Afternoon Briefing — June 9, 2026

House Action and Iran. The House of Representatives barely advanced a reconciliation bill related to ICE and Border Patrol. This legislative action comes as former President Trump stated the U.S. will respond after Iran reportedly shot down a U.S. helicopter over the Hormuz Strait. A drone boat rescued the U.S. helicopter crew, according to reports.

DOJ Investigations. The Department of Justice (DOJ) has found that the Equal Employment Opportunity Commission (EEOC) violated law by pressuring employers to make race-based decisions. Separately, the DOJ opened an investigation into Philadelphia police regarding the canceling of gun permits. The Cleveland Clinic also settled with the DOJ in a gender-affirming care investigation.

Economic Outlook and Federal Reserve. The May inflation numbers are expected on Wednesday morning, with economists anticipating the latest data. Discussions are ongoing regarding equity market rotation amid rising Fed and interest rate concerns. These economic developments are closely watched for their potential impact on federal policy.

Pentagon and China. The Pentagon has labeled Chinese electric car maker BYD as a state actor. This designation makes U.S. contracts with BYD unlikely. The move reflects ongoing national security considerations regarding foreign entities.