What legalizing drugs would mean for the UK economy

Active vs. passive is one of the biggest feuds in investing. But it’s time to bury the hatchet.

While the Fed’s communication toolkit has steadily expanded since 2000—from formal post-meeting statements to press conferences and quarterly projections—a deliberate rollback of forward guidance could reduce policy transparency but also curb market misinterpretations that have plagued rate forecasts.

Unlike income taxes, which are progressive, tariffs function like a sales tax—affecting all income levels equally and hitting lower-income consumers harder.