February 20, 2026

Marc Chandler - Supreme Court Ruling On Tariffs, Economic Data (GDP), Fed Policy Update

13 minutes

In this daily editorial, we are joined by Marc Chandler, Managing Partner at Bannockburn Global Forex and Editor of the Marc to Market website. Marc provides a comprehensive analysis of a whirlwind week in the financial markets, headlined by a landmark legal shift in U.S. trade policy and a surprising cooling of the American economy.

Key Discussion Points:

Supreme Court Ruling on Tariffs: Analysis of the 6-3 vote overturning President Trump’s use of emergency powers for reciprocal and fentanyl-related tariffs.

Fiscal and Inflationary Impact: How the potential $170 billion in tariff refunds creates credit-negative pressure on U.S. interest rates and downward pressure on consumer prices.

Q4 GDP Miss: Examining the 1.4% growth rate, well below the 3% forecast, and how the government shutdown distorted final sales and inventory data.

Federal Reserve Outlook: Navigating the "fragmented" FOMC minutes and the market's pricing of 55 basis points in cuts by late 2026.

Currency and Dollar Strength: Why the U.S. Dollar remains resilient in a "prolonged correction" despite weak economic data and geopolitical noise.

Click here to visit Marc’s site - Marc To Market - https://www.marctomarket.com/

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Investment Disclaimer: This content is for informational and educational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security or investment product. Investing in equities, commodities, really everything involves risk, including the possible loss of principal. Do your own research and consult a licensed financial advisor before making any investment decisions. Guests and hosts may own shares in companies mentioned.

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