Kevin Hassett, President Donald Trump’s chief economic adviser at the White House, signaled he’s confident that an eventual drop in oil prices will create space for the Federal Reserve to lower interest rates.
The following is the transcript of the interview with Kevin Hassett, director of the White House National Economic Council, that aired on "Face the Nation with Margaret Brennan" on May 24, 2026.
President Trump told leaders of several Arab and other Muslim countries during a Saturday conference call that if a deal to end the Iran war is achieved he wants their nations to sign peace agreements with Israel, per two U.S. officials with direct knowledge of the call. Why it matters: Trump's remarks on Israel and the countries signing onto the Abraham Accords during the call signal the next big step he wants to take in the Middle East after the war. Trump is aiming mostly at a historic Saudi-Israeli peace agreement, but the current political climate in the region and the upcoming Israeli election make any near term breakthrough extremely difficult. Driving the news: On Saturday, Trump held a phone call with the leaders of Saudi Arabia, the United Arab Emirates, Qatar, Pakistan, Turkey, Egypt, Jordan and Bahrain to discuss the emerging deal with Iran.Leaders including UAE President Mohammed bin Zayed, who has had a more hawkish view on the Iran war, said they support it."They all said we are with you on this deal. And if it doesn't work we will be with you too," a U.S. official said.Behind the scenes: A U.S. official with knowledge of the conversation said Trump told the leaders that he would call Israeli Prime Minister Netanyahu next and stressed that he hoped that in the near future Israel's leader would be on the same call.Trump told the leaders that after the war with Iran ends he expects all of them who are still not part of the Abraham Accords or don't have peace agreements with Israel to join and normalize relations with the Jewish state, two U.S. officials said. The leaders, especially those of Saudi Arabia, Qatar, and Pakistan who don't have formal diplomatic relations with Israel, were surprised by Trump's request. "There was silence on the line and Trump joked and asked if they are still there," one of the U.S. officials said. Trump then told the leaders that his envoys Jared Kushner and Steve Witkoff will follow up on this issue in the coming weeks. What they are saying: "I would like to thank, thus far, all of the countries of the Middle East for their support and cooperation, which will be further enhanced and strengthened by their joining the Nations of the historic Abraham Accords," Trump wrote in a post on Truth Social on Sunday. He floated the idea of Iran joining the Abraham Accords one day. It would require Tehran to recognize Israel, something it has refused to do for decades. The current Iranian regime sees Israel as an enemy and is committed to its destruction. Senator Lindsey Graham (R-S.C.) who criticized the emerging deal with Iran and is a leading force in Congress for the expansion of the Abraham Accords wrote on X on Sunday that he supports Trump's request to the Arab and other Muslim leaders. "If in fact as a result of these negotiations to end the Iranian conflict, our Arab and Muslim allies in the region agreed to join the Abraham Accords, it would make this agreement one of the most consequential in the history of the Middle East," he said. Graham called on Saudi Arabia and other countries to adhere to Trump's request. "If you refuse to go down this path as suggested by President Trump, it will have severe repercussions for our future relationships and make this peace proposal unacceptable. Further, it would be seen by history as a major miscalculation," he wrote. Yes, but: Saudi Arabia's Crown Prince Mohammed Bin Salman had expressed willingness to normalize relations with Israel, but over the past year he has cooled down on this issue. Trump asked Bin Salman to join the Abraham Accords during their Oval Office meeting last November. The Saudi crown prince pushed back and the meeting got tense. The Iran war and Saudi Arabia's rift with the UAE have pushed the Kingdom to take a more skeptical and tough position towards Israel's far-right government. Saudi officials still demand that Israel commits to an irreversible and time-bound path for a Palestinian state as a condition for them normalizing relations. The Israeli government refuses this. Israeli and U.S. officials think Riyadh will not take any steps on this issue ahead of Israel's elections planned for September and before it sees which government is sworn in.
Negotiations are "in a very good place," a senior Trump official said, but, a deal to end the Iran war likely will not be signed this weekend.
US Secretary of State Marco Rubio said there may be “some good news” regarding the blocked Strait of Hormuz in the coming hours, as Iran and Washington press ahead with peace negotiations.
Meet the Press Moderator Kristen Welker joins Hallie Jackson on Sunday TODAY to discuss Republicans raising concern over what’s included in President Donald Trump’s potential peace deal with Iran. "Really witnessing an extraordinary week of divisions between the president and his own party, all raising questions for Republicans about his priorities as we get deeper into this midterm election cycle,” Kristen says.
Donald Trump announced a potential deal with Iran Sunday, citing successful negotiations with Middle Eastern nations, and the reaction from hawks, analysts, and even some Trump allies was immediate and withering.Trump posted on Truth Social that he would work out a better deal than Obama had done, but was vague on the details. For many onlookers, the negotiation itself was enough to condemn the development.Former Bush White House press secretary Ari Fleischer was among the first to raise a red flag — and he pointed to recent history. "On April 7, the President announced a double-sided, two-week ceasefire subject to the complete, immediate, and safe opening of the Strait," Fleischer wrote. "Iran didn't comply. They gave their word and didn't keep it. I don't know what's different now. Iran never keeps its word."Conservative Atlantic contributor Tom Nichols was bleaker still. "In other words, the war is over, we're stumbling toward some version of the JCPOA, America is out billions of dollars and lots of weapons that we didn't need to waste, and the United States is now weaker and Iran in a strategically stronger position," he wrote. "And for what?"Geopolitical analyst Brandon Weichert was dismissive of the deal's substance entirely. "Of course there is no deal," he wrote. "We've barely got a patch to get us through Hajj."Conservative commentator Erick Erickson took a more cautious tone, responding to a post suggesting Trump had walked back elements of the deal after public backlash. "I hope this is the case," Erickson wrote, "or at least the President understood the reaction."Perhaps the most incendiary response came from far-right activist Laura Loomer, who offered her own verdict on the prospects for peace in three brutal sentences: "Peace talks going great. No such thing as peace with Muslims. It's very simple."The announcement comes after days of growing unrest within Trump's own coalition over his Iran diplomacy — with former Secretary of State Mike Pompeo, retired General Mike Flynn, and scores of Trump's own Truth Social followers all warning this weekend that the president was being played by a regime that cannot be trusted.
Sen. Thom Tillis (R-N.C.) on Sunday added his voice to other Republicans criticizing an emerging peace deal with Iran, saying he would not support it based on his understanding of what it includes. “It doesn’t make sense to me,” Tillis said of the deal, arguing it was a mistake to leave nuclear material in Iran.…
President Trump on Sunday said negotiations with Iran were proceeding in “an orderly and constructive” manner, and that he had told U.S. officials “not to rush into a deal.” The remarks follow intense criticism of reports on an emerging deal from several conservative Republican senators, including Trump ally and Sen. Lindsey Graham (R-S.C.). It was…