Washington, March 3 (IANS) The White House told Republican lawmakers on that “America will win” and that “the terrorist Iranian regime will be defeated,” as it defended President Donald Trump’s decision to launch major combat operations against Iran under “Operation Epic Fury.”In an eight-page guidance circulated to lawmakers, the administration said Trump had ordered “major combat operations against the Iranian Regime” with clear and achievable goals.The stated objectives incl…
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Washington, Feb 6 (IANS) The US Treasury is betting that stablecoins backed by government securities can strengthen the global role of the dollar, with Treasury Secretary Scott Bessent defending new legislation on digital assets before Congress.Testifying before the Senate Banking Committee, Bessent praised the GENIUS Act, which requires stablecoins to be backed by high-quality liquid assets such as US Treasuries.“This framework has the potential to expand dollar dominance, increase global dem…
Washington, Feb 5 (IANS) The United States is moving to revive small and community banks, arguing that years of heavy regulation weakened local lending and slowed economic growth, Treasury Secretary Scott Bessent told Congressmen. Testifying before the House Financial Services Committee on Wednesday (local time), Bessent said community banks are critical to small businesses, agriculture, and housing, but have steadily disappeared since the global financial crisis.“More than 50 per cent of comm…
Washington, Feb 5 (IANS) Artificial intelligence is becoming a new focus for US financial regulators. Treasury Secretary Scott Bessent told Congress that AI can strengthen markets, but it also poses risks that require close monitoring.Bessent was testifying before the House Financial Services Committee on the Financial Stability Oversight Council’s 2025 annual report. He said AI is now one of the four top priorities for protecting the financial system. The others are Treasury markets, cybersec…
Washington, Jan 13 (IANS) Non-citizens who harm police dogs or horses could be barred from entering the United States and deported under a bill approved by the House Judiciary Committee, a move supporters say will strengthen protections for law enforcement animals.The panel voted 18–12 to advance H.R. 4638, formally titled the Bill to Outlaw Wounding of Official Working Animals Act of 2025, recommending that the House pass the legislation with amendments.The bill would amend the Immigration an…