We had a ruling yesterday that the IEEEA (similar) didn't give Trump the sweeping tariff powers he wanted due to his pretext of an emergency where there isn't one. Crossing my fingers that somehow we can blunt the hand of Trump and save ourselves from too deep a stagflation and somehow keep his hands off the Fed.

SNIP The Fed Forecasts Stagflation
Officials say a ‘cautious approach’ will help navigate the risks of higher inflation and weaker growth

Federal Reserve officials signaled concern at their meeting earlier this month that large tariff hikes would push up prices and could risk stoking higher inflation.
Policymakers largely agreed that heightened economic uncertainty and increased risks of both higher unemployment and inflation warranted no change in their wait-and-see policy stance, according to minutes of the May 6-7 meeting released Wednesday.
“Participants agreed that uncertainty about the economic outlook had increased further, making it appropriate to take a cautious approach until the net economic effects of the array of changes to government policies become clearer,” said the minutes.
Between officials’ most recent meetings in mid-March and early May, President Trump ratcheted up tariffs on most U.S. trading partners before suspending some of the most aggressive hikes. The minutes released Wednesday provided a written account of how officials were digesting those initial moves. SNIP

Hope this makes it over to Berkshire, etc., so I can read all the opinions. Maybe Albaby can acquaint us with probable outcomes of that ruling.


https://archive.is/ofgx1