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Bostic: Must consider rate hikes if inflation were to move up
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Feb 20, 2026 8:26am
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*TRUMPS GLOBAL TARIFFS STRUCK DOWN BY US SUPREME COURT
Supreme Court of the United States: Learning Resources, Inc. v. Trump, President of the United States The question presented is whether the International Emergency Economic Powers Act (IEEPA) authorizes the President to impose tariffs. See 91 Stat. 1626. Shortly after taking office, President Trump sought to address two foreign threats: the influx of illegal drugs from Canada, Mexico, and China, Presidential Proclamation No. 10886, 90 Fed. Reg. 8327; Exec. Order No. 14193, 90 Fed. Reg. 9113; Exec. Order No. 14194, 90 Fed. Reg. 9117; Exec. Order No. 14195, 90 Fed. Reg. 9121, and large and persistent trade deficits, Exec. Order No. 14257, 90 Fed. Reg. 15041. The President determined that the drug influx had created a public health crisis, 90 Fed. Reg. 9113, and that the trade deficits had led to the hollowing out of the American manufacturing base and undermined critical supply chains, id., at 15041. The President declared a national emergency as to both threats, deeming them unusual and extraordinary, and invoked his authority under IEEPA to respond. He imposed tariffs to deal with each threat. As to the drug trafficking tariffs, the Pre *SUPREME COURT RULES 6-3 AGAINST TRUMP ON TARIFFS Supreme Court does not address eligibility for tariff refunds.
TRUMP: 10% GLOBAL TARIFF TO BE IMPOSED ON TOP OF OTHER TARIFFS TRUMP: EFFECTIVE NOW, ALL NATIONAL SECURITY TARIFFS UNDER SECTION 301 REMAIN IN PLACE Trump: There is no need to ask Congress for additional action. Trump threatens 15% to 30% auto tariffs. TRUMP, ASKED IF U.S. HAS TO REFUND TARIFF REVENUE, SAYS I GUESS IT HAS TO BE LITIGATED
TRUMP SAYS SCOTUS RULING A "DISGRACE" - CNN TRUMP SAYS HE HAS BACKUP PLAN FOR TARIFFS AFTER RULING: CNN News: President Trump commented on the Supreme Court ruling striking down his tariffs while inside the White House breakfast with governors this morning, calling it a "disgrace," I'm told. He told those gathered that he has a backup plan.