Tariffs, China's Demographic Crash, and a Fed Showdown

New data shows Americans paying the price for tariffs: According to reporting cited by the Wall Street Journal, roughly 96 percent of tariff costs have been paid by American consumers, not foreign companies. While tariff revenue has helped reduce the federal deficit, wage growth has slowed and prices have risen on affected goods. A pending Supreme Court ruling could force massive reimbursements if the tariffs are ruled unconstitutional. China's population collapse accelerates as birth rates hit historic lows: China's birth rate fell another 17 percent, marking the lowest number of births since records began in 1949. Analysts point to authoritarian governance, economic stagnation, and war footing under Xi Jinping as reasons families are opting out of having children. Similar demographic self-destruction is emerging in the West, including Britain's sharply rising abortion rates. Trump grants clemency to congressman's son amid humanitarian concerns: President Trump commuted the sentence of James Philip Womack, the son of Arkansas Congressman Steve Womack, who was imprisoned for distributing methamphetamine. The White House cites good behavior and severe family health crises, raising debate over whether the decision reflects compassion or political favoritism. Supreme Court to hear major case on Federal Reserve independence: The Supreme Court will hear arguments over whether President Trump can remove Federal Reserve Governor Lisa Cook for cause. Jerome Powell's decision to attend signals an escalating standoff with the White House as the Fed weighs rate decisions amid inflation concerns. The case could redefine presidential power over the central bank. Erick Erickson breaks down the four major stories you need to know before the day ends. From political power plays in Washington to breaking developments the mainstream media is ignoring, this rapid-fire update cuts through the noise.   Text ERICK to 33-777 for "Show Notes" and to stay updated on all things Erick Erickson. Stay grounded, stay informed, and keep the faith.