Money, Wealth & Power—A Daily Look at the Financial World
U.S. Trade Representative Jamieson Greer said Republican lawmakers who once questioned the administration’s use of tariffs have “now come around” to supporting its trade agenda, after a Supreme Court ruling struck down the use of the International Emergency Economic Powers Act (IEEPA) for trade levies. Greer cast the decision as a legal setback rather than…
Old Line Brewers, LLC, the company behind Baltimore’s The Brewer’s Art, has filed a Chapter 7 voluntary bankruptcy petition in the U.S. Bankruptcy Court for the District of Maryland, a move that typically leads to liquidation rather than a business restart. Court records indicate the filing has been docketed, placing the roughly 30-year-old brand on…
The U.S. Supreme Court struck down Donald Trump’s sweeping tariffs imposed under the International Emergency Economic Powers Act on February 20, 2026, declaring them illegal. Yet American importers who paid those duties for nearly a year are no closer to getting their money back. The ruling left the question of refunds entirely unresolved, and a…
The Supreme Court struck down most of President Trump’s tariffs on February 20, 2026, and within hours, American businesses began scrambling to recover billions of dollars in duties they had paid over the past year. The ruling invalidated tariffs imposed under the International Emergency Economic Powers Act (IEEPA), but it left one critical question unanswered:…
House Minority Leader Hakeem Jeffries, a Democrat from New York, said in a Fox News interview on February 22, 2026, that “out-of-control” costs in housing, groceries, healthcare and other household categories are fueling an affordability crisis that neither political party has resolved. His remarks follow a series of public appearances in which Jeffries has tried…
Federal employment data suggests Texas may be closing the gap with New York in finance-sector jobs, a shift that challenges Wall Street’s long-held dominance over American financial services. The finding, drawn from the Bureau of Labor Statistics’ near-census employment counts, arrives as Texas aggressively builds new market infrastructure and courts institutional capital. For workers, firms,…
Economist Peter Schiff, who built his reputation on warning about the 2008 housing collapse before it happened, is now arguing that the United States faces a fiscal crisis that could exceed the severity of that downturn. His case rests on a combination of ballooning federal debt, rising interest payments that now rival defense spending, and…
Gold prices crashed more than $1,000 per ounce from their record highs at the start of 2026, punishing investors who had piled into the metal as an inflation hedge. The sell-off, triggered by shifting Federal Reserve expectations and exchange-level margin hikes, has forced a reckoning over how retail investors hold gold and whether their chosen…
Home Depot and TJX Companies are set to report quarterly earnings that will test two competing forces shaping the retail sector: tariff-driven cost pressures on imported goods and tax-related financial benefits that could lift bottom-line results. The reports arrive as choppy U.S. housing demand and shifting trade policy create an uneven operating environment for retailers…
E. & J. Gallo Winery is shutting down a major Napa Valley production facility and cutting dozens of jobs across five California locations, a move that strips away positions tied to some of the state’s most recognized wine labels. The closure of the 70-acre Ranch Winery in St. Helena, which Gallo purchased in 2015, eliminates…
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