US job growth slows as hiring cautious amid tariffs
US job growth slowed in December, with nonfarm payrolls increasing by only 50,000 jobs, down from a revised 56,000 in November, while the unemployment rate dipped to 4.4%. This slowdown, attributed to cautious hiring amid trade tariffs and rising investment in artificial intelligence, reinforces expectations that the Federal Reserve will maintain interest rates at its upcoming meeting. Economists suggest that the labour market is experiencing structural challenges, complicating the effectiveness of rate cuts in stimulating job growth.
Supreme Court to Hear Chevron Case on January 12
The Supreme Court is set to hear arguments on January 12 regarding Chevron USA Inc.'s attempt to move a case involving Louisiana's coastal erosion from state to federal court. The case, which has already resulted in a $745 million jury verdict for alleged damages in Plaquemines Parish, centers on whether Chevron's drilling activities, conducted under federal contracts during World War II, qualify for federal jurisdiction. The outcome could influence over 40 similar lawsuits and has significant implications for Louisiana's economy and energy policies.
Supreme Court Delays Ruling on Trump's Tariff Challenge
The US Supreme Court did not issue a ruling on January 9 regarding the legal challenge to tariffs imposed by President Donald Trump under emergency powers, leaving investors uncertain about the future of these trade measures. The court has not announced a new date for the ruling, which is expected to address whether the Trump administration lawfully invoked the International Emergency Economic Powers Act to impose tariffs and whether importers who paid duties are entitled to reimbursement.
Trump Orders Fannie Mae and Freddie Mac to Buy $200 Billion in Mortgage Bonds
US President Donald Trump has directed Fannie Mae and Freddie Mac to purchase $200 billion in mortgage bonds, aiming to reduce housing costs ahead of the November midterm elections. This move has raised concerns about its implications for initial public offerings (IPOs) and has led to a surge in housing-linked stocks.
Supreme Court to Review FCC's Authority on Location Data Fines
The U.S. Supreme Court will review a case concerning the Federal Communications Commission's (FCC) authority to impose fines on major wireless carriers, including Verizon and AT&T, for sharing customer location data without consent. The FCC had levied nearly $200 million in penalties in 2024, prompting legal challenges that resulted in conflicting rulings from federal appellate courts regarding the agency's enforcement powers and the constitutional right to a jury trial. The justices are expected to hear arguments and issue a ruling by the end of June.
