After the Supreme Court, tariffs will be high, but markets will think they are low. Trump wins.
Donald L. Luskin
On the June Jobs Report
Thursday, July 3, 2025
A surge in government hiring masks a miss and the third month of immigration in reverse.
Stocks at New Highs as Trump Turns the Fed – and Our Hot Take on This Morning’s Supreme Court Ruling
Friday, June 27, 2025
The case against the tariffs will proceed. Meanwhile, dovishness is breaking out all over.
On the June FOMC
Wednesday, June 18, 2025
The hallucinations continue. Inflation has collapsed, but the Fed sees more of it.
Israel and Iran: Is the Fix In?
Monday, June 16, 2025
If this is a swap of Ukraine for Iran, it could stabilize the Middle East potentially forever.
Chinese Water Torture on Trade
Wednesday, June 11, 2025
Tariffs are toast, but they’re still cooking in the courts. So no deals from China or anyone else.
On the May Jobs Report: Immigration in Reverse while the Fed Hallucinates
Friday, June 6, 2025
There is weakness under this seeming “beat.” But can the Fed let itself see it?
Is Economics a Science? What Would Einstein Say?
Wednesday, June 4, 2025
‘The whole of science is nothing more than a refinement of everyday thinking.’
On the Administrative Stay against Trump’s Tariff Ruling
Thursday, May 29, 2025
The tariffs are gone. No, now they’re back. At least for a couple weeks.
You Heard It Here First: Court Strikes Down Trump's Tariffs
Wednesday, May 28, 2025
His own appointee voted against him, as will all three at the Supreme Court. The worst is over.