terms: the U.S. claims the deal includes concrete commitments, while Iran has not formally confirmed those details. Key issues — including ar

June 20 — Several U.S. intelligence agencies have issued a warning to the Trump administration that Israeli Prime Minister Benjamin Netanyahu may take actions to undermine President Donald Trump’s efforts to broker a long-term peace agreement with Iran, according to The Washington Post, which cited multiple current and former U.S. officials. Netanyahu is facing intense domestic political pressure and has been forced to continue military operations in Lebanon. A U.S. official who reviewed the intelligence report told The Post that the latest U.S. intelligence assessment concludes: ahead of Israel’s fall general election this year, Netanyahu’s ability to retain the prime minister’s post depends on convincing his constituents that he will not withdraw from Lebanon and is determined to escalate tensions with Hezbollah. The U.S. intelligence report also notes that Israel is deeply dissatisfied with the terms of Trump’s proposed peace reconciliation memorandum, which it claims undermin

June 19 — As the global AI industry continues to boom, South Korea’s tech sector has been drawing steady cross-border capital inflows thanks to its unique attributes. Against this backdrop, fund companies are rolling out a range of South Korea-themed exchange-traded funds (ETFs) while active equity QDII products have gradually increased their South Korean holdings. Industry insiders point out that South Korean stocks currently trade at lower valuations than U.S. equities. Coupled with long-term tailwinds from the global AI sector, there remains upside for market valuation recovery. However, amid recent speculative trading in South Korea-themed ETFs, some fund firms have also started to alert investors to related risks.

June 19 – The Washington Post reports that vessel traffic through the Strait of Hormuz, a critical global energy transit chokepoint, is gradually returning to normal. This shift follows a preliminary agreement between the U.S. and Iran and the lifting of all restrictions on the key maritime passage. Earlier tensions had left some shipping vessels stranded in the Persian Gulf since February. Now that tensions have eased, those vessels are cautiously transiting the Strait of Hormuz again. The resumption of navigation here is widely seen as a significant sign of regional de-escalation.