Today, Peter Berkowitz offers insights into his popular Stanford seminar on the history and varieties of American conservatism. Amit Seru shines a light on an underappreciated source of potential systemic risk in the US financial system. And Steven J. Davis speaks with Richard Baldwin about recent shocks in US trade policy and their consequences for the American and global economies.

Hoover Daily Report | June 25, 2025

Today, Niall Ferguson writes about what he thinks might come next in the conflict among Iran, Israel, and now the United States. Victor Davis Hanson argues the air strikes on Natanz, Fordow, and Isfahan worked to keep Iran from continuing to pursue nuclear weapons and may spell the end of the regime as a whole. Mike Steadman interviews an entrepreneur working to better educate the ordinary person about using generative AI. And John H. Cochrane explores recent worries about threats to the Federal Reserve’s independence.

Today, Abbas Milani sketches the tough choices now facing Iran’s leadership and calls for the protection of Iranian civilians amid ongoing strikes; H.R. McMaster analyzes the American bombing campaign against Iranian nuclear infrastructure over the weekend; and Kiron Skinner also responds to the US strikes, suggesting that President Trump is charting an American grand strategy unlike any other so far this century.

View the full report: Hoover Daily Report | June 23, 2025