A Hawkish Fed Signals Higher Interest Rates Ahead

P.M. Edition for June 17. In Kevin Warsh’s first meeting as Fed chairman, officials unanimously held rates steady, though their projections showed that a rate hike is now more likely than a cut. WSJ economics reporter Matt Grossman discusses what we can glean about how the central bank is changing under Warsh’s leadership. Plus, in an exclusive interview with the Wall Street Journal, Apple CEO Tim Cook says that price increases for Apple products are “unavoidable.” We hear from reporter Rolfe Winkler about how much the next iPhone might cost. And what’s in the deal to end the war between the U.S. and Iran? Journal reporter Laurence Norman walks us through it. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter.