USA News

The US Treasury will utilise Iranian assets to assist Gulf allies in recovery efforts from damages incurred during the Iran war, according to sources. Treasury Secretary Scott Bessent has directed evaluations of the costs for repairs and potential asset access for financing, though specifics on the assets remain unclear.

Texas Attorney General Ken Paxton has secured the GOP nomination for the Senate, unseating four-term incumbent John Cornyn, according to CBS News projections. Paxton’s campaign received a boost from President Trump’s endorsement, setting up a contest against Democratic nominee James Talarico in November.

Federal Reserve Chair Kevin Warsh faces significant challenges with upcoming inflation data expected to show an annual rate of 3.9% for April, the highest since May 2023. Competing pressures from President Trump for lower rates and rising inflation complicate Warsh’s commitment to reshape Fed operations while maintaining independence.

President Trump is scheduled to visit Walter Reed National Military Medical Center for his annual dental and medical evaluations. This visit follows previous assessments, including a routine check-up in October. Trump, who turns 80 next month, has chronic venous insufficiency but remains in overall good health.

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