Treasury Department says Iran's economy cratering, inflation at 90 percent

The U.S.’s economic isolation campaign against Iran is “decimating” the country’s economy, according to a Treasury Department report released Friday. The Trump administration launched its sweeping economic pressure campaign, dubbed Operation Economic Outcast, at the end of August. During a Wednesday appearance on CNBC, Treasury Secretary Scott Bessent said the effort has been “very successful.”...

The U.S.’s economic isolation campaign against Iran is “decimating” the country’s economy, according to a Treasury Department report released Friday. The Trump administration launched its sweeping economic pressure campaign, dubbed Operation Economic Outcast, at the end of August. During a Wednesday appearance on CNBC, Treasury Secretary Scott Bessent said the effort has been “very successful.”...