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1 US Seizes Tanker Off Coast Of Venezuela According To President Trump
President Donald Trump announced yesterday that the United States seized a large oil tanker off the coast of Venezuela. Trump called it the largest tanker ever seized by the U.S. and said it happened for "very good reason." The tanker had been under U.S. sanctions for years because it was part of a network that shipped oil between Venezuela and Iran, which officials say supports foreign terrorist groups. Sources told ABC News the tanker is a Very Large Crude Carrier, which can hold up to 2 million barrels of oil, and it was headed for Cuba. This is the first time the U.S. has directly interfered with Venezuela's oil exports as part of its pressure campaign against President Nicolas Maduro's government.
2 Fed Cuts Interest Rates Another Quarter Point
The Federal Reserve cut its key interest rate by a quarter of a percentage point yesterday, the third cut this year. The vote was 9-3, the most "no" votes on a rate cut by the Fed since 2019, showing a split among officials over where rates should go next. Fed Chair Jerome Powell said the cuts were made to help the job market, which has been slowing down. He added that the Fed is now "well positioned to wait and see how the economy performs" before making more changes. Along with the rate decision, the Fed announced it will start buying $40 billion in Treasury bills beginning Friday.
3 House Passes $900-Billion Defense Policy Bill With Bipartisan 312-112 Vote
The House passed a $900-billion defense policy bill yesterday in a 312-112 vote. The bill sets spending levels for the Defense Department and national security programs. It includes $291-billion for operations, $234-billion for military personnel and health care, and $162-billion for procurement. All service members would get a 3.8-percent pay raise. The bill also includes $400-million for Ukraine military aid in both 2026 and 2027. It would repeal the legal justifications used for the Iraq wars in 1991 and 2003. The Senate still needs to pass the bill before it becomes law.