President Donald Trump said it would be “devastating for our country” if the Supreme Court struck down his administration’s sweeping global tariffs https://t.co/LOZS1AEHzF ...

Supreme Court Hearing on Tariffs - The Supreme Court is hearing arguments regarding the legality of blanket tariffs imposed by the Trump administration [12] - The court's decision on the tariffs is expected to be made by the end of the year or early next year [9] - The core legal question is whether the president has the power to impose tariffs without congressional approval [22] Impact on Businesses - Small businesses are particularly vulnerable to the effects of tariffs, with some facing tariff increases as high as 100% [12][15] - Some small businesses are struggling to absorb the costs of tariffs and may be forced to raise prices for consumers [18][20] - If the tariffs are upheld, there is a risk of increased closures and bankruptcies among small businesses [23] Financial Implications - The government has collected $195 billion in revenue through tariffs this year through September [12] - Approximately half of the $195 billion in tariffs collected were imposed under the contested presidential authority [17] - The Trump administration argues that the tens of billions of dollars in monthly tariff revenue are incidental to the overall agenda [3]

Joining us now, former US attorney and MSNBC legal analyst Chuck Rosenberg, senior correspondent at Vox, Ian Milheiser, and non-resident fellow at the Carnegie Endowment for International Peace and senior director of international economics during the Biden administration, Peter Harrell. Um, all right, Chuck, were they skeptical. >> They seemed skeptical.Um, I'm not surprised because what the government was asking for here, um, was broad. They were asking for uh authority essentially to levy taxes. As Justi ...

Joining us now, Democratic Attorney General of Arizona, Chris Mays, and Democratic Attorney General of Oregon, Dan Rayfield. They are co-leading the lawsuit filed by 12 states against the Trump administration. Um, all right.Um, let's start uh with Arizona. Um, how has this affected the state. Kitty, you know, it has impacted the state of Arizona dramatically.And that is why Dan and I and multiple other uh AGs, Democratic AGs, brought this tariffs case to try to slay this dragon that is tariffs, that is real ...

President Trump's signature economic policy is taking center stage at the Supreme Court today. The future of his tariffs hangs in the balance. Justices heard oral arguments on the case today.At issue is a legal question around the limits of executive power. The court is deciding whether the president has the authority to impose sweeping tariffs on imports under a law that's meant to apply to national emergencies. Eight small businesses sued the Trump administration, arguing these tariffs hurt their bottom l ...

Aean Jabber is live at the Supreme Court. Aean, am I right. Or live in our bureau.Am I right. I mean, we're going back to the 1970s to try to figure this out. >> Yeah, absolutely.There's a lot of invocation of Richard Nixon. Those uh those uh arguments of the Supreme Court just wrapped a short time ago. I just got back from the Supreme Court here to our bureau.And I got to tell you, Brian, the one thing that raised my eyebrows was the degree of skepticism that you heard from some of these conservative justi ...

Here are five key takeaways from the hearing Wednesday at the US Supreme Court over the legality of tariffs imposed by President Donald Trump https://t.co/slybhoQ5pH ...

Labor Market Analysis - Private sector job growth swung positive in October to 42,000 from negative 29,000, with larger companies contributing more than midsize and smaller companies [1] - Alternative data, like that from ADP, suggests pre-existing trends in the labor market are continuing at a similar rate, with modest job creation and moderating wages [3] - Labor demand may not be as strong as desired from a cyclical perspective, indicating rates could be lower [4] - Changes to job creation levels due to policy changes like immigration are considered output gap neutral, as additional people both work and consume [6][7][8] - Low levels of growth may result from changing border policy, but monetary policy doesn't automatically respond to this [9][10] Monetary Policy Considerations - Monetary policy aims to balance supply and demand, avoiding both inflation and deflation [7] - Expansionary supply-side policies, like full expensing provisions from the tax bill, incentivize investment in new factory equipment and structures, pushing demand higher in the short run and expanding the supply side in the longer run [12][13][14] - Regulations shape the structure of the economy by influencing production possibilities and industry composition [15] - Monetary policy responds to the output gap, the outlook for inflation, and changes in the neutral rate [18] - An increase in national savings typically leads to lower interest rates [23] Inflation and Interest Rates - One perspective is that current policy is too restrictive, and a faster move to a neutral rate is preferred to avoid undue harm to the job market [25][26][28] - Tariffs are not viewed as a significant driver of inflation, and shelter/housing market inflation is expected to decrease more quickly than some colleagues anticipate [27][28] - High interest rates may already be causing a recession in parts of the economy, particularly housing [30] - The median projection from the September meeting suggested a third rate cut this year, implying a cut in December [35] - Core services inflation, when adjusted for imputed services like portfolio management fees, is closer to 2%, specifically 23%-24% [39][46] - Shelter disinflation is a critical factor in the inflation outlook, with expectations of benign shelter inflation due to market rents running at approximately 1% [47][49] Trade and Economic Uncertainty - Increased uncertainty over the tariff and trade environment could negatively impact the economy [21] - A ruling against the president's authority to issue tariffs could increase uncertainty, potentially pressuring growth and hiring [20][21]

Justice Gorsuch >> General, just a few questions following up on the major questions discussions you've had. Um, you say that uh we shouldn't be so concerned in the area of foreign affairs because of the president's inherent powers. That's the gist of it as I understand it.Why we should disregard both major questions and non-delegation. So, could Congress delegate to the president the power to regulate commerce with foreign nations as he sees fit. delay and collect duties as he sees fit.>> We we don't uh we ...

US Supreme Court justices questioned President Donald Trump’s global tariffs, as arguments began in a case that could undercut his signature economic policy. Listen to that and the latest stories on Bloomberg News Now. https://t.co/hJzDDExkiP ...