Trump Primed to Clash With Fed After Key Rate Decision

The legal profession is divided between firms suing President Trump over executive orders that could impact their representation abilities, with Jenner & Block and WilmerHale fighting back while Paul Weiss and Skadden make deals with the president. Some firms, like Perkins Coie, are pushing against the orders, leading to temporary restraining orders against retaliation. Critics question the legality and ethics of firms making deals to appease Mr. Trump, while others praise those standing up against...

The City of Fort Worth, Texas, is ending its contract with Synagro, a provider of fertilizer made from sewage sludge, due to concerns over "forever chemicals" contaminating local farmland and groundwater. Fort Worth has also sued manufacturers of the chemicals, known as PFAS, alleging water supply contamination. Synagro denies responsibility and faces a criminal investigation, while Fort Worth is working on new biosolids contracts. Full Article

Wall Street stocks fell on Friday amid concerns of stagflation as data revealed consumer strain due to Trump's tariffs, with the University of Michigan reporting a sharp decline in consumer sentiment and a rise in long-term inflation expectations. Consumer spending rose less than expected, prompting Goldman Sachs to lower its GDP forecast for the first quarter, while the Atlanta Fed revised its estimate to show a contraction. The Fed's PCE price index indicated inflation above...

Chancellor Rachel Reeves faces a £23 billion downgrade in capital gains tax revenues over the next five years, attributed to changes in taxation of carried interest and investor behavior shifts due to tax hikes. Despite the revision, CGT receipts are expected to nearly double by 2029/30, leading to concerns about potential future tax hikes to cover borrowing costs and spending requirements. Economists predict Reeves may need to consider measures such as tightening inheritance tax rules...

Meta CEO Mark Zuckerberg announced the launch of the Facebook Friends tab, allowing users to view friend-related content instead of recommended content, reminiscent of the original Facebook experience. The Friends tab can be accessed through the navigation bar and customized to prioritize friend updates. While some criticize the move as "too little too late," others are intrigued to see if this change will reengage users with Facebook's more intimate content. Full Article

In February, Americans seeking relief from inflation faced disappointment as underlying price pressures intensified, with the Personal Consumption Expenditures price index rising 2.8 percent year-over-year. Overall inflation reached 2.5 percent, above the Federal Reserve's target, complicating interest rate decisions amid escalating trade tensions and economic uncertainty. Consumer confidence has plummeted, with expectations of higher inflation and lower growth prompting the Fed to hold rates steady and anticipate further cuts this year. Full Article