The U.S. Treasury announced Friday it has imposed sanctions on the Turkish bank Golden Global Yatirim Bankasi Anonim Sirketi, as part of the Trump administration’s latest effort to sever “critical financial lifelines” for the Iranian government.
Having launched “Operation Economic Outcast” just last week to try to isolate Iran from its remaining global trade partners, the Trump administration also resumed strikes in recent days — signaling President Donald Trump’s turn to a dual-pronged approach that combines economic pressure with the potential of a devastating escalation in force. But the Iranian leadership has yet to bow to already intense sanctions and an intermittent bombing campaign since the war began six months ago.
The global economy, meanwhile, continues to roil. Diesel hit a record price in the U.S. on Friday, soaring to an average of $5.85 a gallon for the first time as the war disrupts the world’s flow of fuel.
A day earlier, Vice President JD Vance rejected the use of the word “war” to describe the fighting with Iran and steered clear of predicting that the 6-month-old conflict would be over by November’s midterm elections, in which Republicans are trying to hang on to their narrow majorities in Congress.
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Widow of airman killed in Mideast is upset she was told Iran wasn’t a war while sorting out benefits
The widow of an airman killed on a combat mission in the Middle East said it took a viral social media post to get resolution from the Pentagon on issues related to her husband’s benefits and basic pay months after his death.
Maj. Alex Klinner, 33, was one of six crew members of a KC-135 refueling aircraft that crashed in western Iraq in March while supporting operations against Iran.
The Air Force reached out to his widow, Libby Klinner, this week to clarify that his final paycheck would include hazard pay and combat-related tax breaks. She had voiced frustration on social media at being told by a military officer that her husband was ineligible for those benefits because “we were not at war.”
“My husband lost his life because we’re in a war, and then I was told that because it’s not technically a war, we lose out on something,” Klinner told The Associated Press. “It all comes down to principle.”
Judge to decide ‘very shortly’ whether prosecutors could seek new Reflecting Pool charges against ex-Olympian
During a hearing on Friday, David Hearn’s attorneys urged D.C. Superior Court Judge Todd Edelman to dismiss the Maryland resident’s case with “prejudice,” which would block U.S. Attorney Jeanine Pirro’s office from refiling the felony charge against the former Olympic canoeist. The judge didn’t rule from the bench after hearing attorneys’ arguments.
Hearn’s lawyers say Trump administration officials have continued to falsely accuse the Maryland resident of vandalizing the reflecting pool despite Pirro’s decision to drop the case on July 31. Hearn was charged with one count of property destruction.
Assistant U.S. Attorney Michael Spence told Edelman that Pirro’s office has no plans to seek another grand jury indictment of Hearn. But the prosecutor said that plan could change if any new evidence emerges.
Hearn, 67, of Bethesda, Maryland, competed in three Summer Olympics.
Supreme Court gives Republican campaign committees a win on TV ad rates ahead of midterms
The Supreme Court sided with Republicans in a dispute over campaign ad prices on Friday, clearing a legal roadblock to political parties getting cheaper TV ad time ahead of the midterm elections.
The justices halted, for now, a lower-court ruling in favor of Democratic candidates who argued that cheaper broadcast ads should be limited to candidates. It’s the latest election-related appeals to come before the high court ahead of the pivotal November contests.
Trump says he can ‘understand’ what Vance was saying in not calling Iran fighting a war
Asked about the vice president suggesting on Thursday that the fighting in Iran isn’t a war, Trump said the conflict is “not a big thing.”
“I can understand what he’s saying. It’s a military conflict, but it’s very intimate,” Trump said of Vance’s assessment. “And I could see somebody not calling it a war.”
The U.S. continues to bomb Iran with the war now in its sixth month. Yet Trump said, “I would say that it’s intermittent” in terms of fighting, adding, “We’re not fighting right now. There’s no fighting.”
The president once suggested he’d wrap up the war in Iran in a matter of weeks. Asked when fighting might actually conclude now, he offered, “I want to leave so that the next president doesn’t have to worry about it.”
Trump says he’ll host a state dinner for China’s Xi on Sept. 24
Chinese President Xi Jinping is set to visit the White House later this month, and Trump confirmed there will be a state dinner in his honor.
“We look forward to it. He’s a great gentleman. We get along great,” Trump said of Xi. “We have a very good trading relationship. And, you know, they’re a competitor and all of that. But we have a very good relationship with President Xi.”
Trump noted that the new White House helipad he has been building on the White House lawn would be ready in time for Xi’s visit.
“We’ve done very well with China,” Trump added. “And China and I have a very good relationship.”
Trump announces executive orders on food processing and culling grey wolves
The president said he was signing two orders, one of which is designed to allow farmers and ranchers “the right to process their own food.”
Trump said the order would break up what he suggested was a near-monopoly held by four major meat processing firms.
He didn’t name those companies, but said two were based in Brazil. The president said the move would ultimately help lower food prices.
Trump also announced that he’d sign an action meant to allow for culling populations of grey wolves from Mexico, Canada and other places.
Surrounded by farmers and ranchers from Arizona and other western states, who described wolves attacking their livestock and dogs, Trump said the action means, “You’ll be able to protect your herd.”
Trump says his super PAC will spend on the midterms — but provides few details on how
Asked about MAGA, Inc., which has at least $400 million in campaign funds, Trump said, “I’m going to be making contributions to various campaigns” that “I think are good people.”
Pressed on how he’d decided which candidates to support, Trump said, “I sit down, and I say, ‘Let’s do this.’”
“I’m going to spend whatever amount of money necessary to try and help us,” Trump said of Republicans running in November’s midterm elections.
He added, “This is my money,” however, and said it was “separate” from funds controlled by the Republican National Committee.
The president also said he could hold some of the funds until the elections in 2028 “if that’s what I want.”
Trump weighs in on Clancy mistrial, calls the killings a ‘horrible tragedy’
The president said he followed television news coverage of the trial in Plymouth, Massachusetts.
“It’s a terrible situation. Look, she did a horrible, horrible thing,” Trump said of Lindsay Clancy. “Can’t be worse. But you’ll find out what the price to pay is. There’ll be a price — a mental institution or jail or something.”
A judge earlier Friday declared a mistrial after jurors said they could not reach a unanimous verdict on whether she was criminally responsible when she strangled her three young children.
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Trump vents about high interest rates after strong jobs report
The president expressed his anger that U.S. interest rates climbed in response to the solid August jobs report.
The addition of 162,000 jobs last month indicated that demand for workers might be exceeding their availability, which could contribute to higher prices. Interest on the 10-year U.S. Treasury climbed to nearly 4.8%.
Trump said that the financial markets were wrong.
“Success does not cause inflation. Stupidity causes inflation,” Trump said to reporters in the Oval Office.
The president claimed that overall economic growth could be in the double digits if the rates were lower, an opinion not shared by any credible outside economic forecaster.
Trump confirms envoys will travel this weekend for talks on Russia-Ukraine war
U.S. envoys Steve Witkoff and Jared Kushner are expected to travel to Moscow and then Kyiv over the weekend and into early next week.
“They are bringing with them a proposal to end the war,” Trump said.
Witkoff and Kushner’s visit comes as the air war between Russia and Ukraine has intensified.
Earlier Friday, a Russian drone struck the headquarters of Ukraine’s security service in central Kyiv.
Trump calls conflict in Iran ‘small potatoes’
The president’s comments came a day after Vice President JD Vance said he wouldn’t call the conflict in Iran a “war.”
Asked during an Oval Office exchange about Vance’s comments, Trump defended the rhetoric.
“I can understand what he’s saying,” said Trump, who added that U.S. strikes against Iran in the six-month-old war are now “intermittent. “I call it a military conflict because it’s small potatoes for us.”
‘We know who you are, we know where you are’
In a news release about sanctions on a Turkish bank, U.S. Treasury Secretary Scott Bessent said financial institutions with ties to Iran will “continue to find out the hard way that we are serious about Operation Economic Outcast.”
“While we hope no more banks will need to be sanctioned, that ultimately depends on how quickly the international community comes to its senses and ceases support of the murderous Iranian regime,” he continued.
“We know who you are, we know where you are, and we will continue to take action together with our allies and partners until we have buried the head of the Iranian snake.”
US issues sanctions on Turkish bank that it calls a ‘critical financial lifeline’ for Iran
The U.S. Treasury Department announced Friday it has imposed sanctions on a Turkish financial institution as part of its latest effort to sever “critical financial lifelines” for the Iranian government.
The actions against Golden Global Yatirim Bankasi Anonim Sirketi come nearly a week after Treasury Secretary Scott Bessent announced “Operation Economic Outcast” as the new effort by Washington to get Tehran to capitulate to its demands after more than six months of war.
Last week, the U.S. targeted an Egyptian bank’s operations in the United Arab Emirates.
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Other allegations in the internal report on Chavez-DeRemer
Among the allegations are accusations that senior staff berated employees in front of colleagues and made staffing decisions based on physical appearance rather than professional qualifications.
In one incident, during a personal trip to Oregon, Chavez-DeRemer allegedly stopped at a strip club featuring partially nude dancers and directed her limousine driver to give money to a performer, the report said.
The report says it was based on interviews with 53 current and former labor department staffers and one employee from another federal agency, as well as a review of more than 500 documents, images and videos.
Trump hails ‘great’ jobs numbers and calls again for lower interest rates
The president posted on his social media site that the job tally broke “all estimates (except mine!).”
“Lower the interest rates because the U.S.A. is a much stronger credit than it was just a short time ago! A STRONG COUNTRY MEANS A LOWER INTEREST RATE” Trump wrote.
He added that, “We should have the LOWEST RATE of any country in the World, like ‘the old days’ and threatened: “LOWER THE RATE OR I’LL STOP TRADING WITH COUNTRIES WITH WHICH WE HAVE A DEFICIT.”
In August, employers added a surprising 162,000 jobs, according to the latest jobs report.
Federal Reserve Chair Kevin Warsh has said inflation is still too high and suggested the central bank may have to raise interest rates in the coming months.
Watchdog report: Former labor secretary oversaw a hostile work environment and misused funds
Former Labor Secretary Lori Chavez-DeRemer oversaw a “toxic, intimidating and humiliating” work environment and engaged in numerous violations of department policy, according to a new report from the department’s Office of Inspector General.
The report includes allegations that Chavez-DeRemer “engaged in an inappropriate relationship” with a member of her security detail and violated travel regulations by combining personal and official travel, as well as violating the department’s alcohol policies, directing staff to perform personal tasks on official timing, and failing to report gifts through appropriate channels.
Chavez-DeRemer, who resigned earlier this year, did not immediately respond to a request for comment sent to an email listed on her Facebook page.
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Jordan’s alliance with the US makes the kingdom a target for Iranian strikes
Jordan, a staunch U.S. ally that hosts American forces in the Mideast, has paid a price for its relationship with Washington, which has made the kingdom’s military bases a target of repeat Iranian strikes.
Hundreds of drone and missile attacks have added to other strains on Jordan that include a slumping economy and volatility in the neighboring West Bank, where Israeli settlers have ramped up attacks on Palestinians.
Despite the risk of more strikes, Jordanian leaders say they’re committed to maintaining the relationship after decades of courting deeper security ties with American officials and offering to be a reliable partner with the West in a region rocked by conflict. Analysts say the alliance offers Jordan a way to guard against Iran’s attempts to destabilize its neighbors.
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Solid job figures could boost the case for a Fed rate hike
The jump in hiring last month and low unemployment rate point to a mostly solid job market, a sign the Federal Reserve could lift rates at its meeting next month to combat inflation.
Steady hiring suggests overall interest rates aren’t high enough to cool borrowing, spending and inflation. A hike by the Fed at its Sept. 15-16 meeting could lift borrowing costs for mortgages, auto loans and credit cards.
Vice President JD Vance on Thursday became the latest Trump administration official to urge the Fed to cut rates, rather than raise them, which few economists or Wall Street investors expect.
A lot will ride on next Friday’s inflation report. On Thursday, top Fed official Christopher Waller said his decision on whether to hike rates would largely hinge on whether that report shows inflation cooling or not.
Hiring perked up last month in the latest sign of a choppy job market
U.S. companies and other employers added 162,000 jobs last month, an improvement from recent months of sluggish hiring, while the unemployment rate stayed a low 4.1%.
The figures suggest businesses are optimistic enough about the economy to expand and gives the Trump administration and Republicans running for Congress a positive talking point heading into midterm elections.
Still, average hourly wages grew 3.1% from a year ago, usually a decent figure but below the August inflation rate of 3.4%. That means Americans are losing purchasing power even amid an otherwise healthy economy.
Big job gains were recorded in manufacturing, construction, and restaurants, bars, and hotels.
Midterm mail ballots start to go to voters as litigation over Trump’s order creates uncertainty
Statewide mail voting for this year’s midterm elections kicks off Friday amid a churning legal battle over President Trump’s attempts to limit the practice and mounting concern over Postal Service changes that some state officials blame for a rise in rejected ballots.
The developments have created a sense of uncertainty about a popular voting method used by one-third of the nation’s voters.
North Carolina on Friday is scheduled to become the first state to widely distribute mail ballots for this year’s elections, which will determine the balance of power in Congress for the remainder of Trump’s term.
Election officials said that while they’re closely monitoring the litigation, ballots will be mailed out as expected and the state is prepared to administer a secure election even if the new limits go forward.
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Rubio heads to South America to visit right-leaning leaders friendly with the Trump administration
Secretary of State Marco Rubio will travel next week to Colombia, Ecuador and Peru, three South American countries increasingly aligned with the Trump administration’s policies in the hemisphere.
The State Department said Friday that Rubio would discuss enhanced cooperation between the U.S. and the three nations to combat narcoterrorism and expanding commercial ties during his three-day trip that starts Tuesday. It will be Rubio’s fifth trip to Latin America since he became Secretary of State in January 2025.
At each stop, Rubio “will reaffirm the Trump administration’s commitment to a secure, prosperous, and democratic Western Hemisphere,” the State Department said.
The administration and Rubio in particular have made the region a priority, having ousted Venezuela’s former president and taking aim at the governments of Cuba and Nicaragua while cracking down on illegal migration.
Vance says Iran fight isn’t a ‘war’ as Trump tries to navigate unpopular conflict as election nears
Vice President JD Vance on Thursday rejected the use of the word “war” to describe the U.S. fighting with Iran as he steered clear of predicting that the 6-month-old conflict would be over by November’s midterm elections, in which Republicans are trying to hang on to their narrow majorities in Congress.
“I wouldn’t call it a war,” Vance said after being asked during a White House press briefing about whether the fighting could end before voters cast their ballots in the Nov. 3 congressional elections. “Right now, there is no active shooting.”
Vance’s assertion came even as Iran fired at U.S. Gulf ally Kuwait on Thursday as it continued to retaliate for rounds of U.S. strikes on Iran earlier in the week.
Vance’s attempt to minimize the intensity illuminates the difficult task at hand for Trump and his administration as he tries to persuade American voters to keep Republicans in control of Congress.
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Trump turns to a dual economic and military approach in latest attempt to squeeze Iran
Confronted by an intransigent Iranian government that has refused to back down in the face of a massive military campaign, President Donald Trump appears to have settled on a dual-prong approach that combines economic pressure with the potential of a devastating escalation in force.
Having launched “Operation Economic Outcast” just last week to try to isolate Iran from its remaining global trade partners, the Trump administration also resumed strikes in recent days, prompting Iranian retaliation that has renewed concerns of an all-out regional war.
However, the combination of already intense sanctions on Iran and an off-and-on bombing campaign since the war began more than six months ago has not bowed the Iranian leadership and has left the administration struggling to find a way to wind down the conflict. Tehran has dug in its heels — to Trump’s frustration — as energy prices rise, the global economy roils and poll numbers on the administration’s handling of the war dip ahead of November’s midterm congressional elections.
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