Trump’s Tariffs Are the Highest in a Century. But After His Threats, They Seem Like a Relief.

As a presidential candidate in the past, the former California senator pushed for higher taxes and bigger housing investments.

The market perked up late in the year when interest rates eased, but affordability challenges yielded the fewest transactions since 1995.

Jerome H. Powell says the Fed is focused on separating “signal from the noise,” as the president whipsaws on tariffs.