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Archive
Every file we have published, newest first.
25 filesLast filed 15 OCT
The IEEPA refund ledger: $126 billion out, the hard cases left
Eight months after the Supreme Court voided the IEEPA tariffs, CBP has sent most of the money to Treasury for payment. What remains is smaller, older and tied up in court.
December 11: Congress bought time past the midterms. Now what?
The government runs on a 72-day stopgap that expires December 11. None of the 12 spending bills is law, the Senate has not reported one, and a lame-duck Congress will decide what happens next.
After Trump v. Cook, the White House tries again with a hearing
The Supreme Court voided Lisa Cook's 2025 firing because she got no hearing. Now a White House committee will give her one on Nov. 5. What the ruling settled, what it left open, and what comes next.
FDIC merger rewrite: five-day approvals and credit unions in the math
The FDIC wants to replace its merger policy statement with a binding rule: deemed approval for small deals, hard processing clocks, and a competition screen that counts credit unions. Comments are due Nov. 23.
Map of the tariff wall: every active US tariff and the law behind it
After the Supreme Court took IEEPA off the table, the administration rebuilt its tariffs on four older statutes. A new CRS fact sheet shows what stands where as of Sept. 30.
The $2 trillion year: what drove the FY2026 deficit
CBO's final monthly review puts the FY2026 deficit at $2.0 trillion, $218 billion above last year. Revenue grew, but interest, benefits and tariff refunds grew faster.
Reading the dots: what the Fed’s 4.1% rate path does and doesn’t promise
The September projections imply one more hike this year and no cuts in 2027. An explainer on how the dot plot works, what moved since June, and why the median is not a commitment.
Two commissioners and 200,000 letters: the 10-Q’s fate rests on a quorum
The SEC's proposal to let public companies swap three 10-Qs for one semiannual Form 10-S drew a record comment file. With Hester Peirce gone, two Republicans now decide whether it becomes final.
Solar wafers, kitchen cabinets, drone parts: the tariff hikes already dated
Three Section 232 actions signed months ago switch on between December and February. None needs another decision from Washington, and one already restricts imports today.
A third court tells the CFPB to ask the Fed for its money
A federal judge in Oregon ruled that the Fed's "combined earnings" means revenue, not profit. The legal theory for starving the CFPB is now 0 for 3, and the fight moves to Congress.
Trump Accounts hit 60 million kids, but the $1,000 must be claimed
Treasury says every eligible child now has a Trump Account. The catch: a parent has to claim it before anyone can contribute, and before the $1,000 federal seed for children born 2025 to 2028 is paid.
Basel rewritten: the Fed’s lighter capital rules are due by year-end
The stress test overhaul is final. Bowman says the Basel III rewrite and a lower GSIB surcharge will follow before the end of 2026. Here is what the March proposals would cut, and who objects.
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