Vice President JD Vance stated that the United States and Israel do not always share aligned interests, underscoring reported strains between President Donald Trump and Israeli Prime Minister Benjamin Netanyahu. In a snippet released on Wednesday for a "CBS Sunday Morning" interview scheduled to air on June 14, Vance acknowledged that although Israel remains a steadfast ally, their interests are "misaligned" many times. He emphasized that the US will persist in its collaboration with Israel but will prioritize its own national interests when they diverge.

Vance described Netanyahu as a leader who "assertively champions the interests of his nation" and noted that Trump has been explicit about what serves America's best interest. "Sometimes that means we’re in agreement and sometimes it means that we’re not," Vance stated. When questioned about Netanyahu’s stance towards the US on Iran, Vance conceded that the Prime Minister has made some missteps, though he refrained from providing specific details. "He’s certainly gotten some things wrong," said Vance.

The comments from Vance arrive after Netanyahu's Likud party confirmed his re-election bid. The party expects the Prime Minister to win, though the vote has not yet been officially scheduled and must be held by October. Meanwhile, ABC News' Jonathan Karl reported that Trump said he was unsure whether Netanyahu would seek another term, calling his career "amazing" and questioning whether he would continue.

Earlier this month, Trump confirmed that he told Netanyahu he was "effing crazy" during a call over Israel's continued strikes in Lebanon, which frustrated US efforts to de-escalate the conflict. Trump stated he was only "a little bit perturbed," not angry, and that he maintains a strong relationship with the Israeli Prime Minister, urging him to "stop this" fighting. Notably, Israel and Lebanon agreed to a US-brokered ceasefire soon after.

However, despite Trump’s repeated efforts to stop Netanyahu from escalating the conflict, Israel struck a petrochemical facility in Iran on Monday. This marked the first attack on the country's energy infrastructure since the April ceasefire. The strike occurred despite the prior agreement to halt hostilities.

Producer prices accelerated in May as the Strait of Hormuz energy shock fed through the pricing pipeline, raising concerns over the Federal Reserve’s inflation outlook. The headline Producer Price Index climbed from 5.7% year-over-year in April to 6.5% in May, topping economist expectations of 6.4% — the hottest reading since December 2022.

On a monthly basis, wholesale prices rose by 1.1%, surpassing the 0.7% consensus after April’s 1.1% surge. Stripping out food and energy, core PPI stayed at 4.9%, missing a rise to 5.4%. Underlying month-over-month pressures rose 0.4%, decelerating from the prior 0.7% and against a 0.5% consensus.

The May print follows Wednesday’s Consumer Price Index reading of 4.2%, the highest since April 2023. The combination of rising producer prices and persistent consumer inflation presents a challenging environment for monetary policymakers.

The data indicates that while monthly price pressures moderated slightly at the core level, the headline inflation surge remains driven by energy volatility stemming from geopolitical tensions.