NYC Mayor Zohran Mamdani and Sen. Bernie Sanders rallied for Democratic Socialist candidates in New York primaries, fueling an ideological 'civil war' within the Democratic Party. This as Iran talks are stalled and Trump’s MOU is met with uncertainty on Capitol Hill. 
Guest host David Asman with Charlie Hurt, Caroline Downey, Walter Russell Mead, Sen Ron Johnson, Steve Forbes, Rep. Claudia Tenney and John Yoo. 
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One of the most telling statements from President Trump at this week’s G7 meeting was how worried he was about a potential economic catastrophe related to the Iran war and the closing of the Strait of Hormuz. And equally telling, the president referred to the stock market as a key barometer of the economy. This is very similar to over a year ago when he modified his original liberation day tariff schedules because the stock market tanked badly after his speech. So, he made adjustments.
With General Keith Kellogg, Victor Davis Hanson, Ben Ferguson, Ben Domenech, Conrad Dequadros, and David Banhsen. 
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Trump and Warsh promote good news

Kevin Warsh’s maiden voyage press conference as the new Fed Chairman was a masterful performance. He was knowledgeable, succinct, collegial, humble. By the way, so was the Fed’s press release. Short and sweet. 
 
With Liz Peek, Steve Moore, John Carney, Sen Jim Banks, Sen Dave McCormick, Sen Jim Banks, Sen Tommy Tuberville and Aaron Cohen. 
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Warsh’s message to markets

With all the fake news about some kind of $300 billion reparations fund for Iran, and President Obama’s inane remarks that nothing’s changed and nothing’s gonna change regarding Iran, it’s really important to remember how badly the U.S. has crippled Iran’s military and its economy. 
With Victoria Coates, Roger Zakheim, Miranda Devine, Doug Burgum, Michael Faulkender, EJ Antoni and Rep. Wesley Hunt. 
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Smashing Iran’s capabilities

Give at least a couple of cheers for coercive diplomacy, which is to say diplomacy through bombing. As Prussian military strategist von Clausewitz told us a couple hundred years ago, “war is the continuation of politics [or diplomacy] by other means”.
 
With General Jack Keane, Dan Brouillette, Reince Priebus, Steve Moore, Art Laffer, and Sen Marsha Blackburn.
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Verify, verify, verify

As I’ve said so many times, President Trump is not going to make a bad deal with Iran. And what we are learning from White House sources is an 80-85% chance of what they are calling the Islamabad memorandum of understanding. It could be completed in the next few days,  maybe this weekend. Importantly, according to sources, Iran will receive no money upon signing the MoU.
 
With Newt Gingrich, General Mark Kimmitt, Steve Forbes, Sen. Kevin Cramer, Miranda Devine and Caroline Downey. Learn more about your ad choices. Visit <a href="https://podcastchoices.com/adchoices">podcastchoices.com/adchoices</a>

Trump’s coercive diplomacy

High drama today as President Trump called off the Iranian bombing and announced that a deal with Iran is imminent from his truth social posting quote, ”Discussions and final points have been, in both concept and great detail, approved by all parties involved.” That’s the US, Israel, Iran and all of the gulf states involved in the war. Is this the secret sauce for temporary inflation spikes?
With Roger Zakheim, Rebeccah Heinrichs, Ben Ferguson, Liz Peek, Marc Sumerlin, Douglas Holtz-Eakin, Rep French Hill, and Tala Goudarzi
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Trump’s Secret Sauce

So, lo and behold, Project Freedom to reopen the Strait of Hormuz has been operating surreptitiously after all this past month. According to President Trump’s revelation today, our military has secretly helped more than 200 commercial ships with more than 100 million barrels of oil through the Strait. This was done by communicating and coordinating freely and safely to transit the ships, not actually escorting them. 
With Victoria Coates, Aaron Cohen, Sen. John Kennedy, Gianno Caldwell, Marc Thiessen, John Carney, Taylor Riggs and Rep. Jodey Arrington. 
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Trump’s secret oil stash

Is now the time for one last kinetic military bombing assault on the Islamic Revolutionary Guard Corps regime in Iran? We know that President Trump prefers diplomacy and is trying to complete an Iranian surrender deal. But the news today that the President is blaming Iran for shooting down a U.S. Apache helicopter over the Strait of Hormuz Monday night may change things.
 
With Sen. Dave McCormick, Mike Sarraille, Michael Faulkender, Walter Russell Mead, Byron York, Hogan Gidley, and Rep. Julie Fedorchak. 
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Return to military operations

That’s right, business is booming. Who do you think creates jobs? That’s a serious question. The answer is not consumer spending, which is what 99% of overeducated economists and media types will tell you. It’s business that creates jobs. And by the way, jobs are booming.172,000 in May. Last three months 188,000 average. April and March revised up 93,000.
 
With Kellyanne Conway, Victoria Coates, Miranda Devine, Charlie Hurt, Michael Faulkender, EJ Antoni and John Yoo. 
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Trump loves business, and business is booming

Not being a lawyer, I don’t know if the House passage yesterday to end the war in Iran is constitutional or not. And if it ever passes the Senate, President Trump will veto it, and he'll be right to do so.  Here’s what I do know: it’s stupid and it’s unpatriotic. It also interferes with President Trump’s Commander-In-Chief responsibilities to destroy a radical Islamist regime that has spent the last 47 years developing nuclear weapons and sponsoring terrorism in order to bring “death to America.” 
With Newt Gingrich, Peter Navarro, Marc Thiessen, Marc Sumerlin, Douglas Holtz-Eakin and Bret Velicovich
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Iran doesn’t have a War Powers Acr

The big question is whether change is coming to California. My pal Steve Hilton looks to have actually won the Governor’s jungle primary. He is one smart cookie and you can bet he’ll put together a great issues campaign to stop the corruption in California. And then there’s Spencer Pratt, running a strong second in the LA Mayoral, winning the hearts of moms and families to make LA a decent place to live again.
 
With Joe Concha, Ben Domenech, Sen. Jim Banks, Mike Sarraille, Brian Hook, Liz Peek, Dan Clifton and Grover Norquist
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Fed up in Los Angeles

The LA Mayoral race is a very important race, but it’s not really heavily a policy debate, and it’s not really partisan political race, in the usual sense. I think it’s more a question of whether moms can win back LA as a good place to live. And this chap Spencer Pratt is going for the mom vote.
 
With Victor Davis Hanson, Sen. Tommy Tuberville, NEC Director Kevin Hassett, Steve Forbes, John Carney, and Aaron Cohen. Learn more about your ad choices. Visit <a href="https://podcastchoices.com/adchoices">podcastchoices.com/adchoices</a>

Will the LA moms come home today?

Scott Bessent is the best wartime Treasury Secretary since WWII. First of all, at the direction of President Trump he has authored Operation Economic Fury, which of course is the Iranian blockade that will continue for as far as the eye can see, no matter what happens to the U.S.-Iran negotiations.
With General Jack Keane, Sen Marsha Blackburn, Rep Byron Donalds, Steve Moore, Art Laffer, Dan Brouillette and Walter Russell Mead.  
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Bessent: America is no longer sleeping

Scott Bessent is probably the strongest wartime U.S. Treasury Secretary going all the way back, at least to World War Two. Through his Economic Fury campaign, he has slowly but surely turned Iran's monetary and economic spigots completely off. Not only the blockade of Iranian ports, which has stopped their oil sales and revenues, but also his putting an end to their shadow banking system through aggressive use and modernization of the Treasury's Office of Foreign Assets Control.
 
With Treasury Secretary Scott Bessent, Michael Faulkender, Douglas Holtz-Eakin and Michael Boskin.
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Reaganesque and Trumpian optimism

The Gipper’s advice from 1980 applies today: ‘Peace is made by the fact of strength, economic, military and strategic.’
 
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Trust, but Verify

Everybody is talking about $4.50 gasoline at the pump. And all the usual suspects from the lefty media, and of course the Democratic party, and even the business media that ought to know better, are all talking about recession. Of course they’re against Trump. They’re against the Iran war. Only trouble is, not only are we not going into a recession, but the economy is actually booming.
 
With John Carney, Charlie Gasparino, Dan Brouillette, Aaron Cohen, Mike Sarralli, Ben Ferguson, Ben Domenech, and Ari Fleischer. 
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The Trumpian Boom

I continue to have great faith in President Trump’s dealmaking, and now he’s trying to put the finishing touches on a war with Iran, which seems to me is basically 90% or 95% over. Mr. Trump is the only President in the last nearly 50 years with the courage and vision to destroy the radical Islamic regime in Iran, and by and large he has succeeded. He will not make a bad deal. 
With General Jack Keane, New Gingrich, Miranda Devine, Art Laffer, Steve Moore and Sen Rick Scott. 
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Can we really win the Iran war without additional bombing?

Kudlow 05-25-2026Learn more about your ad choices. Visit <a href="https://podcastchoices.com/adchoices">podcastchoices.com/adchoices</a>

Kudlow 05-25-2026

Kevin Warsh was sworn in as the new chair of the Federal Reserve by Supreme Court Justice Clarence Thomas in a ceremony at the White House on Friday. What reforms will he bring to the
 Central Bank?
 
Guest host David Asman with EJ Antoni, Douglas Holtz-Eakin, Lisa Daftari, Rep Brandon Gill, Caroline Downey and Deroy Murdock.
 
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