Money, Wealth & Power—A Daily Look at the Financial World
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:…
Governor Gavin Newsom is facing pointed questions about why California has become the most expensive state in the country, according to federal price data, even as the state has spent tens of billions of dollars on housing and homelessness programs that state auditors say lack consistent outcome tracking. The pressure comes as utility costs climb,…
President Trump imposed a temporary global import surcharge after the Supreme Court struck down his broader tariff program on February 20, 2026, shifting the legal basis for trade barriers to a rarely used statute. The move started at 10% and was later raised to 15%, forcing many American businesses to recalculate costs on a wide…
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…
Nvidia has announced Project DIGITS, a compact desk-side system powered by the new GB10 Grace Blackwell Superchip that delivers 1 petaflop of AI performance in FP4 precision and can run models with up to 200 billion parameters. Starting at $3,000 with availability beginning in May, the system represents Nvidia’s most aggressive push yet to bring…
Verizon appears to have carved out a path around New York’s new state-level cybersecurity rules for regulated utilities, even as the Public Service Commission moves to impose what it calls mandatory, minimum, enforceable standards on the sector. The telecom giant filed comments in the PSC’s active rulemaking docket alongside the industry group USTelecom, and the…
British manufacturers are paying nearly twice as much for electricity as their French competitors, according to a joint report from the Confederation of British Industry and Energy UK that directly blames the cost gap on policies tied to the country’s net zero transition. The findings land as output in the UK’s energy-intensive industries has fallen…