Every so often, what looks like a defeat proves to be a strategic win. The Supreme Court’s ruling on US President Donald Trump’s tariffs is one of those moments.On its face, the ruling looks like…
The markets got a twin dose of macro indicators today—GDP growth and PCE inflation—and, almost on cue, much of the commentary missed the signal for the noise. Start with growth. Real GDP in 2025:Q4 came in at…
Washington is headed toward a constitutional collision over who controls America’s elections.Congress is stalling voter verification reforms. Federal judges are blocking executive enforcement directives, and the Justice Department is under partisan attack for attempting to…
This week’s residential construction report — with housing starts beating expectations and single-family starts rising again — signals that Trump’s policy shift is beginning to unwind the housing distortions of the Biden era. Housing inflation was…
A lazy, surface-level media habitually conflates the statutory duty of a private citizen to comply with a congressional subpoena with the constitutional duty of a senior White House adviser to resist one that implicates executive…
Headline consumer prices rose just 0.17 percent for the month, pulling year-over-year inflation down to 2.4 percent. Core inflation came in contained at 0.30 percent for January and 2.5 percent over the past year. For…
House and Senate Democrats are trying to turn two tragic federal shootings in Minneapolis into cause célèbres to shackle, slash and ultimately break the budgetary back of ICE. But let’s not pretend this political firestorm is about…
January’s above-estimates jobs report tells two very different stories. One is about the Trump month. The other is about the Biden inheritance. Start with the month. The U.S. economy added 130,000 nonfarm jobs in January, nearly double…
In your editorial “Are Trump’s Tariffs Winning?” (Review & Outlook, Feb. 5), you claim that President Trump’s tariffs “raise relative prices” and that prices on many goods “would be lower” without them. These assertions rest…
As the Trump economy begins to boom even as inflation moderates, Democrats and the anti-Trump media are desperate for a spin that might discredit Trumponomics.Their latest Hail Mary: pushing a counterfactual narrative that President Trump’s…