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The Supreme Court's recent ruling against tariffs imposed under the International Emergency Economic Powers Act has significant economic implications. With potential refunds amounting to $130 billion and a reduction in average tariff rates, businesses and consumers may experience shifts in pricing and economic activity. However, the ruling also raises questions about future tariff policies under alternative legal frameworks.
President Trump has announced plans to impose a 15% global tariff, escalating tensions after the Supreme Court ruled against his use of emergency powers for tariffs. This decision underscores the ongoing conflict between executive authority and congressional powers over trade policies.
Following a recent Supreme Court ruling against President Trump's tariffs under the International Emergency Economic Powers Act, several key implications emerge. These include the potential financial impact on government revenue, the burden on US businesses, and the administration's next steps in tariff policy.
Minutes from the Federal Reserve's January meeting reveal that officials are open to further interest rate cuts if inflation decreases. However, some members caution against premature cuts, emphasizing the need for clear signs of inflation stabilizing at the Fed's 2% target.
SEC Chair Paul Atkins has expressed a vision for the US to become the 'crypto capital of the world' during a recent House hearing. This statement has drawn criticism from Democrats who accuse him of undermining trust in the SEC amid ongoing investigations into cryptocurrency firms linked to President Trump.