Lew says addressing Social Security's funding shortfall will be a pressing task for the next president and Senate candidates this November, according to CNBC.
Treasury Secretary Scott Bessent is expected to testify before Congress on issues including energy prices, government debt and the Trump administration's economic agenda, according to CNBC.
Scott Bessent faced pointed questions on energy prices, government debt and the administration's economic agenda during a House hearing, according to CNBC.
Washington cites Iran-related sanctions program in latest action against Russian lender VTB, according to TASS.
The action targets Russia's VTB Bank as part of what the Trump administration has described as an economic pressure campaign against Iran.
Scott Bessent said a major bank will face U.S. sanctions next week, part of Washington's ongoing pressure campaign targeting Iran.
Chancellor John Healey faces pressure to make tough fiscal decisions ahead of the October budget, even as Andy Burnham calls for a break from decades of economic policy, the Guardian reports.
BBC economics editor Faisal Islam writes that the government's efforts to maintain business and public confidence could limit the scope for future tax increases.