Legal & Policy Landscape - The Supreme Court is hearing arguments on the legality of President Trump's tariffs, focusing on whether they fall under executive power or require congressional approval [1][2] - The core legal question revolves around the interpretation of the statute authorizing tariffs and whether it violates the non-delegation clause of the Constitution [5][6] - A key point of contention is whether tariffs are considered taxes, which would fall under congressional authority [13] - The administration might explore alternative legal avenues, such as a 1974 law capping tariffs at 15% for 150 days, if the current tariffs are struck down [15] Economic Impact & Market Reaction - Since the implementation of these policies, the estimated tariff revenue is $174 billion, impacting American companies that pay the cost of importing goods [9] - Businesses have been absorbing these costs or passing them on to consumers, creating uncertainty in the market [9] - Wall Street is closely monitoring the Supreme Court case, with traders analyzing legal arguments to anticipate the economic consequences [7][8] - The market reacted to commentary suggesting the Supreme Court might limit the president's authority to impose tariffs [14]

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 ...

strongest presumption of validity. >> I I just don't understand this argument. Um it's not an article. It's a congressional power, not a presidential power to tax.And you want to say tariffs are not taxes, but that's exactly what they are. The generating money from American citizens, revenue. And you say it's incidental to the regulatory purpose, but I don't see how a quota is equivalent to revenue raising.A quota sets a limit to what you can import in, but it doesn't generate revenue. I I I I don't underst ...

Listen to live audio as the Supreme Court hears oral arguments in a case over whether the President Trump has the authority to issue sweeping tariffs under a law reserved for use during times of emergency. For more context and news coverage of the most important stories of our day, click here: https://www.nbcnews.com » Subscribe to NBC News: http://nbcnews.to/SubscribeToNBC » Watch more NBC video: http://bit.ly/MoreNBCNews NBC News Digital is a collection of innovative and powerful news brands that deliver ...

[Music] Hello and welcome to Morning Brief Market Sunrise. I'm Raman Carmali live from Yahoo Finance Studios in London. It's Wednesday, 5th November.Coming up on the show, global stocks continue to slide after Wall Street's tech selloff. The current government shutdown is now the longest on record. And New York has a new mayor.>> This is not only how we stop Trump, it's how we stop the next one. So, Donald Trump, since I know you're watching, I have four words for you. Turn the volume up.[Music] Well, the f ...

What would happen if the Supreme Court struck down Donald Trump’s tariffs? Devastation, he says. In private, though, the administration is more relaxed, for it has other options https://t.co/dDuNx0Ss36 ...