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Targeted countries vow to hit back, and analysts predict “a significant supply shock” to the U.S. economy resulting in 1.2% lower GDP and 0.7% higher inflation.

The class-action lawsuit, filed on behalf of 60,000 plan participants, alleges that the airline failed to replace a “chronically underperforming” large-cap fund holding more than $2 billion in retirement plan assets.

Fueled by a generous tailwind from consumer spending, the growth supports the Fed’s view that the economy is strong—and interest rates do not need to be lowered rapidly.

The ERISA Industry Committee, along with two other industry groups, is seeking the dismissal of the drugmaker’s PRT class-action lawsuit over the transfer of its pension plan to Athene Annuity, alleging a breach of fiduciary duties.

“We’re going to protect our people and our businesses, and we’re going to protect our country, with tariffs.”

“The committee is very much in the mode of waiting to see what policies are enacted,” according to Chairman Powell.