Washington and Tehran announced a Memorandum of Understanding had been reached over the weekend.

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The new Fed chair is on a political honeymoon with a U.S. president who has been the Fed’s biggest opponent.

Vance on CNBC’s “Squawk Box” expressed confidence that America has “all the cards” in subsequent talks with Iran.

Stocks rose after a preliminary U.S.-Iran agreement, but questions remain over Hormuz, Israel and what follows a potential signing in Geneva.

President Donald Trump issued the threat ahead of this week’s G7 summit in Évian-les-Bains, France.

The agreement came after more than three months of stop-start negotiations and bouts of fighting since late February, roiling global energy and commodities markets.

The deal follows weeks of mixed messaging from both Washington and Tehran on the trajectory of the conflict.

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The leaders also discussed Iran, with Trump saying a U.S. agreement with Tehran was close.