Department of Treasury announces economic attack on Iran's auto and rail industries

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By Sophia Thomas • Updated Oct 5, 2026 at 16:45

What will Washington do next if US bond yields keep rising? - Reuters — Department of Treasury announces economic attack on Iran's auto and rail industries

The U.S. Department of Treasury has launched Operation Economic Outcast focusing on Iran's auto and rail industries as part of a broader economic attack. Treasury Secretary Scott Bessent has changed his approach to bond market confidence due to increasing bond yields, which have reached a 32-year high. Additionally, the Treasury and IRS have proposed regulations for the Federal Scholarship Tax Credit.

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