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The Story Is with Elex Michaelson

Trump And Iran's President Sign Initial Deal Aiming To End War; Trump Stalls Confirmation Process Of His Own National Intelligence Nominee; Georgia Won't Immediately Pursue Redistricting; Obama Presidential Center Set For Grand Opening Ceremony; New York City Prepares For Massive Knicks Celebration Parade; Tropical Storm Arthur Downgrades To A Post-Tropical Cyclone; New York Prepares for Knicks Victory Celebration; Fed Holds Rates Steady, Signals Higher Rates Ahead; SpaceX Overtakes Amazon in Market Value; Mother of Cape Verde Keeper to Get Visa Ahead of Miami Match. Aired 1-2a ET

Aired June 18, 2026 - 01:00   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[01:00:00]

VICTOR BLACKWELL, CNN ANCHOR: In for Elex Michaelson, the story is memorandum of understanding sign. Did Donald Trump get Iran's total surrender or is the agreement a concession from the US. Reactions from Washington to Beijing.

The story is New York City celebrates the Knicks. Mayor Mamdani talks about what tomorrow's parade means to the city and my guest Chris Dudley, former Knicks player, on what it means to the team.

And the story is the Obama Presidential Center. The official grand opening ceremony kicks off in Chicago in just a few hours.

We start though with the U.S.-Iran agreement to end the war and reopen the Strait of Hormuz. President Donald Trump is on his way back from the G7 summit in France.

He signed a hard copy of the agreement in Versailles. Iran's president has also signed a hard copy of the plan. This 14-point memorandum of understanding aims to end the war on all fronts, including in Lebanon where Israel has continued to strike. It will also get traffic flowing through the Strait of Hormuz, they hope, and lift the U.S. naval blockade of Iranian ports.

But it leaves a lot of details for the 60-day negotiating period, including the future of Iran's nuclear program. Here's what Iranian officials and President Trump are saying about the plan.

(BEGIN VIDEO CLIP)

DONALD TRUMP, U.S. PRESIDENT: Iran cannot have a nuclear weapon. They can't develop it by it. They can never have a nuclear weapon.

ESMAIL BAGHAEL, SPOKESPERSON, IRANIAN FOREIGN MINISTRY (through translator): Iran-U.S. Memorandum of Understanding is now officially complete and finalized in the 60 days. The other party should not increase military presence in region or issue new sanctions.

(END VIDEO CLIP)

BLACKWELL: Leaders are welcoming the agreement, but some U.S. lawmakers and military experts are criticizing it.

(BEGIN VIDEO CLIP)

SEN. CHUCK SCHUMER (D-NY): This will be regarded as one of the biggest American disasters and it's because Trump started this war. He didn't know how to finish it. And it looks like in too many ways he has just come capitulated to the Iranians.

SEN. ADAM SCHIFF (D-CA): While Americans have been suffering higher gas prices and a high cost of living, the President is now blessing $300 billion for reconstruction fund for Iran. It seems unthinkable.

SEN. BILL CASSIDY (R-LA): It's going to leave Iran stronger, it's going to leave our allies weaker and it may commit U.S. taxpayer dollars.

GEN. JACK KEANE (RET.) WABC RADIO, "THE CATS AND COSBY SHOW": We're a long way from accomplishing the objectives that the President wants to accomplish here with the Iranians.

(END VIDEO CLIP)

BLACKWELL: President Trump said on Wednesday that continuing the war with Iran might have had severe financial repercussions. He said that he did not want to see economic catastrophe. CNN's Nic Robertson looks at Iran's economic leverage during the war.

(BEGIN VIDEOTAPE)

NIC ROBERTSON, CNN INTERNATIONAL DIPLOMATIC EDITOR: Iran is actually carrying a very big stick. It's called the Strait of Hormuz and they've learned that it worked very well. Most experts in the region knew before President Trump began bombing that if he did that Iran would immediately go to cut off the Strait of Hormuz because they saw that as an economic pressure point on President Trump. They knew that he could not stand the domestic political pressure.

And when he took to the podium today, he sort of wore that almost as a badge of honor. That's not something that's going to put the United States in good standing as a sort of a geopolitical power player in the way that it was perhaps three months ago in the region.

And there certainly will be those in the United States and many allies in the Gulf who are going to recognize that this president has now, if you will, had to give up so much to get back to the status quo. And it's not clear it's the status quo, because if President Trump can bomb again, although, you know, one of the paragraphs in the MoU says that both countries should respect each other's territorial integrity and sovereignty and the United States should pull its, you know, pull its navies back from close to Iran. Iran can also go back and close the Strait of Hormuz. So what has happened here is the very beginning. It's the beginning of the second phase of negotiations which have yet to work their way through. We've yet to see how that goes. One shouldn't prejudge that. But it has really signaled to the United States allies in the region that the U.S. security umbrella doesn't work. Iran has an answer for it, a stick. And that President Trump is vulnerable to economic influences back home. And that puts him in a weak position in the eyes of Iran. And his allies now know that.

(END VIDEOTAPE)

BLACKWELL: President Trump says the U.S. has now sent a copy of the Iran agreement to Israel. At the G7 summit, he called Israel a good partner and he said that he supports their right to protect themselves. But when it comes to Israel's military actions against Hezbollah in Lebanon, the president said that they could do better.

Iran's parliamentary speaker says Lebanon was one of the main topics tied to negotiations with the U.S. and that discussions focused on Lebanon affected the pace and direction of the talks.

[01:05:03]

Lawmakers on Capitol Hill say that they have no idea when they might hear from President Trump's pick to be the next Director of National Intelligence. The president abruptly canceled a hearing for Jay Clayton on Wednesday. He's also insisting that he won't sign a must pass national security bill unless Congress passes his voter ID bill, the Save America Act.

Bill Pulte will take over as acting DNI on Friday. His appointment has been mired in controversy over his lack of intelligence, experience and his record as a Trump attack dog.

(BEGIN VIDEO CLIP)

TRUMP: And this was like a rush act and it was a rush act by the Democrats. All of a sudden they want to get and why are they afraid of this guy? I mean, they're so afraid of him, they'll do anything not to have Pulte go in there. He's a very capable guy and they're worried about that.

(END VIDEO CLIP)

BLACKWELL: President Trump posted about the Save America Act on Wednesday. It will require everyone to show voter ID to vote and provide proof of citizenship to register. It would ban most mail-in ballots. Lawmakers say they don't understand -- do not understand the president's strategy.

(BEGIN VIDEO CLIP)

SEN. MARK WARNER (D-VA): So it felt like, you know, Clayton had a path forward. Middle of the night, he pulls him totally against the wishes of the Republican Senate leadership, against the wishes of rational people inside the Trump White House because he wants this guy Pulte, I guess, to get exposed to our country's national secrets and then to make this even more complicated and why I'm sure your viewers are saying this is all wacky and it is.

Trump says, well, before we continue this critical national security tool, I also want the so called Save Act, which is a voter disenfranchisement bill, which a number of Republicans don't support. There's not even 51 of them that support it.

So the idea that Trump is saying, I'm not going to protect America's national security unless you both give me somebody unqualified and allow a bill to pass that has no future of passage. And we're now at a point where everybody is scratching their head.

(END VIDEO CLIP)

BLACKWELL: Republican leaders here in Georgia say that they will not redraw the state's voting maps, at least for now. That defies calls from both Georgia's governor and President Trump for redistricting. But the prospect drew crowds at the State Capitol of protesters, even some elected officials.

(BEGIN VIDEO CLIP)

UNIDENTIFIED FEMALE: We the people choose who represents us.

SEN. RAPHAEL WARNOCK (D-GA): This is Georgia. We know our history. You all are barking up the wrong tree and now you're trying to rob Georgians of their voice and of their vote. Come November, we intend to hold you accountable.

(END VIDEO CLIP)

BLACKWELL: Georgia Republicans cited concerns that redistricting comes too soon after the U.S. Supreme Court weakened the Federal Voting Rights Act with a recent ruling. But lawmakers say they won't rule out revisiting the idea later this year.

Nearly a decade after President Obama left the White House, his presidential center will hold its official grand opening ceremony in just a few hours. Barack and Michelle Obama are expected to welcome former presidents Joe Biden, Bill Clinton, George W. Bush, along with a star studded lineup of musical artists.

CNN's Jeff Zeleny has more from Chicago.

(BEGIN VIDEOTAPE)

JEFF ZELENY, CNN CHIEF NATIONAL AFFAIRS CORRESPONDENT: When you walk inside the Obama Presidential center, the first thing you see is toward a more perfect union. A bit of a history lesson with a message from the saying, America has always been a work in progress. You stop and listen and hear the president's remarks. Yes we can.

We all remember that anthem of his candidacy that led him to the White House. We often think of Barack Obama as a two-term president, but so much

happened before he got to the White House. When you walk past these signs really taken back to how he got there. It was not a foregone conclusion that he would win that primary campaign back in 2008, but he did win Iowa. Fired up, ready to go, a key slogan of his. And he went on to a very bruising campaign with Hillary Clinton.

MICHELLE OBAMA, FORMER FIRST LADY OF THE UNITED STATES: All of us driven by the simple belief that the world as it is just won't do.

ZELENY: This is not just about Barack Obama, it's about Michelle Obama as well. And this speech of hers during the Democratic National Convention in 2008 really was one of the first, first times where the country was seeing not just one Obama, but two Obamas.

And look, Joe Biden picked as the senator from Delaware to add experience to the ticket. Of course, we had no idea at that point what history would have in store.

[01:10:00]

So now that he's reached the White House, clearly what was waiting for him was the economy. But the reality is going through the first term, it wasn't clear that he would win reelection because of the economy, Obamacare, of course. This nearly cost him his reelection. There's no doubt about it.

It was viewed as a huge liability for his party. He lost control of Congress because of this. Obviously being commander-in-chief was one of the weightiest responsibilities of his presidency. I'm struck by how basically that is summed up just in like one panel here, the challenges here from ending the war in Iraq, expanding the war in Afghanistan, the war in Syria, the drone program, those are some of the most controversial pieces of his legacy still to this day.

Here is the replica Oval Office. When you walk inside here, it's reminiscent of most every presidential library and museum. Every one has them right down to the replica Resolute Desk. Of course, Donald Trump is not mentioned at all he in this presidential center. But when you look around this room, perhaps this is the most striking example of how very different things are.

TRUMP: You see the new and improved Oval Office.

ZELENY: And on the eighth floor is the Sky Room. It has sweeping views of the south and west sides of Chicago as well as Lake Michigan. But even more than that, these giant letters that are etched in stone are from a particular speech, the one he delivered on the 50th anniversary of the march on Selma.

BARACK OBAMA, FORMER U.S. PRESIDENT: Oh, what a -- what a glorious task we are given to continually try to improve this great nation of ours.

ZELENY: The architect said seeing these letters is like looking into his mind as he's writing the speech. This is one part of his legacy. But finally, this Obama presidential center is opening nearly 10 years after he left office. Jeff Zeleny, CNN, Chicago.

(END VIDEOTAPE)

BLACKWELL: The streets of New York will soon be flooded with Knicks fans. Thursday is the parade for the new NBA champs. This is their first title in 53 years. The new York mayor, Zohran Mamdani scheduled this victory parade right after the team's win.

And CNN's Omar Jimenez spoke with the mayor about what this means for the city and for Knicks fans.

(BEGIN VIDEO CLIP)

OMAR JIMENEZ, CNN CORRESPONDENT: There's a lot of people watching this though, who might not live in New York and think to themselves, alright, Knicks won a championship. Why is everyone going so crazy? How would you explain why this feels different?

MAYOR ZOHRAN MAMDANI (D) NEW YORK: I think one is the weight. We're talking about 53 years since we last won a championship, 26 years since we were last in the finals. Then I think it's also a story about the full circle moment of this in '99 we were up against the Spurs. Rick Brunson was on that team.

We lost 4-1. Now in 2026, his son Jalen Brunson is the captain of the team. We beat that same team, 4-1. It feels like a fulfillment of all those hopes.

And I think also for the city, it feels as if the entire city has rallied around this team. And some of it is the weight. Some of it also, though, is that people are so excited to be outside with one another, are so excited to be a part of something bigger than themselves. And what's a beautiful thing about this city is part of what we're talking about.

The projections on the wall across the street, the impromptu viewing on the LinkNYC kiosk, walking by, a guy with his trunk open and the TV on. It also speaks to the fact that this city is unique in that you can walk across this city. You can actually be outside and not having to drive everywhere. And part of that does give rise to these opportunities to be with people who you don't even know, who you've never met before because I don't know about you.

But you know, when, when we see GTA pull a spin move and go up for the layup, I'm not just embracing one of my best friends to my right. I'm also embracing somebody I've never met before on my left because we're just caught up in the joy and the moment of it. And I think people have felt alienated, they felt isolated for a long time. This is a moment that shows it doesn't have to be that way.

(END VIDEO CLIP)

BLACKWELL: We'll have more on the parade a little later. I'll speak with 16-year NBA veteran and former Knicks center Chris Dudley.

The first named storm of the Atlantic hurricane season has weakened as it moves north of the Gulf coast. But the threat from flooding is far from over. After the break, a climate scientist joins us to talk about the storm's path and the impact.

(COMMERCIAL BREAK)

[01:18:47]

BLACKWELL: Chinese state media is reporting that the country's top diplomat welcomed the U.S-Iran agreement and said this. It's the dawn of peace has arrived. Now Tehran's top negotiator says that Iran should lean more into its partnership with China.

At a news conference after the G7 summit, President Trump praised Chinese leader Xi Jinping for staying neutral during the negotiations.

(BEGIN VIDEO CLIP)

TRUMP: President Xi helped me. He tried to help and I think he probably helped get it solved. You know, they get 50 percent of their oil from that location. So that wasn't that easy. President Xi was fantastic. He tried to help me solve it.

(END VIDEO CLIP)

BLACKWELL: CNN Simone McCarthy is joining us live now from Beijing. So the description of this being the dawn of peace, that gives us some insight into how the Chinese think of this deal. Give us some more how they view this U.S.-Iran agreement.

SIMONE MCCARTHY, CNN SENIOR CHINA REPORTER: Well, first of all, Victor, I think one of the things that China will also be happy about is those comments that we just heard from president Trump. I mean, this is definitely a mark of how China has played its diplomatic craft over the course of this conflict, with China really being seen as, you know, presenting itself as a proponent of peace even as it's continued to buy Iranian oil in defiance of U.S. sanctions.

[01:20:13]

So seeing those comments from President Trump will certainly be something that China will see as a testament to the way that it's navigated this conflict and a testament to the message that it's been trying to send that it's a responsible global power, it's a proponent, it's a mediator.

But as far as the deal itself, certainly this dawn of peace language that we're seeing from China, I think it's very clear that Beijing has a number of economic and pragmatic interests in having this deal be reached. China has weathered the economic shock of the crisis much better than many of its neighbors in Asia in particular that's because of the energy constraints.

China has stockpiled an immense amount of strategic reserves. It's also been very far ahead in terms of the green technology transition. A lot of the drivers here in China are using EVs, not using gas powered vehicles. And so as a result of that, they're not feeling those same kinds of strains at the pump.

And so, but even still, that higher prices of fuel have been rippling through the Chinese economy, China is an export based economy, but needs to have a healthy international market, high international demand in order to maintain its own growth. So for all of these more pragmatic reasons, China is very happy to see the deal.

Wang Yi, as you mentioned, China's top diplomat specifically was talking about, specifically was talking about maintaining navigation in the Strait of Hormuz. He was encouraging all sides, as China always says, of ensuring that they follow through and implement the different facets of the deal.

And so we can see that this is China really putting its backing behind this. But the other thing that I will say is that across the world there's been a lot of discussion about whether or not the U.S. has had sort of a diminishing of its power on the global stage as a result of this conflict. And that's another area that China will be watching very closely as a rising power itself.

BLACKWELL: All right, Simone McCarthy reporting from Beijing. Thank you so much.

Tropical Storm Arthur has weakened, but it's still bringing a major flood threat to states along the Gulf Coast. And it was the first named storm of this year's Atlantic hurricane season. The Storm Prediction Center has issued a tornado watch for more than 3 million people in Louisiana and Mississippi.

Heavy rain from Arthur has triggered flood watches for millions of people from the northern Gulf coast, parts of southern Georgia, parts of eastern Texas, Louisiana, Mississippi, have gotten more than a month's worth of rain in just three days.

Meteorologist and climate scientist Chris Gloninger joins us live now from Massachusetts. Chris, good to talk to you.

You know, it's always a bit deceiving when we say a storm has been downgraded because tropical storm status is the wind, right. And this really isn't a wind story. So, you know, the theme of the show, the story is the rain. Talk about the threat ahead.

CHRIS GLONINGER, METEOROLOGIST AND CLIMATE SCIENTIST: You know, Victor, Hurricane Harvey quickly intensified to a Category 4 storm, but then weakened in 2017 as soon as made landfall. But it dumped feet of rain. Same thing with Arthur. This storm was a tropical storm for 12 hours before weakening.

And it too could deliver 10 to 12 inches of rain. And that is one of the issues we're seeing more and more with landfall in tropical systems. As the planet warms because we burn oil, coal and gas, it warms at about a degree and a half over the last century. Well, the atmosphere holds more moisture.

And this is what it looks like. That 1 1/2 degree of warming yields more than 7 percent extra moisture in the Earth's atmosphere. And it rains out in torrential downpours and potential flash flooding. And that threat will go from New Orleans today up through metro Atlanta, even over the next 24 to 48 hours. Victor.

BLACKWELL: Remember Hurricane Harvey and then the remnants of it sitting on Texas for days, day after day, just saturating the Houston and other areas.

And so speaking of Houston, Houston and Atlanta are FIFA host cities. And so how long are we expecting the remnants of what was Arthur to challenge these, these parts of the country?

GLONINGER: As the storm slowly propagates off of the east, we are going to see heavy rain linger into the next 48 hours, especially into Atlanta. So I think the Houston threat is, is starting to wane a little bit, but then the rainfall amounts will start to ramp up through the Atlantic -- Atlanta metro area over the next 24 to 48 hours. So that's the big news with this storm. Hurricane season off to a really quick start, right?

First day is June 1st or halfway through the month. We already have a name storm, but that actually goes against El Nino. So hopefully for the rest of the World Cup, we see quiet conditions and the National Hurricane Center, Victor, has backed that up with an El Nino.

[01:25:06]

We typically see less hurricane activity in the Atlantic and that is the hope that once we get past Arthur, things remain quiet for at least the next couple of months.

BLACKWELL: Yes. So the forecast has been three to six hurricanes, eight to 14 named tropical storms. I want to pull that thread a little more because El Nino expected to suppress or try to make the Atlantic hurricane season a little milder. How should we -- in what context should we put that as we look at the rest of the hurricane season, we get to the peak in September.

GLONINGER: Look, some seasons are off to a slow start. Andrew happened late in August. Right. And that was the storm of the season. So it only takes one historic storm to cause significant impacts across the United States. So I don't want to downplay that we'll expect a slower Atlantic hurricane season.

However, the odds are in our favor that we won't see a repeat of recent years. However, one thing I will caution you with, if we do see one or two of those storms, the Atlantic Ocean is incredibly hot. It's not just our atmosphere that's warming. The oceans are warming.

So if one of these storms stays open over those bathtub like waters, it could quickly explode into a major hurricane. Again, the odds are favoring a quiet season, but it only takes one storm to have major impacts like a late season Hurricane Andrew that hit south Florida in 1992.

BLACKWELL: All right, Chris Gloninger, thank you so much for being with me. Next on The Story Is, New Yorkers gearing up for a victory celebration

unlike any they've seen in a long time. We'll talk with a former Knicks player about what this means for the fans and for the city.

Plus, Kane connects. England's captain had a record setting day on the pitch the three lions took on Croatia. World Cup action ahead.

(COMMERCIAL BREAK)

[01:31:18]

VICTOR BLACKWELL, CNN ANCHOR: Welcome back to THE STORY IS. I'm Victor Blackwell.

Let's take a look at today's top stories.

President Donald Trump and his Iranian counterpart have signed hard copies of the U.S.-Iran agreement. That 14-point Memorandum of Understanding aims to end the war on all fronts, reopen the critical Strait of Hormuz, and states Tehran will not procure or develop nuclear weapons, among other provisions. World leaders have welcomed it so far.

Attorneys for Luigi Mangione will argue a psychiatric defense at his New York state murder trial this fall. They plan to argue that he was experiencing an emotional -- extreme emotional disturbance when he shot and killed UnitedHealthcare CEO Brian Thompson in New York City in December 2024. If it's successful, Mangione's second-degree murder charge could be reduced to manslaughter.

The Obama Presidential Center will hold its official grand opening ceremony in Chicago in just a few hours. Barack and Michelle Obama are expected to welcome former Presidents Biden, Clinton and Bush. The ceremony will also feature performances by several Grammy award- winning artists. The campus and museum opens to the public Friday on Juneteenth.

New York is gearing up to celebrate the Knicks first NBA championship in 53 years. Vendors have set up to sell merchandise. Signs are up, and security rails and risers are in place. Security will be tight. Everyone attending will be screened. That screening process starts at 6:00 a.m. Eastern.

Officials say more than 10,000 NYPD officers will be on duty to make sure the celebration stays peaceful.

The fans have been waiting for this moment for decades. After years of disappointments, and almosts, and maybe this years, this year the Knicks can call themselves champions.

And joining us to talk about the Knicks and Thursday's parade is Chris Dudley, 16-year NBA veteran and former center for the Knicks.

Chris, thanks for being with me. Listen, you are certainly counted in that "maybe this year, almost" crowd.

(CROSSTALKING)

BLACKWELL: You were on the '99 Knicks team. Interestingly enough, in the finals against the Spurs.

CHRIS DUDLEY, FORMER NEW YORK KNICKS PLAYER: Yes. Yes.

BLACKWELL: What's this feel like for you, this parade that's coming to celebrate with the city?

DUDLEY: Well, it's great. And as you said, we were in the almost. And it was great to get there and then we lost to San Antonio that year. So it was so much sweeter, even sweeter to have them beat San Antonio this year. An incredible series, fun to watch.

I was actually back there for game four, and you know, to be in Madison Square Garden when they come back from 29 points and went on a last second tip-in was, was just -- was magical.

And this team, it was their year. It was destiny that they were going to win it. And just, this was a team that's really easy to root for. Great players. I just love the way they play the game.

I actually played with Rick Brunson, Jalen's father. So it's -- and I think Jalen was running around our locker room a little bit back in the day. So it was great to see him set the tone, play so well, and just all the other guys accept the roles and just really played a great team.

They were a fun team to watch and it was just a great championship. And they had a great playoff run.

BLACKWELL: Man, that game four, I mean, to be at MSG for that and that tip-in. I can't tell you how many times I've watched that on social media since.

DUDLEY: Yes.

[01:34:49]

BLACKWELL: But you know what it's like to be down 25-plus points in the finals. And what does it take to fight back to get to that point?

DUDLEY: Well, you know, what was interesting is, is the team has come back all year and nobody -- you know, in Madison Square Garden, yes, people were down and disappointed to hear they are down -- you know, this pivotal game down 20 plus.

But everybody still believed. And I was sitting with Tim Thomas, another ex-Knick and we were talking and when the -- when the League got under 20, when it got to 19, the place -- Madison Square Garden started getting excited.

And then we were saying, you know, if this gets under ten, this place is going to go crazy. And it did. And then it's seven, then it's four.

And you can just tell they were just chipping away and they'd done it all playoffs long, and they've done it against San Antonio. So they believed. And then everybody in the -- in the stands in Madison Square Garden believed as well.

And it was just so much fun to see that momentum. And it just felt like this is -- this is actually happening.

BLACKWELL: Yes. It was fun to watch from home. I mean, I can only imagine what it was like at MSG.

DUDLEY: Yes.

BLACKWELL: Let me ask you, Patrick Ewing, after the win in San Antonio in game five, obviously he was excited. He was thrilled. But there looked to be like a sense of relief on his face.

He said in an interview that in '99, he had tears of sorrow. And on that night he had tears of joy. What did it feel like for you from the almost 27 years ago to now watch it actually happen?

DUDLEY: Well, you know, I just felt, you know, and they have a saying with the Knicks once a Knick, always a Knick. And I just felt, especially with Patrick, who'd been through so much, I wanted it for everybody involved with the Knicks organization over all those years to finally get that win.

And you know, and for Pat, it was so tough in '99 because he didn't -- he'd gotten hurt in the Eastern Conference finals and didn't -- wasn't able to play in the finals.

And it's something that we all wanted so badly for, for the city. And you just knew New York just needed -- wanted that championship. And they're such passionate basketball fans in New York.

So you wanted this so bad. And for just everybody who's rooting for the Knicks, everybody who's worked for the Knicks, everybody's played for them. And we were all, you know, it was just a relief and a celebration to finally get the championship.

BLACKWELL: All right. So let me ask you a bit of a controversial question here. Not too bad. Students, the Knicks fans, the young ones who are still in school, they are begging the state to move the regents exams so that they can get out of class and go to the parade.

Now, you ran for Oregon governor. If you were governor, would you move or should Kathy Hochul? Should NYS Education move the regents exams so that the kids can go to the parade?

DUDLEY: Absolutely. I mean, to me -- to me, that's a no brainer. You know, this doesn't happen -- you know, this happens every 50 years. So let's enjoy it. Let them enjoy it.

I'm here in Portland. People still talk about missing school and going to the parade back in '77 when they won it.

And so, you know, it's just something that families enjoy. They'll remember it for the rest of their lives when they were there. So I -- absolutely, I think they should.

It's just -- it just doesn't happen that often. So enjoy it. Let the kids celebrate history and enjoy the celebration.

BLACKWELL: Yes, well, we'll see if it happens. It doesn't look like it, but only a couple hours away.

Chris Dudley, I appreciate the conversation. Enjoyed it

DUDLEY: Yes. Enjoyed it. Thank you. Thank you Victor. Take care.

BLACKWELL: Full day of World Cup matches are scheduled for Thursday, including matches for co-hosts Canada and Mexico. The Czech Republic takes on South Africa here in Atlanta. Switzerland will face Bosnia and Herzegovina in Los Angeles. Canada and Qatar are looking for their first win in Vancouver. And Mexico will take on South Korea in Guadalajara.

Now, Colombia fans, you can hear them there, cheering on their national team against Uzbekistan and Mexico City. The White Wolves scored once in their World Cup debut, but they were no match for Colombia.

Daniel Munoz with a goal late -- there you go -- in the first half, Colombia added two more to win 3 to 1.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: It's absolutely incredible. Honestly, I see it coming. But Harry Kane' superb, absolutely incredible.

UNIDENTIFIED MALE: I've lost my voice. Work tomorrow. I've lost my voice.

UNIDENTIFIED MALE: Come on England, come on. It's coming home. England.

(END VIDEO CLIP)

BLACKWELL: A lot of love from England fans for Harry Kane. Captain scored twice in 4-2 victory over Croatia. Kane is now tied for the most World Cup goals of all time by an England player with ten.

[01:39:50]

BLACKWELL: In Houston, the Democratic Republic of Congo scored the equalizer in stoppage time against Portugal. This was the Congo's first World Cup appearance since 1974.

In Toronto, in Ghana's first win of the tournament, another stoppage time goal made the difference against Panama. Ghana took this one, one-nil.

Now when we return, the latest decision from the Federal Reserve on what to do about interest rates with a new chair in charge.

(BEGIN VIDEO CLIP)

KEVIN WARSCH, FEDERAL RESERVE CHAIRMAN: I've said for years, inflation is a choice. You bet it is. And today --

(END VIDEO CLIP)

(COMMERCIAL BREAK)

(BEGIN VIDEO CLIP)

WARSH: I don't share the view that was expressed a few generations ago that Federal Reserve chairmen show up at a podium like this and say, you got to choose. And you're going to have to decide whether you're willing to tolerate higher inflation to put more people at work.

I don't believe in that. What I believe is if we do our job, we can make strong growth, low prices and strong employment mutually compatible.

[01:44:46]

WARSH: And so what you heard from the committee today is we've got some work to do on this price stability front.

(END VIDEO CLIP)

BLACKWELL: That's Kevin Warsh speaking after his first meeting as Fed chair, he announced a list of changes he plans to make, but that does not include changing the interest rates for now.

The Federal Reserve held rates steady Wednesday for the fourth straight time. Policymakers voted to keep the rate between 3.5 percent and 3.75 percent.

President Trump appointed Warsh to cut rates, but nine Federal Reserve officials are calling for at least one rate hike this year to combat the latest inflation spike tied to the Iran war. Only one official expects to cut the rates.

This week SpaceX surpassed Amazon in market value. That record breaking IPO for Elon Musk's company was just last week. Well, Jeff Bezos has been speaking at VivaTech Paris, and he explained his plans to catch up on the space race and the A.I. front.

CNN's Anna Stewart has more.

(BEGIN VIDEOTAPE)

ANNA STEWART, CNN CORRESPONDENT: The battle of the billionaires or trillionaires is getting hotter. Elon Musk's SpaceX has eclipsed Amazon in terms of market cap and that is just days after the IPO.

Plus, Musk has leapfrogged Bezos personally. He is now the richest man in the world. And add to that a recent rocket explosion at Bezos' space company, Blue Origin, it's fair to say that Bezos took to the stage here at VivaTech rather on the back foot. But Bezos is doubling down on the competition. Firstly, in space.

JEFF BEZOS, BLUE ORIGIN FOUNDER AND AMAZON EXECUTIVE CHAIR: But moon first.

UNIDENTIFIED MALE: Moon first.

BEZOS: Moon first.

UNIDENTIFIED MALE: And then Mars.

BEZOS: And then Mars and everywhere else, too. Our long-term vision, our dream, is that all the polluting industry can be done off Earth.

If space travel gets reliable enough and inexpensive enough and we can get materials from asteroids and near-Earth objects and the moon, then this garden planet can be returned to its pre-industrial revolution state.

STEWART: He's also going to compete in A.I. And last year, he launched a new A.I. engineering company called Prometheus, but he says it won't replace humans.

BEZOS: There's a lot of concern that many people have, including many smart people, that A.I. is going to make humans redundant and so on. I totally disagree with this point of view. And I think, in fact, A.I. is going to create a labor shortage because it's going to make it possible for people to identify more problems. We have an endless set of things to invent.

STEWART: The issue of A.I. and jobs is always a thorny one at tech conferences like this, with many companies currently shedding thousands of jobs often to free up capital so it can be invested into A.I. And actually, Amazon is one of them.

Anna Stewart, CNN -- at VivaTech in Paris.

(END VIDEOTAPE)

BLACKWELL: Up next, the cost of a visa kept the mother of Cape Verde's goalkeeper from attending his memorable game against Spain, but now she may soon be headed to the U.S.

[01:47:48]

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BLACKWELL: U.S. Defense Secretary Pete Hegseth is in Brussels for the NATO defense ministers' meeting. He's speaking now with NATO Secretary General Mark Rutte.

Let's watch.

(LIVE EVENT)

MARK RUTTE, NATO SECRETARY GENERAL: -- 3.0 is really happening. A stronger Europe and a stronger NATO.

Your first visit to NATO was in February last year. And you gave a very strong speech about spending more, getting the production up, but also to make sure that it's a fair deal with the United States.

You said we are committed to NATO, but you also have an expectation, and expectation is that Europeans will at least equalize with what the U.S. is spending.

And they had to not only because you were asking, but also because we got to keep ourselves safe. And these are the capability targets we need to deliver.

And we committed to this in the Hague, but now it's coming on. It's happening. So almost $100 billion, over $90 billion more in 2025, almost 20 percent increase in Canada and in Europe.

So thank you for your guidance last year and your spirited speech, but also thank you for what you were doing when it comes to the defense industrial base. It's crucial. We need to produce more both in the U.S. and in Europe, to keep ourselves safe.

And this is a big priority of you and the team and the president opening up the defense industrial base in the U.S. We have to -- we are doing the same in Europe and Canada because we have to not only keep up, we have to do better than China, Russia, and others who are at this moment rapidly expanding their defense industrial output.

So for all these reasons, thank you for what you are doing, for your leadership, your commitment, and thank you for being here today.

PETE HEGSETH, U.S. SECRETARY OF DEFENSE: Well, thank you, Mark. Thank you very much. The Secretary General has done a fantastic job leading the way, working with us, working with President Trump, working with NATO to get to NATO 3.0. NATO 3.0 is post-Cold War recognition that needs to go back to a real hardline, military alliance that has real military capabilities capable of deterring, right here on the continent and taking the lead for the conventional defense of Europe, which you have led on and other nations are stepping up to do.

So, a lot of commitments made at the Hague summit, many countries following through, some that still need to do more. And we will be candid about that both in private and in public.

I think that's important. Friends, being honest with friends, making sure that they can step up. But I appreciate you noting what the United States is doing as well through the leadership of President Trump.

This is not just something we're saying. It's something were doing through the way we act as well. $1.5 trillion investment in our defense in FY '27 is a message to the world.

And we're so personally invested. I'll be up on Capitol Hill for weeks making the case, whether its reconciliation, or the supplemental, or the base budget, how important these investments are to our capabilities, our defense industrial base and building the arsenal of freedom that first and foremost protects America and American interests, but also backstops the strength of NATO and our allies.

So it all fits together, and it all sends the right message to the world that we understand the threats of this moment, and that we can't just talk about them. We have to be willing to stand up and do something in a strong way about it.

And so that will be my message to -- privately and publicly today. We appreciate you having us and look forward to Ankara and the great things that President Trump and the other leaders, leaders will be able to do for NATO going forward. You got it.

Thank you. Appreciate it.

Thank you.

RUTTE: Thank you.

[01:54:48]

BLACKWELL: That's U.S. Defense Secretary Pete Hegseth speaking with NATO Secretary General Mark Rutte there in Brussels at the NATO headquarters.

We'll have more of the news that comes out of this throughout the day.

(BEGIN VIDEO CLIP)

ANA CANDIDA EVORA, VOZINHA'S MOTHER (through translator): It was very emotional for me. My heart was almost jumping out of my chest. I was nervous but very happy for everything he has achieved in this tournament.

At home, his grandfather would often say, let's go to the football Field and would take him there. His father didn't like him playing football. His grandfather would tell him, one day, I will see you at the World Cup. And that's exactly what happened.

(END VIDEO CLIP)

BLACKWELL: And the mother of Cape Verde goalkeeper Vozinha watched her son's incredible performance in the draw with Spain from a distance, her home off Africa's Atlantic Coast. But this weekend she's expected to be able to see her son play in person in the U.S. That's thanks to the U.S. State Department and the House Minority Leader.

Hakeem Jeffries says that Vozinha's mom will get a visa in time for Cape Verde's match against Uruguay on Sunday. He says the fees have been waived.

Vozinha told reporters that his mother was not at his match on Monday because she could not afford the bond for a visa. So, good for them.

Thanks for watching THE STORY IS. I'm Victor Blackwell. The news continues right here on CNN after a break. [01:56:12]

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