In Trump 2.0, most tariffs were imposed under IEEPA. With the Supreme Court perceived to be on the verge of ruling the tariffs unconstitutional, it’s of interest to see what the implications would be.
From X today:
Reported hits the September USDA Economic Research Service forecast. Figure 1 displays the food-at-home component of the CPI, along with ERS forecasts:
Responses to DoJ probe: An event study.
GDPNow for Q4 at 5.1% is considerably higher than Goldman Sachs at 3.1%, and St. Louis Fed at essentially zero.
From Bloomberg:
From CES, CPS, QCEW, Philly Fed, and from ADP:
The graph says it all.