Ceasefire will be indefinite, Trump says, as top economist puts risk of recession at 40% if Hormuz stays closed ...Middle East

Good morning. On Fortune’s radar today:

Gates Foundation investigates ties to Epstein. Ceasefire will be indefinite, Trump says. Hormuz closure pushes chance of recession in the U.S. to 40%. Markets: S&P futures decline after record high. Iran could face the USA in the World Cup ?  Kevin Warsh may not arrive at the Fed until after the war.

This story was originally featured on Fortune.com

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