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Austan Goolsbee, in prepared remarks for a speech Feb. 24, said he wants to see evidence that inflation is cooling to the Fed’s 2% target before supporting further interest-rate cuts.

FedEx said in a filing that it has suffered injury from having to pay the tariffs and that the relief it's seeking from the court would redress those injuries.

Comparable sales, which track performance at locations open at least a year, rose 0.4% in the quarter ended Feb. 1, better than the average of estimates compiled by Bloomberg.

The measure would prioritize refunds to small businesses and encourages importers, wholesalers and large companies to pass the refunds on to their customers.

The main political groups in the European Parliament say they’ll suspend legislative work on approving the trade deal on Feb. 23, days after the U.S. Supreme Court struck down reciprocal tariffs.

The Supreme Court's Feb. 20 decision struck down tariffs Trump had imposed on nearly every country using an emergency powers law. Trump now said he'll use a different legal authority.

The Supreme Court decision could potentially disrupt arrangements worked out in trade negotiations since Trump announced sweeping tariffs on dozens of countries in April 2025.

Treasury Secretary Scott Bessent said any refunds from tariffs struck down by the Supreme Court would amount to “ultimate corporate welfare,” suggesting he sees no benefit flowing to consumers.

President Trump said Feb. 20 that he planned to impose a flat 10% levy on foreign goods and that he would order a raft of trade investigations that should allow him to enact more permanent tariffs.

The U.S. Supreme Court in its 6-3 majority ruling overturning President Donald Trump’s use of emergency powers to implement tariffs offered a firm indictment of the president’s actions.