Money, Wealth & Power—A Daily Look at the Financial World
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:…
Chicago’s downtown office market closed 2025 with a vacancy rate of 26.6%, a figure that reflects not just empty floors but a widening fiscal crisis for the city’s homeowners. As commercial property values crater across the Loop, Cook County has begun resetting assessments on hundreds of buildings, and the resulting tax burden is shifting squarely…
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,…
Governor Gavin Newsom signed a bipartisan package of bills reforming California’s insurer of last resort on October 9, 2025, the latest in a string of state actions aimed at reversing a home insurance crisis that has left hundreds of thousands of homeowners dependent on a strained backup plan or no coverage at all. The reforms…
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…
The IRS enforces a set of overlapping deadlines that determine how far back it can review a tax return, assess additional tax, and pursue collection. Most taxpayers assume the agency has only three years to act, but specific exceptions can stretch that window to six years, ten years, or eliminate it entirely. With the IRS…
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…
Rihanna, Jessica Alba, and Ryan Reynolds each turned personal interests into standalone companies that grew well beyond typical celebrity endorsements. Their ventures in cosmetics, consumer goods, and spirits generated hundreds of millions of dollars in revenue or acquisition value, offering a practical blueprint for anyone looking to convert a side project into a primary career….
Personal finance personality Dave Ramsey recently pushed back on the idea that babies are “too expensive” and argued that waiting to be wealthy before starting a family is “absolutely asinine,” according to coverage from Benzinga. His comments arrive as U.S. birth rates continue to slide and younger Americans report planning smaller families than any recent…