​We hope you are enjoying the holidays. This month’s update covers the economy, the Federal Reserve, health, and the financial markets.

Here Are Trump’s Options If the Supreme Court Says His Tariffs Are Illegal from Bloomberg – The White House can still implement more targeted tariffs if it loses a broad tariff case currently before the Supreme Court. New targeted tariffs would be permitted, but they may face investigation periods and rate limits.

The Lisa Cook Case Could Be the Whole Ball Game from The Atlantic – The article points out that the Trump administration may have more influence on the Federal Reserve and interest rates if it successfully justifies Lisa Cook’s firing for misconduct before the Supreme Court. The firing would allow Trump loyalists to constitute a majority of the Federal Board of Governors, and they could potentially push for a replacement of the Federal Reserve Presidents through confirmations set for February 2026. These bold moves would effectively allow Trump loyalists to control the FOMC that sets interest rates and undermine the Federal Reserve’s independence.

Being in shape is better for longevity than being thin, new study shows from The Washington Post  – With 2026 health resolutions likely right around the corner, the following piece is timely.

The Rules of Investing Are Being Loosened. Could It Lead to the Next 1929? from The New York Times – Andrew Ross Sorkin highlights that financial innovation has accelerated dramatically making private equity, venture capital, private debt and crypto more accessible to individual investors. He sees parallels to the 1920s when financiers promoted more speculation. Sorkin cautions that “when transformation comes this quickly it rarely benefits everyone unless it is paired with transparency, oversight and regulation”.

If we haven’t talked in a while, let’s catch up soon.

Have a Happy Thanksgiving!
Bill Hawes, CFA, CFP
President and Chief Investment Officer
Candor Asset Advisors
 
O: 512 522-8501
C: 512 470-6106
Alt: 737 265-3782
bhawes@candorassetadvisors.com
www.candorassetadvisors.com
to schedule a conversation: https://calendly.com/bhawes-1/brief_conversation