holds

Congress versus the presidency

Experts like Tuesta argue that the last decade of political instability has all but rendered Peru’s executive branch a secondary power.

By contrast, its unicameral Congress has expanded its might, though its members are largely unpopular among Peruvians.

Part of its influence comes from its impeachment powers. Peru’s Congress can remove presidents for “moral incapacity”, a catch-all term that has been used to denounce anything from undisclosed meetings to security crises.

Paulo Vilca, a researcher at the Institute of Peruvian Studies, explained that the shifting power dynamics have made it difficult for presidents to remain in office.

“In the past, we used to elect presidents for five years. Now, what’s more likely is that they will not last five years,” said Vilca.

But Peru’s unicameral Congress will come to an end this year. On Sunday, Peruvians will vote for a second congressional chamber, a Senate, for the first time since 1990.

Vilca argues that the congressional election may be even more important than this year’s presidential race. But it will also likely deepen Peru’s ongoing political crisis, he added.

He predicts that Congress’s chambers will soon be in conflict with each other, as well as with the president, in a three-way battle for power.

“It is very likely that those who are elected deputies, for example, will not be very satisfied with having a subordinate position in front of the Senate,” Vilca said. “So we’re going to move from a crisis of two to a crisis of three.”

The Senate was eliminated in 1992 by the late President Fujimori, Keiko Fujimori’s father, after he dissolved Peru’s bicameral Congress and implemented military rule.

The younger Fujimori has sought to build on her father’s legacy, and her right-wing party, Fuerza Popular, has become a deciding force in the unicameral legislature.

Keiko Fujimori even pledged to use her party’s power to “govern from Congress” after her defeat in the 2016 presidential race.

Since then, analysts have argued that Fuerza Popular has led efforts to change governmental processes to maintain or expand its power, even at the expense of democratic participation.

One change that it championed and passed in 2025 requires parties to earn at least 5 percent of the overall vote and a minimum of seven seats in the lower chamber to maintain their official political registration. For the Senate, parties must get at least three seats and 5 percent of votes.

Critics have said the measure creates a nearly insurmountable threshold.

“This whole system has been designed by the parties that are currently in Congress. And in particular, the one that has controlled the Constitutional Committee all these years has been Fuerza Popular,” said Vilca.

“I think the purpose of designing this whole model has been to maintain a status quo, which the Fujimori wing has also created in the last five years.”

Vilca is not optimistic that a new Senate will resolve the erosion of power away from the presidency. If anything, he anticipates more conflicts to come.

“My most likely scenario is that the crisis continues,” he said, “that whoever is elected president will enter into confrontation with the Senate”.

ISLAMABAD — The United States and Iran began face-to-face negotiations Saturday in Pakistan, days after a fragile, two-week ceasefire was announced, as the war that has killed thousands of people and shaken global markets entered its seventh week.

The White House confirmed the direct nature of the talks, a rare instance of high-level U.S. government engagement with the Iranian government.

Iran’s state-run news agency said three-party talks including Pakistan had begun after Iranian preconditions, including a reduction in Israeli strikes on southern Lebanon, were met, and after U.S. and Iranian officials met separately with Pakistani Prime Minister Shehbaz Sharif.

The U.S. delegation led by Vice President JD Vance and the Iranian delegation led by Parliament Speaker Mohammad Bagher Qalibaf were discussing how to advance the ceasefire already threatened by deep disagreements and Israel’s continued attacks against the Iranian-backed Hezbollah in Lebanon.

Since the Islamic Revolution in Iran in 1979, the most direct U.S. contact had been in September 2013 when President Obama called newly elected President Hassan Rouhani to discuss Iran’s nuclear program. The recent highest-level meetings were between Secretary of State John Kerry and counterpart Mohammad Javad Zarif during negotiations over the program.

Iran sets ‘red lines’ including compensation for strikes

Iran doubled down on parts of its earlier proposal, with its delegation telling Iranian state television it had presented some of the plan’s ideas as “red lines” in meetings with Sharif. Those included compensation for damage caused by the U.S.-Israeli strikes that launched the war on Feb. 28 and releasing Iran’s frozen assets.

The war has killed at least 3,000 people in Iran, 1,953 in Lebanon, 23 in Israel and more than a dozen in Gulf Arab states, and caused lasting damage to infrastructure in half a dozen Middle Eastern countries. Iran’s chokehold on the vital Strait of Hormuz has largely cut off the Persian Gulf and its oil and gas exports from the global economy, sending energy prices soaring.

Reflecting the high stakes, officials from the region said Chinese, Egyptian, Saudi and Qatari officials were in Islamabad to indirectly facilitate the talks. The officials spoke on condition of anonymity to discuss the sensitive matter.

In Tehran, residents told the Associated Press they were skeptical yet hopeful about the talks after weeks of airstrikes left destruction across their country of some 93 million people. Some said the path to recovery would be long.

“Peace alone is not enough for our country, because we’ve been hit very hard, there have been huge costs,” 62-year-old Amir Razzai Far said.

Meanwhile, Israel pressed ahead with strikes in Lebanon after saying there is no ceasefire there. Iran and Pakistan have disagreed. The Lebanese state-run news agency reported at least three people killed.

Officials posture over key issues ahead of talks

Ahead of the talks, President Trump accused Iran of using the Strait of Hormuz, a key artery for global energy supplies, for extortion, and told reporters Friday it would be opened “with or without them.”

Iran’s closure of the strait has proved its biggest strategic advantage in the war. Around a fifth of the world’s traded oil had typically passed through on over 100 ships a day. Only 12 have been recorded transiting since the ceasefire.

Iran has floated the idea of charging ships, though the idea has been widely rejected by countries including the United States and Iran’s neighbor Oman.

On Saturday, Trump said on social media that the U.S. had begun “clearing out” the strait, but it was unclear whether he was referring to the reported use of mines there or Iran’s broader ability to control the area.

Iranian Foreign Minister Abbas Araghchi had said Tehran was entering negotiations with “deep distrust” after strikes on Iran during previous rounds of talks. Araghchi, part of Iran’s delegation in Pakistan, said Saturday that his country was prepared to retaliate if attacked again.

Iran and the United States outlined competing proposals ahead of the talks.

Iran’s 10-point proposal called for a guaranteed end to the war and sought control over the Strait of Hormuz. It included ending fighting against Iran’s “regional allies,” explicitly calling for a halt to Israeli strikes on Hezbollah.

The United States’ 15-point proposal includes restricting Iran’s nuclear program and reopening the strait.

Israel and Lebanon will have direct negotiations

Negotiations between Israel and Lebanon are expected to begin Tuesday in Washington, Lebanese President Joseph Aoun’s office said Friday, after Israel’s surprise announcement authorizing talks despite the countries lack of official relations.

Israel wants the Lebanese government to assume responsibility for disarming Hezbollah, much like was envisaged in a November 2024 ceasefire. But it is unclear whether Lebanon’s army can confiscate weapons from the militant group, which has survived efforts to curb its strength for decades.

Israel’s insistence that the ceasefire in Iran does not include a pause in its fighting with Hezbollah has threatened to sink the deal. The militant group joined the war in support of Iran in the opening days. Israel followed up with airstrikes and a ground invasion.

The day the Iran ceasefire deal was announced, Israel pounded Beirut with airstrikes, killing more than 300 people in the deadliest day in Lebanon since the war began, according to the country’s Health Ministry.

Energy pressures grow

The spot price of Brent crude, the international standard for oil prices, was above $94 on Saturday, up more than 30% since the war started.

And new pressures emerged in Europe for travelers.

The head of Airports Council International-Europe, Olivier Jankovec, warned the European Union that a ″systemic jet fuel shortage’’ could come within three weeks because of the blockage of the Strait of Hormuz.

Jankovec said in a letter obtained by the Associated Press that the crunch could impact the summer travel season and ″significantly harm the European economy.’′

Ahmed, Metz, Castillo and Magdy write for the Associated Press. Metz reported from Jerusalem, Castillo from Beijing and Magdy from Cairo. Associated Press writer Josh Boak contributed to this report.

AUGUSTA, Ga. — Among the many rules at Augusta National — no cell phones, no booing, no lying in the grass — patrons are not allowed to run.

Somebody tell Rory McIlroy.

The defending Masters champion was sprinting away from the field Friday, building a six-shot lead heading into the weekend and putting himself in prime position to become the first repeat winner since Tiger Woods in 2002.

McIlroy atoned for two bogeys with nine birdies, shooting a seven-under-par 65 to improve on his stellar 67 in the opening round.

At 12 under, he now holds the largest 36-hole lead in Masters history.

“When I was standing on the 12th tee, I didn’t imagine that I would be six ahead going into the weekend,” said McIlroy, who birdied six of the final seven holes despite hitting into the trees on holes 13, 15 and 17.

“I’ve always had the ability to go on these runs … but it’s staying aggressive. My little mantra today was keep swinging, and keep swinging hard at it.”

And he completed that masterpiece in the afternoon, when the legendary course was even firmer and more slippery than it was in the morning. The warm weather and cloudless skies set the stage for a test of surgical precision in the final two rounds.

“These greens are going to be concrete,” said Wyndham Clark, who followed an even-par round with a four-under 68. “Obviously getting really fast without the wind, so it’s going to really matter hitting it in the fairway and the angles, and being patient.”

Rory McIlroy walks across Nelson Bridge with his caddy during the second round at the Masters.

(Eric Gay / Associated Press)

Fifty-four competitors from 15 different countries made the cut from a starting field of 91.

Of his jaw-dropping finishing scramble, McIlroy said: “The only way I can describe it is everything that you see or any situation that you come across, you can find a positive in it. And then you see birdies and you can see ways to make birdies. Hit it in the trees at 13, fine, I can make a birdie doing it this way. Hit it in the trees at 15, same thing.”

Whereas McIlroy created separation, Tyrrell Hatton made a case for inclusion. He was two over after Thursday but played himself back into contention with a 66 on Friday, hitting all 18 greens in regulation and becoming just the third player in 30 years to do that at the Masters. He is tied for seventh with Clark.

Patrick Reed, who shot a 69 in the first round, matched that in the second to claim a share of second place with Sam Burns.

Reed, who left for LIV Golf but announced in January he plans to return to the PGA Tour, played golf locally at Augusta State University and won this tournament in 2018. He said that Masters experience helps in a big way now.

Of winning a green jacket, he said, “Until you do, you always have that little voice of doubt in the back of your mind.”

Justin Rose, who lost to McIlroy in a sudden-death playoff last year, is in a three-way tie for fourth with Shane Lowry and Tommy Fleetwood.

Patrick Reed hits off the 18th tee during the second round of the Masters on Friday.

(Jared C. Tilton / Getty Images)

Asked if his near-miss in 2025 serves as extra motivation this year, Rose said: “Not really, if I’m honest. I don’t really need to try any harder, know what I mean? Trying harder ain’t going to help me.”

It was a rough day for Scottie Scheffler, ranked No. 1 in the world, as his 74 put him 12 shots back of McIlroy.

Bryson DeChambeau was on the bubble all day before a triple-bogey seven on the 18th hole. He missed the cut six over.

Two-time Masters winner Bubba Watson missed the cut, as did 66-year-old Fred Couples, who was playing well Thursday until taking a quadruple-bogey nine on the 15th hole.

McIlroy played with 18-year-old amateur Mason Howell, who was sufficiently impressed as the defending champion birdied each of the final four holes.

“You’ve got to stay in your own lane, but it’s hard not to watch that,” Howell said. “That chip-in on 17 was unreal. That was one of the coolest things I’ve seen in sports, and I got to witness it in person, so that was awesome.”

WASHINGTON — President Trump said Monday that the United States and Iran are at a “critical point” in negotiating a potential ceasefire agreement, but the chances of reaching a deal by a Trump-imposed deadline on Tuesday evening appeared uncertain.

In a lengthy news briefing at the White House, the president echoed an expletive-laden Easter Sunday warning to strike Iran’s vital infrastructure if Tehran does not agree to open the Strait of Hormuz by 5 p.m. PDT on Tuesday.

“The entire country can be taken out in one night and that night might be tomorrow night,” Trump told reporters.

Mediators from Egypt, Pakistan and Turkey sent the United States and Iran a draft proposal of the 45-day ceasefire on Friday, the Associated Press reported. Its prospects seemed dim amid the president’s threats and a lukewarm response from Iranian leaders, who dismissed the president’s diplomatic overtures as “unrealistic” and denying direct talks with the United States.

Iranian Foreign Ministry spokesman Esmail Baghaei rejected the latest ceasefire proposal, saying Monday that the American demands were “both highly excessive and unusual, as well as illogical.”

Still, Trump continued to assert that Iranian leadership has been negotiating in good faith. He characterized newly installed leaders as an improvement over their predecessors.

“The people that we are negotiating with now on behalf of Iran are much more reasonable,” he said Monday.

Trump declined to comment further on the ceasefire proposal at the news conference, but told reporters that Iran is negotiating ahead of his Tuesday deadline.

“I can tell you they’re negotiating, we think in good faith,” Trump said. “We are going to find out.”

The president did not say whom the United States is negotiating with, but said the most difficult challenge so far has been establishing a reliable channel of communicating with Iranian officials who he said have “no method of communicating.”

Trump also declined to say whether he was prepared to offer Iran assurances to wind down the conflict, or whether he would escalate by following through with his threats to bomb critical Iranian infrastructure, leaving the door open to both diplomacy and military action.

“I can’t tell you — it depends on what they do. This is a critical period,” he said,

Central to the negotiations is Iran’s control of the Strait of Hormuz, a choke point that, if left blockaded, could continue driving oil prices higher and further destabilizing global energy markets.

Trump, in characteristically unorthodox fashion, floated the possibility of the United States seizing operational control of the waterway and charging tolls for passage, a proposal that he provided without much detail.

“Why shouldn’t we?” Trump said. “We have a concept where we’ll charge tolls.”

He also mused openly about seizing Iranian oil, as he has in recent social media posts in which he floated the idea of using the war to claim Iranian energy resources. He acknowledged public pressure was holding him back from that course.

“Unfortunately the American people would like to see us come home,” he said. “If it were up to me, I’d take the oil, keep the oil and make plenty of money.”

In addition to reopening the Strait of Hormuz, Washington is also demanding the permanent decommissioning of Iranian nuclear sites and an end to its uranium enrichment programs. The proposal also requires Iran to halt support for regional proxies and accept strict ballistic missile limits.

In exchange, the United States says it will provide sanctions relief and assistance with civilian energy production, according to media reports.

Speaking at the White House Easter Egg Roll earlier Monday, Trump showed no signs of softening his posture to bring “hell” to Iran if a deal doesn’t materialize.

“We are obliterating their country. And I hate to do it, but we are obliterating. And they just don’t want to say uncle. … And if they don’t, then they’ll have no bridges, they’ll have no power plants, they’ll have nothing,” he said, adding ominously that “there are other things that are worse than those two.”

Iran has warned of “more severe and expansive” retaliations if Trump follows through on the threats.

Also at Monday’s briefing, Trump celebrated the dramatic rescue of the American officer whose fighter jet was downed by Iran last week. He told reporters the operation to retrieve the wounded officer from “one of the toughest areas in Iran” was possible with a mix of “talent” and “luck.”

The president, however, was angered that a news outlet, which he did not name, reported that the weapons system officer had gone missing and was stranded behind enemy lines. Trump vowed to root out the source of that information, including by threatening to jail the journalist who broke the story.

“We have to find that leaker because that is a sick person,” Trump said. “We are going to find out, it is national security. The person who did the story will go to jail if he doesn’t say.”

Also Monday, Israel struck Iran’s largest petrochemical facility in Asaluyeh and killed Gen. Majid Khademi, the head of the Islamic Revolutionary Guard Corps’ intelligence organization.

The Israeli military also hit three Iranian airports, purportedly targeting dozens of helicopters and aircraft it said belonged to the Iranian air force.

Iran responded with missile strikes targeting Haifa, Israel, and energy infrastructure in Kuwait and Bahrain.

Scotland’s Robert MacIntyre maintained his strong form with a round of 64 for a four-shot halfway lead at the Texas Open in San Antonio.

MacIntyre had four birdies in his last five holes with his playing partner and Ryder Cup team-mate Ludwig Aberg of Sweden his nearest challenger.

Starting on the back nine, the world number 11 put down a marker with an eight-foot eagle putt at the par-five 14th and followed that up with birdies at his next two holes.

The only blemish for the 29-year-old was a bogey at the 17th before he regrouped to finish with a flourish for a confidence boost ahead of the Masters which begins in Augusta on Thursday.

“I’ve been driving the ball nice,” said the Scot. “I’ve got a new driver in the bag. Iron play today was exceptional I would say.

“I hit a pure wedge shot on 17, I thought it was absolutely dynamite there. Approach play, hitting the number, hitting the targets. Got to finish off with good putting. Overall, just really solid.

“I didn’t play here last year, just went straight into Augusta. This was an adjustment for that reason. I wanted to be sharp – or sharper – going into Augusta.”

Aberg had four birdies over his first 14 holes before an eagle at the sixth, but he finished with a bogey.

“For me, golf is about putting yourself in situations where you can win tournaments,” he said.

“I feel like I haven’t really done that very well the last 12 months or so, but starting to see it now, which has been really nice. Starting to get back into that level, which is really nice for me to see. So I’m looking forward to one more shot at it this week.”

Among those one shot back are six-time PGA Tour winner Tony Finau who is chasing a first win since April 2023 and who needs a win to be invited to the Masters.

The 36-year-old American finished his round strongly with an eagle putt at the 18th.

“It was nice to make an eagle on the last,” he said. “I hit a really good drive, pushed my second shot a little, got lucky, covered the water and was able to roll that one in. Sometimes those are the small little breaks that you need to be towards the top of the leaderboard.”

WASHINGTON — Vice President JD Vance on Friday held the inaugural meeting of a new anti-fraud task force he’s leading as the Trump administration seeks to show it’s cracking down on potential misuse of social programs.

Vance, speaking Friday before the task force held a closed-door meeting, said that the federal government for decades had not taken the issue of fraud seriously and that it needed to be tackled with “a whole-government approach.”

“This is not just the theft of the American people’s money,” Vance said. “It is also the theft of critical services that the American people rely on.”

President Trump, a Republican, has made a crackdown on fraud part of his chief domestic focus as voters have said they’re concerned about affordability ahead of November’s midterm elections. That effort comes after allegations of fraud involving day-care centers run by Somali residents in Minneapolis prompted a massive immigration crackdown in the Midwestern city, resulting in widespread protests.

Vance cited some of the Minnesota allegations on Friday. Last month, he held a news conference to announce a temporary halt of some Medicaid funding until the state took actions that federal officials said would address their concerns.

Minnesota Gov. Tim Walz, a Democrat who faced Vance as a vice presidential candidate in 2024, has called it a “campaign of retribution” and said the Trump administration was “weaponizing the entirety of the federal government to punish blue states like Minnesota.”

The task force is also the most visible assignment to date that Trump has given to Vance, who is seen as a potential 2028 presidential candidate.

Vance and the task force, which includes about half the president’s Cabinet, the leader of a new Justice Department division focused on prosecuting fraud and Federal Trade Commission Chair Andrew Ferguson, are set to meet regularly to look at rooting out potential fraud and waste in federal benefit programs.

Ferguson, who is vice chair of the task force, cast the issue of fraud as a dire crisis facing the country and said it “shreds the social trust on which these programs and our entire nation depend.”

“This fraud crisis is thus existential,” he said. “If we fail to address it, the fabric of our nation will swiftly unravel.”

Joining the task force was Colin McDonald, a top aide to the Justice Department’s second in command. He was recently confirmed as the assistant attorney general overseeing the new division at the department focused on prosecuting fraud.

The Justice Department has long prosecuted fraud nationally through its Criminal Division, but the Trump administration says the new division is needed to crack down on rampant fraud.

Price writes for the Associated Press.

As the United States-Israeli war on Iran rages on, schools across Israel have been closed, cultural venues shuttered and large gatherings cancelled under police orders.

Dissent against the war, if there is much at all, has little chance of being aired.

A few demonstrations against the war, such as those staged by the Israeli-Arab activist group Zazim, still flicker through central cities, but they do so under heavy supervision, with officers warning crowds to disperse when sirens sound or when assemblies grow beyond what commanders deem safe.

The effect is a public sphere constrained less by decree than by the constant threat hanging overhead.

“Kids aren’t going to school, while employers are insisting their parents go to work,” Zazim’s co-founder and executive director, Raluca Ganea, says. Everyone is too overwhelmed by the daily grind to voice any dissatisfaction, she adds.

“We’re enduring multiple missile attacks daily, which means people aren’t sleeping. It’s like a manual for tyrants. It’s how you suppress protest or opposition and it’s working so far,” she added.

“We’ve attempted a couple of protests, but people are just too tired to engage,” Ganea says of Zazim’s efforts to resist the war. “It’s not so much that people are telling you that you can’t so much as protesting becomes impossible when a missile attack could happen at any time.”

Support for the war on Iran has remained strong in Israel, a fact borne out by polls. But as exhaustion grows and resentment builds over having their fates decided by often distant leaders such as Israeli Prime Minister Benjamin Netanyahu and US President Donald Trump, who have shown little investment in their welfare, the societal fractures that came to define the war on Gaza are almost inevitable, she warns.

“It’s depressing,” she says. “The only response people have is to feel helpless when their fate is in the hands of people like Trump and Netanyahu, who really don’t care about them.”

Those who have put their heads above the parapet to object openly to the war are shunned anyway, as 19-year-old Itamar Greenberg knows only too well. People spit at him in the street.

“It comes in waves,” he says of the criticism he faces for his opposition to the war on Iran on the streets of his hometown, near Tel Aviv. “Sometimes they follow me, shouting ‘traitor’ or ‘terrorist’.”

Itamar is clear enough that he isn’t a terrorist, though he seems ready to accept the label of traitor if it means halting the war on Iran.

“At my university, everywhere, they say my opposition to the war on Iran is somehow crossing a red line. For instance, because of the [danger to the Israeli] hostages, some people could understand opposition to the genocide on Gaza, but opposing the war on Iran, the great evil, is somehow too much,” he says.

Rising censorship

Across Israel, journalists and activists like Itamar describe a pervasive atmosphere of self-policing and censorship that, they say, has left people less informed about the consequences of the war than the citizens in Iran, whom many in their media encourage them to pity.

In a country largely unified against a threat that, for generations, politicians have told them is existential, criticism, dissent or opposition is, for the majority, beyond the pale.

This way of thinking is baked into Israeli society. The systems employed by the country’s military censor today to curtail media reporting predate the establishment of Israel in 1948.

Furthermore, new wartime restrictions on what can and cannot be broadcast of the Iranian missile barrages targeting Israel, where they land and what damage they have done – introduced on March 5 – mean these largely go entirely unreported, Israeli journalists say.

Reporting on the new media restrictions in mid-March, the Israeli magazine +972 documented one instance when journalists were permitted to report on debris that had hit an educational facility, but did not mention the actual strike by an Iranian missile, which had successfully hit its intended target nearby. Nor were they allowed to examine the site.

In another case reported by +972, journalists photographing damage to a residential block said they were approached by a man they believed to be linked to a security agency. He asked police to stop reporters from recording the real target of the attack, which was located behind them. The police officer replied that the journalists would not have noticed that site at all had it not been pointed out, since the visible destruction was concentrated on the civilian building.

The censorship, which had been growing more relaxed in recent years, had been tightened once more during the current war, Meron Rapoport, an editor at +972’s sister paper, Hebrew language Local Call, told Al Jazeera, “We don’t really know what is being or with what explosives,” he said, “The IDF [Israeli army] announcements always refer to strikes being on ‘uninhabited areas,’ which is peculiar, because there aren’t that many uninhabited areas in Tel Aviv. It’s a very compact city.”

Indeed, Iran has launched multiple missiles at Tel Aviv, some of which have resulted in damage and injuries – either by the missiles themselves or by debris falling following interception. Most recently, on Tuesday, missiles triggered air raid sirens in the city, where gaping holes were ripped through a multistorey apartment building.

Israel’s Magen David Adom emergency medical service said: “Six people were lightly injured at four different sites.”

“It’s curious,” Rapoport says. “Israeli commentators are always saying how the Iranian public has no real idea how badly they’re being hit. The irony is that they probably have a better idea of how hard Israel is being hit than most Israelis.”

March 18 (UPI) — The Federal Reserve announced that it is leaving its benchmark interest rate untouched Wednesday in its first Federal Open Market Committee statement since the start of the war with Iran.

The Fed’s benchmark interest rate remains at a 3.5% and 3.75% range as the committee held on to its projection of at least one rate cut coming this year.

“Available indicators suggest that economic activity has been expanding at a solid pace,” the FOMC statement said. “Job gains have remained low and the unemployment rate has been little changed in recent months. Inflation remains somewhat elevated.”

As for the war in Iran, the statement said its impact on the U.S. economy is “uncertain.”

The Fed continues to pursue monetary policies it believes will bring the rate of inflation down to 2%. In its statement it said it is “committed to supporting maximum employment,” in pursuit of its target.

Economic reports that inform the Fed’s decision have indicated pressures from inflation remain and economic growth has slowed.

Wednesday’s announcement comes on the heels of a producer price index report earlier in the day that showed the largest increase to the index for final demand goods since August 2023.

Last week, the U.S. Bureau of Labor Statistics reported that nonfarm payrolls fell by 92,000 in February. The unemployment rate increased to 4.4%.

These reports have economists and traders cooling on the potential for interest rate cuts. Eugenio Aleman, chief economist at Raymond James, said in a statement that the wholesale inflation report on Wednesday, “likely reinforces a hold decision.”

Data from the producer price index report predates the beginning of the war with Iran.

Iran’s foreign minister is pushing back after the killings of top officials Ali Larijani and Basij commander Gholamreza Soleimani. Abbas Araghchi says the Islamic Republic is built to withstand shocks, insisting that no single figure, no matter how powerful, can destabilise the system.

Vietnamese elect members of parliament from a list of candidates ⁠almost exclusively fielded by the governing party.

Voters in Vietnam are casting their ballots for members of the National Assembly, the country’s top legislative body, which serves mainly to ratify decisions by the governing Communist Party.

Nearly 93 percent of the 864 parliamentary candidates in Sunday’s election are Communist Party members, while 7.5 percent are independents, according to the national election council, down from 8.5 percent in 2021.

The five-yearly elections in the tightly controlled one-party state will see more than 73 million voters elect 500 members of the National Assembly and representatives for local councils.

The Communist Party, which has ruled the Southeast Asian nation of 100 million people unopposed for decades, holds 97 percent of the parliamentary seats.

Voters expressed hope their representatives would continue modernising Vietnam, whose booming economy is undergoing major reforms introduced by top leader To Lam.

Red-and-yellow banners fluttered from lampposts and traffic lights in the capital, Hanoi, where well-dressed senior citizens were some of the first to vote.

“I do expect top leaders after this election will make major changes to make our country better,” Nguyen Thi Kim, 73, told the AFP news agency at a polling station set up in a community room of a high-rise residential block in Hanoi.

But in a country where major policies and projects are decided by senior cadres, many citizens feel lukewarm about elections. “I don’t think who wins will have any impact on my life,” said a woman, who gave her name as Huyen, in Hanoi.

Most polling stations are scheduled to close at 7pm (12:00 GMT), with results expected on March 23, parliament Chairman Tran Thanh Man told local media.

The opening plenary session of the National Assembly is scheduled for early April, when ⁠lawmakers are expected to approve the state’s top leaders previously nominated by the party, including the president and the prime minister.

The party confirmed Lam as its general secretary, Vietnam’s most powerful position, during ⁠its five-yearly congress in January, when it also selected the 19 members of ⁠the Politburo, its top decision-making body.

After voting on Sunday morning in Hanoi, Lam said on live television that the election aimed “to choose the most prestigious people to continue leading the country to more development”.

First-time voter Nguyen Kim Chi, 18, said she cast her ballot in the capital for “all the young” candidates.

“I know top positions are already set,” she added, “but I still hope my votes count.”