“The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.”
Today in history, on August 15, 1971, President Richard Nixon slammed shut the “gold window” and eliminated the last vestige of the gold standard. Nixon ordered Treasury Secretary John Connally to uncouple gold from its fixed $35 price and suspended the...
Federal Reserve Chair Jerome Powell’s testimony before Congress was closely scrutinized not just for its economic implications but also for its political overtones. Powell cited “trade tensions” as a cause for concern about the strength of the global economy. He...