NPR News Now covers a U.S.-Iran memorandum freezing nuclear activities and sanctions, though Israel’s stance in Lebanon remains uncertain. Defense Secretary Hegseth announces a review of U.S. forces in Europe to ensure NATO allies lead their defense. Markets react to new Fed Chair Kevin Warsh’s comments on interest rates, while gas prices dip below $4. The broadcast also reports on tornado warnings in the South, a New York Knicks championship parade, and President Trump awarding the Medal of Honor to a Vietnam veteran.