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The U.S. sanctions aim to prevent the targeted Iranians from doing business with Americans or accessing U.S. accounts. The targeted vessels are from Palau, Panama and other jurisdictions.

The Federal Reserve is expected to cut short-term rates in 2026, with its key interest rate settling at 3.4% toward the end of President Donald Trump's term in office in 2028, according to the CBO.

The global economy is holding up better than expected despite major shocks such as President Donald Trump’s tariffs, but Kristalina Georgieva says that resilience may not last.

Bessent will discuss tariffs and national security issues related to the ownership of social media platform TikTok.

The U.S. on Feb. 24 imposed sanctions on dozens of people and oil tankers across China, the United Arab Emirates, India and other jurisdictions for allegedly helping to finance Iran.

The department has in the past deployed what are known as “extraordinary measures” or accounting maneuvers to keep the government operating.

Lutnick is a co-chair of Trump’s transition team, along with Linda McMahon, the former wrestling executive who previously led Trump’s Small Business Administration.

WASHINGTON — The Biden administration is forecasting that this year’s budget deficit will be nearly $400 billion lower than it estimated back in March, due in part to stronger than expected revenues, reduced spending and an economy that has recovered all of the jobs lost during the multiyear pandemic.