SPDR Dow Jones Industrial Average ETF

SPDR S&P 500 ETF Trust

Invesco QQQ Trust Series 1

Novo Nordisk A/S is a global healthcare company, which engages in the discovery, development, manufacturing and marketing of pharmaceutical products. It operates through the Diabetes and Obesity Care and Rare Disease segments. The Diabetes and Obesity Care segment includes diabetes, obesity, cardiovascular, and emerging therapy areas. The Rare Disease segment refers to rare blood disorders, rare endocrine disorders, and hormone replacement therapy. The company was founded by Harald Pedersen and Thorvald Pedersen in 1923 is headquartered in Bagsværd, Denmark.

Novo Nordisk - ADR

Novo Nordisk A/S

Novo Nordisk is currently trending as rival Hims & Hers has halted its compounded weight-loss pill following legal action from NVO and increased FDA scrutiny on such alternatives, reinforcing NVO's market leadership. The community is actively discussing the implications of this development alongside Novo's promising oral Wegovy launch momentum and ongoing share buyback program.

Moonlake Immunotherapeutics operates as a clinical-stage biotechnology company. It offers tri-specific Nanobody, Sonelokimab to address significant unmet needs in inflammatory skin and joint diseases. The company was founded by Kristian Reich, Jorge Santos da Silva, and Arnout Ploos van Amstel in 2021 and is headquartered in Zug, Switzerland.

MoonLake Immunotherapeutics - Ordinary Shares - Class A

MoonLake Immunotherapeutics

MoonLake Immunotherapeutics is trending after reporting highly positive Phase 2 S-OLARIS trial results for sonelokimab in axial spondyloarthritis, showcasing strong efficacy and potential disease-modifying effects. This, combined with a robust financial position and an eagerly awaited Investor Day, is fueling community discussion around significant undervaluation, a potential short squeeze, and best-in-class potential for its nanobody platform.

SSgA Active Trust - State Street SPDR S&P 500 ETF Trust

SPY is trending amid renewed uncertainty surrounding global trade policy, driven by recent tariff decisions that have sparked market volatility. The community is sharply divided, with bears anticipating a major downturn following weekend declines, while bulls expect a typical 'V-shape' recovery, particularly ahead of key tech earnings this week.

Vanda Pharmaceuticals, Inc. engages in the development and commercialization of therapies for high unmet medical needs. The firm intends to treat schizophrenia, jet lag disorder, atopic dermatitis, central nervous system disorders, and circadian rhythm sleep disorder. Its product portfolio includes HETLIOZ, Fanapt, NEREUS, Ponvory, and HETLIOZAccess. The company was founded by Mihael Hristos Polymeropoulos and Argeris N. Karabelas in 2002 and is headquartered in Washington, DC.

Vanda Pharmaceuticals Inc

Vanda Pharmaceuticals is trending as the community eagerly discusses the recent FDA approval of Bysanti for bipolar I disorder and schizophrenia, with many anticipating a significant valuation re-rating and potential for a short squeeze, especially given the drug's patent protection until 2044 and the broader 'mega blockbuster' potential of its pipeline.

Invesco Capital Management LLC - Invesco QQQ Trust Series 1

QQQ trends as the market grapples with the fallout from the Supreme Court's tariff ruling and the subsequent 15% global tariffs, fueling community debate on economic uncertainty and the tech index's consistent resilience ahead of Nvidia's pivotal earnings.

Viking Therapeutics, Inc. is a clinical-stage biopharmaceutical company, which engages in the development of therapies for metabolic and endocrine disorders. The company was founded by Brian Lian and Michael A. Dinerman on September 24, 2012 and is headquartered in San Diego, CA.

Viking Therapeutics Inc

Viking Therapeutics is trending as Novo Nordisk's recent CagriSema trial results fuel intense community speculation that VKTX's 'best-in-class' VK2735 obesity drug is now an even more attractive buyout or partnership target for major pharmaceutical companies like AbbVie, given its strong efficacy and tolerability in the rapidly expanding weight loss market.

NIO, Inc. is a holding company which engages in the design, manufacture, and sale of electric vehicles. Its products include the EP9 supercar and ES8 7-seater SUV. It provides users with home charging, power express valet services, and other power solutions including access to public charging, access to power mobile charging trucks, and battery swapping. It also offers other value-added services such as service package, battery payment arrangement, and vehicle financing and license plate registration. The company was founded by Bin Li and Li Hong Qin on November 28, 2014 and is headquartered in Jiading, China.

NIO Inc - ADR

NIO Inc

NIO is trending due to its succession of record-breaking battery swaps, including hitting 1 million weekly swaps during the Chinese New Year holiday, which bulls highlight as proof of its BaaS ecosystem's strength and a precursor to anticipated profitability. However, the community remains divided, with skeptics dismissing holiday-inflated numbers and alleging continued stock manipulation, while broader discussions also focus on the potential impact of recent tariff rulings.

Root, Inc. is a technology insurance company, which engages in the provision of insurance services. It offers mobile telematics and technology platforms to segment individual risk based on complex behavioral data and customer experience to make pricing decisions and grow businesses. It provides insurance products and services in the United States. The company was founded by Alexander E. Timm and Daniel Manges in February 2015 and is headquartered in Columbus, OH.

Root Inc - Ordinary Shares - Class A

Root Inc

Root Inc. is trending as investors eagerly anticipate its upcoming earnings report, driving significant community speculation around a potential buyout and a short squeeze due to high short interest. Discussions are also focused on recent partnership announcements and institutional buying, with many comparing its current valuation to peers in the insurtech sector.

Alphabet, Inc. is a holding company, which engages in software, health care, transportation, and other technologies. It operates through the following segments: Google Services, Google Cloud, and Other Bets. The Google Services segment includes products and services, such as ads, Android, Chrome, devices, Google Maps, Google Play, Search, and YouTube. The Google Cloud segment refers to infrastructure and platform services, collaboration tools, and other services for enterprise customers. The Other Bets segment relates to the sale of healthcare-related services and internet services. The company was founded by Lawrence E. Page and Sergey Mikhaylovich Brin on October 2, 2015 and is headquartered in Mountain View, CA.

Alphabet Inc - Ordinary Shares - Class C

Alphabet is trending amid reports of its aggressive AI chip expansion to rival Nvidia and the launch of its advanced Gemini 3.1 Pro AI model. The community is actively discussing the company's substantial CapEx and recent bond sale, debating whether these signal a visionary long-term investment in AI infrastructure or raise immediate valuation concerns.

BioCryst Pharmaceuticals, Inc. is a biotechnology company. It engages in the provision of structure-guided drug design with the goal of developing oral small-molecule and protein therapeutics to target difficult-to-treat rare diseases. The company was founded by William M. Spencer III, Charles E. Bugg, and John A. Montgomery in 1986 and is headquartered in Durham, NC.

Biocryst Pharmaceuticals Inc.

BioCryst Pharmaceuticals is trending as investors await its earnings report and upcoming presentations of positive Navenibart trial data, a recently acquired long-acting HAE prophylactic. This is fueling community debate between optimism driven by institutional interest and persistent concerns over significant short positions.

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<ul class="summary-bullets"><li>Trump said that the new baseline 10% tariff rate would go into effect in the next three days.</li><li>He added that at least three statutes, including Section 122 of the Trade Act of 1974, and The Trade Expansion Act &nbsp;1962, would permit him to charge higher tariffs.</li><li>Earlier on Friday, the U.S. Supreme Court ruled against Trump’s tariffs in a 6-3 decision, saying that the president exceeded his authority to use the emergency-powers law.&nbsp;</li></ul>U.S. President Donald Trump said on Friday that he would levy a 10% tariff globally after the U.S. Supreme Court struck down his previous import duties.In a press briefing at The White House, the president called the ruling “deeply disappointing,” adding that he was “ashamed of certain members of the court” for not having the courage to do what’s right for the United States.Earlier on Friday, the U.S. Supreme Court <a href="https://stocktwits.com/news-articles/markets/equity/trump-tariffs-struck-down-by-supreme-court-in-a-6-3-decision/cZRNJbRR4xK">ruled</a> against Trump’s tariffs in a 6-3 decision, saying that the president exceeded his authority to use the emergency-powers law.Trump said that the new baseline 10% tariff rate would go into effect in the next three days.<h2 class="st-heading-2">The Statutes</h2>“In order to protect our country, a president can actually charge more tariffs than I was charging in the past,” Trump said.He added that at least three statutes, including Section 122 of the Trade Act of 1974, and The Trade Expansion Act &nbsp;1962, would permit him to charge higher tariffs.The president said his tariff program is aimed not only at bringing manufacturing back to the country, but also at serving as a tool of foreign policy. He argued that the threat of tariffs has helped pressure other nations to ease armed conflicts and said negotiations over levies have drawn billions of dollars in planned foreign investment into the country.In his opening remarks, Trump said that this was an important case for him as a “symbol of economic national security.” He also added that after the ruling, foreign countries “that have been ripping us off for years are ecstatic,” but warned that the celebration would not go on for too long.In response to the court’s lack of clarity on how to refund the tariffs collected, Trump said, “We’ll end up being in court for the next five years.”The president also thanked Justice Clarence Thomas, Justice Samuel Alito, and Justice Brett Kavanaugh, who dissented in the vote, adding that there was no way to argue against their case.<h2 class="st-heading-2">Market Reaction</h2>U.S. equities responded positively to the Supreme Court’s decision to strike down global tariffs, edging higher after the ruling.At the time of writing, the <a href="https://stocktwits.com/symbol/SPY">SPDR S&amp;P 500 ETF</a> (SPY), which tracks the S&amp;P 500 index, was up by 0.58%, the <a href="https://stocktwits.com/symbol/QQQ">Invesco QQQ Trust ETF</a> (QQQ) climbed 0.74%, while the <a href="https://stocktwits.com/symbol/DIA">SPDR Dow Jones Industrial Average ETF Trust</a> (DIA) was 0.33% higher.Retail sentiment around the S&amp;P 500 ETF on Stocktwits was in the ‘bearish’ territory.The <a href="https://stocktwits.com/symbol/IEF">iShares 7-10 Year Treasury Bond ETF</a> (IEF) was down 0.05% at the time of writing, while the <a href="https://stocktwits.com/symbol/TLT">iShares 20+ Year Treasury Bond ETF</a> (TLT) was down by 0.27%.For updates and corrections, email newsroom[at]stocktwits[dot]com.Also Read: <a href="https://stocktwits.com/news-articles/markets/equity/harvard-professor-blames-longest-govt-shutdown-for-lower-than-expected-q4-gdp-growth/cZRNhtaR4xA">Harvard Professor Blames Longest Govt. Shutdown For Lower-Than-Expected Q4 GDP Growth</a> &nbsp;

US President Donald Trump shows economic data charts in the Oval Office of the White House on August 7, 2025. 

Trump Slaps 10% Global Tariff After Supreme Court Ruling That He Called ‘Deeply Disappointing’

In a press briefing, Trump said that he is “ashamed of certain members of the court” for not having the courage to do what’s right for the United States. 

Equity

<ul class="summary-bullets"><li>The Supreme Court ruled against Trump tariffs on Friday in a 6-3 verdict, saying that the President exceeded his authority by invoking an emergency-powers law.</li><li>However, the court did not specify the extent to which importers were entitled to refunds.</li><li>Ross Gerber, CEO and President of Gerber Kawasaki, said that U.S. companies paid tariffs and they should get their money back.</li></ul>The Trump administration can replicate most of the tariffs struck down by the U.S. Supreme Court, analysts at Goldman Sachs reportedly stated in a recent note.According to a&nbsp;<a class="st-link-external" target="_blank" rel="noopener noreferrer nofollow" href="https://x.com/zerohedge/status/2024875578495533066">post</a> by Zerohedge citing a note from the firm, the Supreme Court ruling will not be the end of President Donald Trump’s tariffs.“This won’t be the end of tariffs… the administration will almost certainly roll out alternative legal frameworks. Net result is probably slightly fewer tariffs, materially more trade uncertainty, and some incremental deficit concerns,” Goldman Sachs said.The firm noted that using Section 122 to impose 10% to 15% tariffs on most countries would allow the Trump administration to replicate most of the tariffs imposed under the International Emergency Economic Powers Act (IEEPA), even as Section 301 investigations for unfair trade practices are currently underway.<figure class="image"><img src="https://news.stocktwits-cdn.com/Zerohedge_post_jpg_0d96e64957.webp" alt="Zerohedge's post on X" width="587" height="417"><figcaption>Zerohedge's post on X | @zerohedge/X</figcaption></figure>The Supreme Court&nbsp;<a href="https://stocktwits.com/news-articles/markets/equity/trump-tariffs-struck-down-by-supreme-court-in-a-6-3-decision/cZRNJbRR4xK">ruled against</a> Trump tariffs on Friday in a 6-3 verdict, saying that the President exceeded his authority by invoking an emergency-powers law. However, the court did not specify the extent to which importers were entitled to refunds.<h2 class="st-heading-2">Experts React To Supreme Court Ruling Against Trump Tariffs</h2>Ross Gerber, CEO and President of Gerber Kawasaki, said that U.S. companies paid tariffs, and they should get their money back.“Huge win for US consumers and businesses against a failed ignorant policy,” he said in a&nbsp;<a class="st-link-external" target="_blank" rel="noopener noreferrer nofollow" href="https://x.com/GerberKawasaki/status/2024880699204071851">post</a> on X. In another&nbsp;<a class="st-link-external" target="_blank" rel="noopener noreferrer nofollow" href="https://x.com/GerberKawasaki/status/2024876272678277402">post</a>, Gerber called tariffs a “stupid policy.”<figure class="image"><img src="https://news.stocktwits-cdn.com/Gerber_post_jpg_118e77daa1.webp" alt="Ross Gerber's post on X" width="582" height="142"><figcaption>Ross Gerber's post on X | @GerberKawasaki/X</figcaption></figure>Dan Ives, Global Head of Tech Research at Wedbush,&nbsp;<a class="st-link-external" target="_blank" rel="noopener noreferrer nofollow" href="https://x.com/DivesTech/status/2024871712127394066">said</a> that the tariff ruling will be a net positive for the technology sector and the AI trade.“We believe this would act as a net positive for tech with financial relief for many companies while creating greater supply chain visibility,” he added.<figure class="image"><img src="https://news.stocktwits-cdn.com/Ives_post_jpg_512eae901d.webp" alt="Dan Ives' post on X" width="577" height="201"><figcaption>Dan Ives' post on X | @divestech/X</figcaption></figure>Mohamed El-Erian, Chief Economic Advisor at Allianz, said in a&nbsp;<a class="st-link-external" target="_blank" rel="noopener noreferrer nofollow" href="https://x.com/elerianm/status/2024866834982318189">post</a> on X that the “ball is now in the administration’s court,” especially with respect to using alternative legal authorities to impose tariffs.<figure class="image"><img src="https://news.stocktwits-cdn.com/El_Erian_post_jpg_e0cafea2bd.webp" alt="Mohamed El-Erian's post on X" width="585" height="247"><figcaption>Mohamed El-Erian's post on X | @elerianm/X</figcaption></figure>Justin Wolfers, professor of economics and public policy at the Gerald R. Ford School of Public Policy at the University of Michigan, pointed out in a post on X that the Supreme Court did not state that the U.S. cannot impose tariffs, but that the Trump administration needs Congress’ assent.“The Court didn't say that the US can't issue tariffs, simply that the President has to convince (the Republican-controlled) Congress first. If tariffs are a great idea, that should be an easy argument to win,” he said.<figure class="image"><img src="https://news.stocktwits-cdn.com/Wolfers_post_jpg_2a5c9333a9.webp" alt="Justin Wolfers' post on X" width="585" height="230"><figcaption>Justin Wolfers' post on X | @JustinWolfers/X</figcaption></figure>Economist Peter Schiff&nbsp;<a class="st-link-external" target="_blank" rel="noopener noreferrer nofollow" href="https://x.com/PeterSchiff/status/2024868685668561384">said</a> that the Supreme Court “got it right” with the tariff ruling, adding that the levies are harming the U.S. economy.“But since the tariff revenue will now stop and past revenue must be returned, the already rising U.S. budget deficit will soar,” he said.<figure class="image"><img src="https://news.stocktwits-cdn.com/Schiff_post_jpg_f4093c5092.webp" alt="Peter Schiff's post on X" width="580" height="209"><figcaption>Peter Schiff's post on X | @PeterSchiff/X</figcaption></figure>Meanwhile, U.S. equities were mixed in Friday morning’s trade. At the time of writing, the&nbsp;<a href="https://stocktwits.com/symbol/SPY">SPDR S&amp;P 500 ETF</a> (SPY), which tracks the S&amp;P 500 index, was up by 0.05%, the&nbsp;<a href="https://stocktwits.com/symbol/QQQ">Invesco QQQ Trust ETF</a> (QQQ) rose 0.27%, while the&nbsp;<a href="https://stocktwits.com/symbol/DIA">SPDR Dow Jones Industrial Average ETF Trust</a> (DIA) declined 0.32%. Retail sentiment around the S&amp;P 500 ETF on Stocktwits was in the ‘neutral’ territory.The&nbsp;<a href="https://stocktwits.com/symbol/TLT">iShares 20+ Year Treasury Bond ETF</a> (TLT) was down by 0.34% at the time of writing, while the&nbsp;<a href="https://stocktwits.com/symbol/IEF">iShares 7-10 Year Treasury Bond ETF</a> (IEF) fell 0.07%.Also See:&nbsp;<a href="https://stocktwits.com/news-articles/markets/equity/trump-tariffs-struck-down-by-supreme-court-in-a-6-3-decision/cZRNJbRR4xK">Trump Tariffs Struck Down By Supreme Court In A 6-3 Decision, President Calls It A ‘Disgrace’: Report</a>For updates and corrections, email newsroom[at]stocktwits[dot]com.

 U.S. President Donald Trump participates in a meeting with fellow G7 leaders during a meeting at the G7 Leaders' Summit on June 16, 2025 in Kananaskis, Alberta. (Photo by Chip Somodevilla/Getty Images)

Trump Administration Can Replicate Most Of The Tariffs, Says Goldman Sachs Following Supreme Court Rebuke: Report

The firm reportedly said the Trump administration could use Section 122 to impose tariffs of 10% to 15% on most countries.

<ul class="summary-bullets"><li>According to a Bloomberg report, President Trump told reporters aboard Air Force One on Thursday that 10 to 15 days was “pretty much” the maximum amount of time he would give for negotiations for a nuclear deal with Iran.</li><li>Despite the burgeoning U.S. military buildup in the Middle East, bettors on Polymarket think that the odds of a strike on Iran over the next month are 50:50 at most.</li><li>During an address at a Board of Peace event on Thursday, President Trump said that the next 10 days will show whether the U.S.-Iran tussle escalates or a deal is struck.</li></ul>Prediction markets are buzzing with activity over the prospect of a U.S. strike on Iran after President Donald Trump&nbsp;gave the Middle Eastern country 10 to 15 days to strike a nuclear deal.According to a Bloomberg&nbsp;<a class="st-link-external" target="_blank" rel="noopener noreferrer nofollow" href="https://www.bloomberg.com/news/articles/2026-02-19/pentagon-amasses-mideast-force-as-trump-threatens-iran-on-talks?srnd=homepage-americas">report</a>, President Trump told reporters aboard Air Force One on Thursday that 10 to 15 days was “pretty much” the maximum amount of time he would give for negotiations for a nuclear deal with Iran.“We’re either going to get a deal, or it’s going to be unfortunate for them,” he added.Amid this, the U.S. military has deployed a vast array of forces in the Middle East, comprising fighter jets, refueling tankers, and two aircraft carriers, according to the report.<h2 class="st-heading-2">What Are Prediction Markets Indicating?</h2>Despite the burgeoning U.S. military buildup in the Middle East, bettors on Polymarket think that the odds of a strike on Iran over the next month are 50:50 at most.At the time of writing, the odds of a strike on Iran between February 20 and March 7 were in the range of 2% to 42%. March 15 is the first time these odds reach 50%. Thereafter, the odds continue to climb, reaching 76% by the end of the year.Bettors on Kalshi are pessimistic about the U.S. and Iran striking a nuclear deal, which would avert a strike.The odds of a deal being struck before April plummeted 39 percentage points over the past 24 hours, falling to 27%. The chances of a deal before August 2026 are even lower, at just 16%. Bettors are slightly more optimistic that the deal will be reached before 2027, at 48%.<figure class="image"><img src="https://news.stocktwits-cdn.com/Kalshi_Iran_jpg_9fb2274a96.webp" alt="Kalshi prediction market bets on U.S.-Iran nuclear deal on Feb. 20" width="897" height="451"><figcaption>Kalshi prediction market bets on U.S.-Iran nuclear deal on Feb. 20 | Kalshi</figcaption></figure>The total betting volumes on Polymarket regarding a U.S. strike on Iran stood at a staggering $323 million, while Kalshi users placed bets worth $189,000 about the odds of a nuclear deal.<h2 class="st-heading-2">Trump’s Warning To Iran</h2>During an address at a Board of Peace event on Thursday, President Trump said that the <a href="https://stocktwits.com/news-articles/markets/equity/trump-will-find-out-next-10-days-iran-step-futher-or-nuclear-deal/cZRkRUKR4Dd">next 10 days</a> will show whether the U.S.-Iran tussle escalates or a deal is struck.“Now we may have to take it a step further, or we may not. Maybe we're going to make a deal. You're going to be finding out over the next probably 10 days,” he said.Rafael Mariano Grossi, Director General of the International Atomic Energy Agency, also&nbsp;<a href="https://stocktwits.com/news-articles/markets/equity/iaea-chief-warns-iran-not-much-time-left-as-trump-warns-of-consequences/cZRjHiQR4wt">warned</a> on Thursday that the window for Iran to strike a nuclear deal is at risk of closing.“There is not much time, but we are working on something concrete. There are a couple of solutions the IAEA has proposed,” Grossi said.Meanwhile, U.S. equities were mixed in Friday’s pre-market trade. At the time of writing, the&nbsp;<a href="https://stocktwits.com/symbol/SPY">SPDR S&amp;P 500 ETF</a> (SPY), which tracks the S&amp;P 500 index, edged lower by 0.01%, the&nbsp;<a href="https://stocktwits.com/symbol/QQQ">Invesco QQQ Trust ETF</a> (QQQ) rose 0.03%, while the&nbsp;<a href="https://stocktwits.com/symbol/DIA">SPDR Dow Jones Industrial Average ETF Trust</a> (DIA) declined 0.07%. Retail sentiment around the S&amp;P 500 ETF on Stocktwits was in the ‘bearish’ territory.The&nbsp;<a href="https://stocktwits.com/symbol/TLT">iShares 20+ Year Treasury Bond ETF</a> (TLT) was up by 0.17% at the time of writing, while the&nbsp;<a href="https://stocktwits.com/symbol/IEF">iShares 7-10 Year Treasury Bond ETF</a> (IEF) rose 0.02%.Also See:&nbsp;<a href="https://stocktwits.com/news-articles/markets/equity/trump-will-find-out-next-10-days-iran-step-futher-or-nuclear-deal/cZRkRUKR4Dd">US-Iran Tensions: Trump Says Next 10 Days Will Show Whether United States Takes It A 'Step Further' Or Makes A Deal</a>For updates and corrections, email newsroom[at]stocktwits[dot]com.

U.S. President Donald Trump, pictured in the Oval Office, on September 25, 2025. (Photo by Andrew Harnik/Getty Images)

Will US Strike Iran Anytime Soon Given Trump's 10-Day Window For More Clarity? Here's What Bettors Think Amid The Military Build-Up In Middle East

The U.S. military has reportedly deployed a vast array of forces in the Middle East, comprising fighter jets, refueling tankers, and two aircraft carriers.

<ul class="summary-bullets"><li>At an event in Fargo, North Dakota, Kashkari reportedly said that the White House had made “multiple attempts to try to compromise the Fed’s independence” over the past year.</li><li>Kashkari responded to comments from the director of National Economic Council, Kevin Hassett, on the NY Fed’s paper, detailing the impact of tariffs on Americans.&nbsp;</li><li>Hassett said on Wednesday that the NY Fed’s paper was an embarrassment, adding the central bank’s economists missed key aspects of how the tariffs functioned.</li></ul>Minneapolis Fed president Neel Kashkari reportedly pushed back on the White House’s criticism of a study on tariffs that found it was harming Americans, adding that it was a step to compromise the central bank’s independence.According to a Financial Times <a class="st-link-external" target="_blank" rel="noopener noreferrer nofollow" href="https://www.ft.com/content/f203a846-3ff8-4eef-b378-277c3fc5813f">report</a>, Kashkari responded to comments from the director of the National Economic Council, Kevin Hassett, on the Federal Reserve Bank of New York’s paper that claimed almost 90% of the economic weight of President Donald Trump’s import tax was shouldered by Americans.Kashkari on Thursday called Hassett’s opinion on the <a href="https://stocktwits.com/news-articles/markets/equity/americans-bear-the-brunt-of-trump-tariffs-as-per-ny-fed-report/cZRTtkCR4rt">paper</a> and a suggestion to discipline the NY Fed economists as “just another step to try to compromise the Fed’s independence,” as per the report.<h2 class="st-heading-2">The Fed’s Approach</h2>At an event in Fargo, North Dakota, Kashkari reportedly said that the White House had made “multiple attempts to try to compromise the Fed’s independence” over the past year, including “when the Department of Justice served a subpoena to the board of governors over some building expenses. It’s really about monetary policy.”He added that Fed officials were trying to ignore the political turbulence and instead focus on their dual mandate of maximum employment and price stability.“As the noise grows louder, we hold even tighter to our mission and double down on staying focused,” he said.<h2 class="st-heading-2">What Did Hassett Say?</h2>Hassett said in an <a class="st-link-external" target="_blank" rel="noopener noreferrer nofollow" href="https://www.cnbc.com/2026/02/18/hassett-says-authors-of-new-york-fed-tariff-study-should-be-disciplined-worst-paper-ive-ever-seen.html">interview</a> with CNBC on Wednesday that the NY Fed’s paper was an embarrassment, calling it the “worst paper” in the history of the Federal Reserve system.The Trump official said the central bank’s economists missed key aspects of how the tariffs functioned and focused on the prices instead. Hassett claimed that the research did not fully reflect the positive impact on wages and other benefits to U.S. companies.Meanwhile, U.S. equities declined on Thursday. The <a href="https://stocktwits.com/symbol/SPY">SPDR S&amp;P 500 ETF</a> (SPY), which tracks the S&amp;P 500 index, fell 0.56% at the time of writing. The <a href="https://stocktwits.com/symbol/QQQ">Invesco QQQ Trust ETF </a>(QQQ) was down by 0.68%, while the <a href="https://stocktwits.com/symbol/DIA">SPDR Dow Jones Industrial Average ETF Trust</a> (DIA) dropped 0.69%.On Stocktwits, retail sentiment around the S&amp;P 500 ETF on Stocktwits was in the ‘bearish’ territory.The <a href="https://stocktwits.com/symbol/IEF">iShares 7-10 Year Treasury Bond ETF</a> (IEF) edged up by 0.02% at the time of writing, while the <a href="https://stocktwits.com/symbol/TLT">iShares 20+ Year Treasury Bond ETF </a>(TLT) was down by 0.09%.For updates and corrections, email newsroom[at]stocktwits[dot]com.Also Read: <a href="https://stocktwits.com/news-articles/markets/equity/trump-will-find-out-next-10-days-iran-step-futher-or-nuclear-deal/cZRkRUKR4Dd">US-Iran Tensions: Trump Says Next 10 Days Will Show Whether United States Takes It A 'Step Further' Or Makes A Deal</a>

Minneapolis Federal Reserve Bank President Neel Kashkari visits "Maria Bartiromo's Wall Street" at Fox Business Network Studios on October 11, 2019 in New York City. (Photo by Roy Rochlin/Getty Images)

Minneapolis Fed President Says White House Is Trying To Compromise The Central Bank’s Independence: Report

 According to a Financial Times report, Kashkari said on Thursday that the Fed was trying to ignore political turbulence and instead focus on its dual mandate of maximum employment and price stability.

 Minneapolis Fed President Says White House Is Trying To Compromise The Central Bank’s Independence: Report

According to a Financial Times report, Kashkari said on Thursday that the Fed was trying to ignore political turbulence and instead focus on its dual mandate of maximum employment and price stability.

<ul class="summary-bullets"><li>Trump said that the move would revitalize the American industrial base, create numerous jobs, and strengthen the country’s national and economic security.&nbsp;</li><li>In a separate statement on X, U.S. Commerce Secretary Howard Lutnick said that the Ohio natural gas generation facility is expected to generate 9.2 gigawatts of power. &nbsp;</li><li>Meanwhile, in the Gulf of America, the U.S. and Japan will build a deepwater crude oil export facility that is expected to generate $20 billion to $30 billion annually in crude exports.&nbsp;</li></ul>U.S. President Donald Trump on Tuesday announced that America’s ‘massive trade deal’ with Japan had officially launched.In a <a class="st-link-external" target="_blank" rel="noopener noreferrer nofollow" href="https://truthsocial.com/@realDonaldTrump/posts/116087827602935657">post</a> on Truth Social, Trump said Japan had begun its first round of investments under a $550 billion commitment to the United States, across three projects: oil and gas development in Texas, power generation in Ohio, and critical minerals in Georgia.Trump said that the move would revitalize the American industrial base, create numerous jobs, and strengthen the country’s national and economic security.“The scale of these projects are so large, and could not be done without one very special word, TARIFFS,” Trump said.<h2 class="st-heading-2">Deal Contours</h2>The announcement comes shortly after U.S. Commerce Secretary Howard Lutnick and Japanese Trade Minister Ryosei Akazawa met in Washington earlier this month to work out plans regarding Japan’s first tranche of investments in the U.S.In a separate <a class="st-link-external" target="_blank" rel="noopener noreferrer nofollow" href="https://x.com/CommerceGov/status/2023858503803122129">statement</a> on X, Lutnick provided details of the plan. The Commerce Secretary said that the Ohio project would be to develop the largest natural gas generation facility in the country, expected to generate 9.2 gigawatts of power. &nbsp;“We will strengthen grid reliability, expand baseload power, and support American manufacturing with affordable energy,” Lutnick said.In the Gulf of America, the two countries will build a deepwater crude oil export facility that is expected to generate $20 billion to $30 billion annually in U.S. crude exports, secure export capacity for American refineries, and reinforce the country’s position as the world’s leading energy supplier.Lutnick added that the critical minerals facility would create synthetic industrial diamond manufacturing capacity in the U.S. which will onshore production 100% of U.S. demand for synthetic diamond grit that would reduce America’s dependence on foreign supply for the critical input in advanced industrial and technological production.<h2 class="st-heading-2">America’s Win</h2>Lutnick said that the projects would deliver thousands of “high-quality” American jobs.“Japan is providing the capital. The infrastructure is being built in the United States. The proceeds are structured so Japan earns its return, and America gains strategic assets, expanded industrial capacity, and strengthened energy dominance. The future has never been brighter,” he added.&nbsp; “America is building again. America is producing again. And America is WINNING again,” Trump said in the Truth Social post, adding that the present was an exciting and historic time for the U.S.<figure class="image"><img src="https://news.stocktwits-cdn.com/Screenshot_2026_02_18_at_2_52_41_AM_png_b3302860d8.webp" alt="Screenshot 2026-02-18 at 2.52.41 AM.png" width="1059" height="1409"></figure>&nbsp;Meanwhile, U.S. equities were mixed on Tuesday’s close. The <a href="https://stocktwits.com/symbol/SPY">SPDR S&amp;P 500 ETF</a> (SPY), which tracks the S&amp;P 500 index, closed up 0.16%, the <a href="https://stocktwits.com/symbol/qqq">Invesco QQQ Trust ETF</a> (QQQ) declined 0.10% at market close, while the <a href="https://stocktwits.com/symbol/dia">SPDR Dow Jones Industrial Average ETF Trust</a> (DIA) ended the day 0.12% higher. The tech-heavy Nasdaq-100 declined 0.13% at the end of the trading session.On Stocktwits, retail sentiment around the S&amp;P 500 ETF was in the ‘bearish’ territory.The <a href="https://stocktwits.com/symbol/tlt">iShares 20+ Year Treasury Bond ETF</a> (TLT) was up by 0.17% at market close, while the <a href="https://stocktwits.com/symbol/ief">iShares 7-10 Year Treasury Bond ETF</a> (IEF) fell 0.01%.For updates and corrections, email newsroom[at]stocktwits[dot]com.Also Read: <a href="https://stocktwits.com/news-articles/markets/equity/fed-barr-signals-pause-on-rate-cuts-until-goods-inflation-eases-report/cZRWssSR4uC">Fed’s Barr Signals Pause On Rate Cuts Until Goods Inflation Clearly Eases: Report</a>

So far this year, SPY is up 13.4% and QQQ has gained 16%, while EWJ has climbed 22.2%, outperforming both. (Photo credit: Getty Images)

Trump Says $550 Billion Trade Deal With Japan Launched, Adds Tariffs Made It Possible

In a post on Truth Social, Trump said Japan had begun its first round of investments in the U.S. across projects in oil and gas development in Texas, power generation in Ohio, and critical minerals in Georgia.

<ul class="summary-bullets"><li>Barr said that he would like to see evidence that goods price inflation is sustainably retreating before considering reducing the policy rate further.</li><li>Barr noted that while the labor market had stabilized, it was still vulnerable to shocks even as hiring was in a “delicate balance.”</li><li>He also commented on the role of AI on the labor market, noting that AI adoption could also impact Fed policy decisions, while the boom would unlikely be a reason for lowering policy rates.</li></ul>Federal Reserve Governor Michael Barr reportedly sees it appropriate for the central bank to hold interest rates steady until there is further clarity on goods price inflation.According to a <a class="st-link-external" target="_blank" rel="noopener noreferrer nofollow" href="https://www.reuters.com/business/feds-barr-says-central-bank-likely-hold-some-time-it-watches-easing-inflation-2026-02-17/">report</a> from Reuters, Barr on Tuesday said in remarks prepared for a New York Association for Business Economics gathering that present data indicates it would be better to pause any changes to the key interest rates.“Based on current conditions and the data in hand, it will likely be appropriate to hold rates steady for some time as we assess incoming data, the evolving outlook, and the balance of risks,” Barr said, as per the report.On Wednesday, the Federal Reserve is expected to publish minutes from its January Federal Open Market Committee meeting, when it decided to keep rates steady at 3.50% - 3.75%.<h2 class="st-heading-2">Eyes On Data</h2>Barr said that it would be a “prudent course” for the country’s monetary policy to take the time necessary to assess economic conditions before further changes.“I would like to see evidence that goods price inflation is sustainably retreating before considering reducing the policy rate further, provided labor market conditions remain stable,” he reportedly said.The Fed governor reasoned that while tariff-driven pressures on inflation may ease, price pressures would remain a concern.“ I see the risk of persistent inflation above our 2% target as significant, which means we need to remain vigilant,” he said, according to the Reuters report.<h2 class="st-heading-2">AI's Impact On Jobs</h2>Barr noted that while the labor market had stabilized, it was still vulnerable to shocks even as hiring was in a “delicate balance.”He also commented on the role of artificial intelligence on the labor market, stating that while it did appear to be having some impact, it was not yet a big factor affecting employment levels.Barr said that AI adoption had resulted in reallocation within companies instead of large-scale layoffs. However, he warned that there was a need to be prepared for the possibility of “serious short-term disruptions in the labor market” although its long-term gains were likely to be quite favorable.He noted that AI adoption could also impact Fed policy decisions, adding that the AI boom would unlikely to be a reason for lowering policy rates.Meanwhile, U.S. equities were mixed in Tuesday’s opening trade. At the time of writing, the <a href="https://stocktwits.com/symbol/SPY">SPDR S&amp;P 500 ETF</a> (SPY), which tracks the S&amp;P 500 index, was up 0.01%, the <a href="https://stocktwits.com/symbol/QQQ">Invesco QQQ Trust ETF</a> (QQQ) declined 0.09%, while the <a href="https://stocktwits.com/symbol/DIA">SPDR Dow Jones Industrial Average ETF Trust</a> (DIA) rose 0.05%. The tech-heavy Nasdaq-100 declined 0.18%.On Stocktwits, retail sentiment around the S&amp;P 500 ETF was in the ‘bearish’ territory.The <a href="https://stocktwits.com/symbol/TLT">iShares 20+ Year Treasury Bond ETF</a> (TLT) was up by 0.13% at the time of writing, while the <a href="https://stocktwits.com/symbol/IEF">iShares 7-10 Year Treasury Bond ETF</a> (IEF) fell 0.05%.For updates and corrections, email newsroom[at]stocktwits[dot]com.Also Read: <a href="https://stocktwits.com/news-articles/markets/equity/alphaton-nvidia-blackwell-to-boost-ai-revenue-amid-share-sale/cZRWqfsR4uA">AlphaTON Deploys Nvidia Blackwell Chips To Boost AI Revenue Amid Share Sale Announcement</a>

Michael Barr testifies during a hearing before the House Financial Services Committee at Rayburn House Office Building on November 15, 2023 on Capitol Hill in Washington, DC. (Photo by Alex Wong/Getty Images)

Fed’s Barr Signals Pause On Rate Cuts Until Goods Inflation Clearly Eases: Report 

According to a Reuters report, Fed Governor Michael Barr said on Tuesday that based on current economic conditions and data in hand, it would likely be appropriate to hold rates steady for some time.

<ul class="summary-bullets"><li>A slew of macroeconomic data is scheduled to be released this week, including the Federal Reserve’s preferred inflation gauge, the Personal Consumption Expenditure index, and housing data for November and December.</li><li>The weekly ADP Employment Change report, scheduled to be out on Tuesday, will kick off this week’s macroeconomic data release.</li><li>Jobless claims and fourth-quarter GDP data are scheduled for release on Thursday and Friday, respectively.</li></ul>U.S. Treasury Yields edged lower on Tuesday as investors eyed the release of delayed economic data during the holiday-shortened week.The benchmark 10-Year Treasury yield fell three basis points to 4.029%, while the 30-Year yield declined two basis points to hover at 4.67%. The 2-Year Treasury yield declined one basis point to hover at 3.401% at the time of writing.<h2 class="st-heading-2">Slew Of Macroeconomic Data Set To Release This Week</h2>A slew of macroeconomic data is scheduled to be released this week, including the Federal Reserve’s preferred inflation gauge, the Personal Consumption Expenditure (PCE) index, and housing data for November and December.The weekly ADP Employment Change report, scheduled to be out on Tuesday, will kick off this week’s macroeconomic data release, along with the Empire Manufacturing Index and the NAHB Housing Market Index for February. The Conference Board’s Employment Trends Index for January is also slated for release on Tuesday.The Mortgage Bankers’ Association’s (MBA) 30-year mortgage rate data and the Federal Open Market Committee’s (FOMC) January meeting minutes are slated to be released on Wednesday.Jobless claims and fourth-quarter (Q4) GDP data will be out on Thursday and Friday, respectively.<h2 class="st-heading-2">Where Are Treasury Yields Headed?</h2>Following the softer-than-expected Consumer Price Index (CPI) print last week, yields for the 10-year note fell to a two-month low of 4.06%.Meanwhile, Schwab Center for Financial Research’s head of fixed income research and strategy, Collin Martins, does not see room for yields to fall much further, absent a sharp economic slowdown.“While inflation’s moving in the right direction, it’s still a bit elevated, and budget concerns and the rising trend in global bond yields should keep long-term Treasury yields elevated even as the Fed cuts rates later this year,” Martin said in a recent note.<h2 class="st-heading-2">Soft CPI Should Ease Fed Officials’ Concerns, Says Martin</h2>Martin added that the soft CPI print for January should ease concerns among Fed officials about sticky inflation.“This should be well received by those on the Fed worried about sticky inflation,” Martin said. He added that while this shouldn’t change the Fed’s monetary policy direction in the near term, more reports like this might bring more officials of the central bank on board for rate cuts.According to data from the Bureau of Labor Statistics (BLS), on a seasonally adjusted basis, <a href="https://stocktwits.com/news-articles/markets/equity/us-consumer-inflation-january-2026-cpi-report/cZR5t5IR4sz">CPI rose 0.2% in January</a>, after rising 0.3% in December. This puts the annual rate at 2.4% before the seasonal adjustment.The odds of a 25-basis-point rate cut in June have edged up slightly to 51.7%, according to the CME FedWatch&nbsp;<a class="st-link-external" target="_blank" rel="noopener noreferrer nofollow" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>, up from 49% a week ago. However, the odds of a 25 bps cut in March remain low, at 7.8%.The&nbsp;<a href="https://stocktwits.com/symbol/TLT">iShares 20+ Year Treasury Bond ETF</a> (TLT) was up 0.16% at the time of writing, while the&nbsp;<a href="https://stocktwits.com/symbol/IEF">iShares 7-10 Year Treasury Bond ETF</a> (IEF) was up 0.48%. Retail sentiment around the TLT ETF was in the ‘bullish’ territory.Also See:&nbsp;<a href="https://stocktwits.com/news-articles/markets/equity/genuine-parts-plans-separation-of-auto-industrial-parts-businesses/cZRWKuqR4uP">Genuine Parts Weighs Split Of Auto, Industrial Units Into Two Public Companies: Report</a>For updates and corrections, email newsroom[at]stocktwits[dot]com.

US Treasury Yields | Representative image. (Photo by Jaap Arriens/NurPhoto via Getty Images)

Treasury Yields Edge Lower Ahead Of Release Of Delayed Data: Expert Says Soft CPI Should Calm Fed Officials’ Fears Of Sticky Inflation

The benchmark 10-Year Treasury yield fell three basis points to 4.029%, while the 30-Year yield declined two basis points to hover at 4.67%.

<ul class="summary-bullets"><li>The vote failed 52 to 47, short of the 60 votes needed to pass the bill.&nbsp;</li><li>Without funding, the DHS will go into a shutdown on Saturday.</li><li>According to a report from Reuters, a prolonged delay of the funding bill and subsequent partial shutdown would impact workers such as the Transportation Security Administration employees at airports.</li></ul>The U.S. Senate failed to advance a funding bill for the Department of Homeland Security after Democrats voted to block the deal on immigration enforcement.Democratic lawmakers on Thursday insisted on sweeping changes to immigration enforcement, blocking a Republican-backed measure to secure votes to fund the DHS beyond the Feb. 13 midnight deadline. The vote failed 52 to 47, short of the 60 votes needed to pass the bill.Without funding, the DHS will go into a shutdown on Saturday.<h2 class="st-heading-2">Shutdown Impact</h2>While the impact of the shutdown is expected to be minimal, since the DHS has classified about 258,000 of its 272,000 employees as essential workers last year and kept them working through the record 43-day shutdown, workers are likely to be required to continue without pay.While the Immigration and Customs Enforcement (ICE) and Customs and Border Protection are unlikely to be impacted because of the budget increases last year, other departments are likely to feel the burden.According to a <a class="st-link-external" target="_blank" rel="noopener noreferrer nofollow" href="https://www.reuters.com/world/us/us-senate-blocks-homeland-security-funding-raising-likelihood-shutdown-2026-02-12/">report</a> from Reuters, a prolonged delay of the funding bill and subsequent partial shutdown would impact workers such as the Transportation Security Administration employees at airports.The Federal Emergency Management Agency (FEMA), which supports disaster management across the country, is also likely to be impacted by worker furloughs.Moreover, the Senate is also breaking for about 10 days on Saturday, although it must return if an agreement is reached.Senate Republican leader John Thune said that the offer sent to Democrats was a “good-faith counteroffer” and hoped it would be passed to allow more time for negotiation.“It is an extremely serious offer,” Thune reportedly said. “It increasingly looks like Democrats are not.”<h2 class="st-heading-2">Market Reactions</h2>Meanwhile, U.S. equities declined on Thursday. At the time of writing, the <a href="https://stocktwits.com/symbol/SPY">SPDR S&amp;P 500 ETF </a>(SPY), which tracks the S&amp;P 500 index, was down by 0.96%, the <a href="https://stocktwits.com/symbol/SPY">Invesco QQQ Trust ETF</a> (QQQ) fell 1.53%, while the <a href="https://stocktwits.com/symbol/DIA">SPDR Dow Jones Industrial Average ETF Trust</a> (DIA) declined 0.67%.Retail sentiment around the S&amp;P 500 ETF on Stocktwits was in the ‘bearish’ territory.The <a href="https://stocktwits.com/symbol/TLT">iShares 20+ Year Treasury Bond ETF</a> (TLT) was up by 1.29% at the time of writing, while the <a href="https://stocktwits.com/symbol/IEF">iShares 7-10 Year Treasury Bond ETF</a> (IEF) rose 0.53%.For updates and corrections, email newsroom[at]stocktwits[dot]com.Also Read: <a href="https://stocktwits.com/news-articles/markets/equity/americans-bear-the-brunt-of-trump-tariffs-as-per-ny-fed-report/cZRTtkCR4rt">Americans Bear The Brunt Of Trump’s Tariffs, As Per NY Fed Report</a>

FEBRUARY 11: A security guard is seen next to the logo of the U.S. Department of Homeland Security (Photo by Celal Gunes/Anadolu via Getty Images)

Is A Partial Government Shutdown On The Cards This Weekend?

Democrats on Thursday blocked a Republican-backed measure to secure votes to fund the Department of Homeland Security beyond the Feb. 13 midnight deadline. 

<ul class="summary-bullets"><li>The report noted that in 2025, the average tariff rate on U.S. imports rose from 2.6% to 13% through the year.&nbsp;</li><li>The report drew on evidence from Trump’s first term, noting that foreign exporters did not cut prices in response to tariffs.&nbsp;</li><li>The higher costs also pushed companies to adjust and reorganize their supply chains.</li></ul>U.S. businesses and consumers bear the majority of the burden of President Donald Trump’s tariffs, according to the Federal Reserve Bank of New York.In a <a class="st-link-external" target="_blank" rel="noopener noreferrer nofollow" href="https://libertystreeteconomics.newyorkfed.org/2026/02/who-is-paying-for-the-2025-u-s-tariffs/">report</a> published on Thursday, the New York Fed said that almost 90% of the economic weight of the import tax was shouldered by Americans.The report noted that in 2025, the average tariff rate on U.S. imports rose from 2.6% to 13% through the year.<h2 class="st-heading-2">Tariff Impact</h2>As per the report, the average tariff rate increased over the year. While it was low at the beginning of 2025, coming in at 2.6%, the rate jumped in April and May by 125 percentage points, when Trump imposed tariffs on Chinese goods to 125% before lowering them back to 113%. By the end of the year, the average tariff rate was 13%, the report noted.Illustrating through an example, the report said that if a foreign seller charges $100 for a product and a 25% tariff is imposed, the tax adds $25, raising the total cost to $125 if the exporter doesn’t lower the price.“In this case, the tariff incidence falls entirely on the importer; in other words, there is 100 percent pass-through from tariffs to import prices, and therefore on U.S. consumers and firms,” the report said.<h2 class="st-heading-2">Analysis Rationale</h2>The report drew on evidence from Trump’s first term, noting that foreign exporters did not cut prices in response to tariffs. As a result, the full burden fell on the U.S., with tariffs fully passed through to import prices.It estimated that for 2025, Americans absorbed 94% of tariff costs from January to August, easing to 92% in September and October, and 86% in November.With the average tariff at 13% in December, the report suggested that import prices on affected goods rose about 11%. The higher costs also pushed companies to adjust and reorganize their supply chains.<figure class="image"><img src="https://news.stocktwits-cdn.com/Screenshot_2026_02_12_at_11_32_58_PM_png_948946386b.webp" alt="Screenshot 2026-02-12 at 11.32.58 PM.png" width="946" height="434"><figcaption>Source: Federal Reserve Bank Of New York</figcaption></figure>&nbsp;“In sum, U.S. firms and consumers continue to bear the bulk of the economic burden of the high tariffs imposed in 2025,” the report concluded.<h2 class="st-heading-2">Market Status</h2>Meanwhile, U.S. equities declined on Thursday. At the time of writing, the <a href="https://stocktwits.com/symbol/SPY">SPDR S&amp;P 500 ETF</a> (SPY), which tracks the S&amp;P 500 index, was down by 1.28%, the <a href="https://stocktwits.com/symbol/qqq">Invesco QQQ Trust ETF</a> (QQQ) fell 1.79%, while the <a href="https://stocktwits.com/symbol/dia">SPDR Dow Jones Industrial Average ETF Trust</a> (DIA) declined 1.27%.Retail sentiment around the S&amp;P 500 ETF on Stocktwits was in the ‘bearish’ territory.The <a href="https://stocktwits.com/symbol/tlt">iShares 20+ Year Treasury Bond ETF</a> (TLT) was up by 0.65% at the time of writing, while the <a href="https://stocktwits.com/symbol/ief">iShares 7-10 Year Treasury Bond ETF</a> (IEF) rose 0.45%.For updates and corrections, email newsroom[at]stocktwits[dot]com.Also Read: <a href="https://stocktwits.com/news-articles/markets/equity/lunr-stock-is-reportedly-a-buy-at-deutsche-bank-despite-retail-doubt/cZRTrE5R4rq">LUNR Stock Is Reportedly A ‘Buy’ At Deutsche Bank Despite Retail Doubt — Here’s Why</a>

American flag and cash dollar bills - Economics chart (USA, money, economy, inflation, elections, tariffs, government 

Americans Bear The Brunt Of Trump’s Tariffs, As Per NY Fed Report

In a report published on Thursday, the New York Fed said that almost 90% of the economic weight of the import tax was shouldered by U.S. businesses and consumers.

<ul class="summary-bullets"><li>The economist also laid out a roadmap to make the U.S. rich again, as in the 1880s, starting with eliminating 90% of the federal government.</li><li>Schiff also stated that government agencies such as the SEC, FBI, CIA, and FCC, among others, should be eliminated, except for programs such as Social Security, Medicare, and Medicaid.</li><li>In another post on X, the economist also called out President Trump’s comments about other countries ripping off the U.S.</li></ul>Economist Peter Schiff on Thursday&nbsp;opined that President Donald Trump is correct in pointing out that the United States was at its richest in the 1880s and 1890s, but is wrong to attribute that wealth to tariffs.“The reason we were so rich back then is that government was so tiny that we could afford to pay for it with tariffs. Back then, total federal spending was only about 2% of GDP. Today it’s over 23%,” he said in a&nbsp;<a class="st-link-external" target="_blank" rel="noopener noreferrer nofollow" href="https://x.com/PeterSchiff/status/2021945187052740738">post</a> on X.<h2 class="st-heading-2">Eliminating Federal Government Departments</h2>The economist also laid out a roadmap to make the U.S. rich again, as in the 1880s, starting with eliminating 90% of the federal government, which would make it possible to pay for the remaining 10% with tariffs.He also called for the elimination of the Federal Reserve and a return to the gold standard.“Let's get rid of income and Social Security taxes. Let's eliminate all the government departments created since 1890, like Commerce, Labor, Health, Education, Housing, Transportation, Energy, and Education,” the economist said.Schiff also stated that government agencies such as the SEC, FBI, CIA, and FCC, among others, should be eliminated, except for programs such as Social Security, Medicare, and Medicaid.“We should also repeal almost every federal law that has been passed since 1900. If we do all of that, then we can have tariffs and be rich again like we were in the 1880s and 1890s,” he added.In another&nbsp;<a class="st-link-external" target="_blank" rel="noopener noreferrer nofollow" href="https://x.com/PeterSchiff/status/2021967593775747490">post</a> on X, the economist called out President Trump’s comments about other countries ripping off the U.S. “They rip us off by selling us consumer goods at low prices and loaning us money at low interest rates. If they stop ripping us off, and the result is that goods prices and interest rates double or triple, is that a win for us?” he said.<figure class="image"><img src="https://news.stocktwits-cdn.com/Schiff_post_jpg_9aa21d7f97.webp" alt="Peter Schiff's post on X" width="718" height="247"><figcaption>Peter Schiff's post on X | @PeterSchiff/X</figcaption></figure><h2 class="st-heading-2">What Did Trump Say?</h2>Back in January 2025, President Trump promised that more tariffs would be coming after he announced levies on China, Canada, and Mexico.“We were at our richest from 1870 to 1913. That’s when we were a tariff country, and then they went to an income-tax concept. And, you know, how did that work out? It’s fine, it’s OK, but it would have been very much better,” stated Trump.During his inaugural address, the U.S. President praised former President William McKinley, saying that he “made our country very rich through tariffs and through talent.”A little over two months later, the Trump administration&nbsp;<a href="https://stocktwits.com/news-articles/markets/equity/trump-says-ready-to-talk-9.6t-market-cap-inauguration/chf1A69Rb7S">announced</a> “Liberation Day” tariffs.Meanwhile, U.S. equities declined in Thursday morning’s trade. At the time of writing, the&nbsp;<a href="https://stocktwits.com/symbol/SPY">SPDR S&amp;P 500 ETF</a> (SPY), which tracks the S&amp;P 500 index, was down by 0.76%, the&nbsp;<a href="https://stocktwits.com/symbol/QQQ">Invesco QQQ Trust ETF</a> (QQQ) fell 1.3%, while the&nbsp;<a href="https://stocktwits.com/symbol/DIA">SPDR Dow Jones Industrial Average ETF Trust</a> (DIA) declined 0.51%. Retail sentiment around the S&amp;P 500 ETF on Stocktwits was in the ‘bearish’ territory.The&nbsp;<a href="https://stocktwits.com/symbol/TLT">iShares 20+ Year Treasury Bond ETF</a> (TLT) was up by 0.71% at the time of writing, while the&nbsp;<a href="https://stocktwits.com/symbol/IEF">iShares 7-10 Year Treasury Bond ETF</a> (IEF) rose 0.37%.Also See:&nbsp;<a href="https://stocktwits.com/news-articles/markets/equity/smr-stock-rises-as-nuscale-partners-with-ornl-for-ai-nuclear-fuel-management/cZRTnSWR4rk">SMR Stock Rises As NuScale Announces Partnership To Explore AI-Guided Nuclear Fuel Management: Retail Calls It A ‘Real Player In Nuclear Energy’</a>For updates and corrections, email newsroom[at]stocktwits[dot]com.

Peter Schiff is interviewed during the London Blockchain Conference at The Queen Elizabeth II Conference Centre on June 02, 2023 in London, England. 

Peter Schiff Says Trump Is Incorrect To Attribute US Wealth In 1880s And 1890s To Tariffs – Suggests Ways On How To Be Rich Again

Schiff noted that total federal spending was only about 2% of GDP back then, while today it’s over 23%.

BlackRock Institutional Trust Company N.A. - iShares 20+ Year Treasury Bond ETF

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Current Price	$89.41
Prev Close	$89.62
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