THE INTERVIEW| Court Ruling Curbs Power, But Price Relief Unlikely

A Supreme Court decision narrowing presidential tariff authority has not brought the price relief many hoped for. Economist Dr. Rebecca Homkes, faculty at Duke Corporate Executive Education and lecturer at London Business School, tells Hilary Golston tariffs have added only modestly to inflation but most of the costs have already been absorbed across supply chains, not reversed. While the ruling reins in one executive tool, the administration is turning to other statutes to maintain tariffs, keeping legal uncertainty and market volatility high. Homkes warns the Federal Reserve is likely to hold rates steady as inflation remains elevated and the labor market weakens, describing an economy that may not meet the technical definition of recession but increasingly feels like one for American consumers.