The January Producer Price Index landed with a predictable media spin: “hotter than expected” and therefore proof that tariffs, Trump, and the so-called “new protectionism” are reigniting inflation. That narrative collapses under even modest scrutiny…
I went to federal prison for contempt of Congress. My detractors say I acted above the law. My supporters say I’m the poster child for a weaponized justice system. I won’t relitigate that here. What matters is what I…
The latest Conference Board Consumer Confidence report points to an important inflection point: consumer expectations are starting to align with improving economic fundamentals. With inflation running below what many households still anticipate and growth remaining…
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…