Axios

Iran-backed militias in the region have been sending money back to the Islamic Revolutionary Guard Corps to relieve the economic pressure it's under after nine months of war, U.S. CENTCOM Commander Adm. Brad Cooper said Friday.

Why it matters: While the U.S. military has been preparing for a possible resumption of major combat operations against Iran, the Trump administration continues to put immense pressure on the regime with its naval blockade and severe sanctions.

An October shooting by federal immigration officers in New York City has led to a head-turning show of unity from House Democratic Leader Hakeem Jeffries and Mayor Zohran Mamdani.

Why it matters: This unlikely collaboration between leaders of Democrats' competing establishment and progressive wings shows how opposing Trump-era immigration enforcement has become an area of party consensus.

Federal Reserve chairman Kevin Warsh said Friday that the economy has largely performed as expected since September's rate hike, hinting that little has changed in the central bank's outlook.

Why it matters: The Fed is weighing another interest rate increase later this month as inflation heats up and the economy remains strong.