Your Money

Last week the Supreme Court ruled 6–3 in Learning Resources, Inc. v. Trump that the International Emergency Economic Powers Act does not authorize sweeping global tariffs. The decision temporarily reduced tariff rates to pre “Liberation Day” levels.

But that relief was brief.

Within hours, the administration announced a replacement framework, including a new 10% global tariff under alternative statutory authority. Then increased it again to 15%. The legal mechanism changed. Trade tension did not disappear.

Markets reacted in layers. Import-heavy retailers and consumer brands may see some margin relief. At the same time, analysts estimate that $133B to $175B in previously collected tariffs could be subject to refund claims. If significant refund checks are issued, the Treasury may require additional borrowing, potentially placing upward pressure on long-term yields.

The larger issue is not the exact tariff rate. It is policy uncertainty.

Trade policy can shift quickly. Legal authority can be challenged. Replacement rules can emerge just as fast. That environment makes short-term positioning difficult and headlines noisy.

For long-term investors, the discipline remains the same. Diversification matters. Balance sheets matter. Cash flow durability matters. Policy cycles come and go. Portfolio structure should not.

After the Supreme Court’s tariff ruling, here’s what could be next for stocks
by Brian Stewart

Your Life

Caregiving often begins quietly. A few errands. A few appointments. Then it becomes constant.

According to Harvard Health, burnout is not a character flaw. It is a physiological response to sustained stress without recovery. Sleep disruption, elevated stress hormones, and decision fatigue compound over time.

The hard truth is this: no one sustains high responsibility indefinitely without support.

Relief does not require abandoning duty. It requires boundaries. Shared tasks. Scheduled respite. Honest conversations. Strength in caregiving includes recognizing limits before exhaustion sets in.

Relief for caregiver burnout
by Anthony L. Komaroff, MD

Complexity Simplified

If you ever notice cold hands, simply put on a vest. It may not make sense at first, but warming your core often warms your fingers.

As we age, circulation to the extremities becomes less efficient. When the body senses cold, it protects what matters most first. Blood is directed to the heart and brain before the hands and feet. That is not a flaw. It is design.

If you ever have cold hands or feet, remember to keep your core warm and move periodically. Even light activity encourages blood flow back to the edges.

Why are my hands and feet always cold?
by Aaron Clark, DO

Trivia