U.S. Treasury Secretary Scott Bessent defended recent U.S. military strikes on Iranian infrastructure as necessary escalations to de-escalate tensions, while also explaining the easing of sanctions to release Iranian oil onto global markets as a strategic move against Iran. Iran warned of retaliatory attacks on U.S. and allied infrastructure if its fuel and energy facilities were targeted, though the U.S. has so far avoided directly hitting Iran’s oil infrastructure. Meanwhile, growing political opposition in Congress criticized the administration for lack of authorization, transparency, and a clear strategy, calling for an end to the conflict.
Posts tagged as “the Treasury Department’”
House Speaker Kevin McCarthy (R-Calif.) has sought to reassure investors that the U.S. government will not default on its debt due to the looming debt limit fight between congressional Republicans and the White House. President Joe Biden is set to deliver his first State of the Union address on Tuesday, which is expected to provide a glimpse into his argument for a second term in office and will be closely watched by both the American people and investors.