CPI and jobs data, not Jackson Hole, will determine the Fed’s course
Investing.com -- The U.S. Supreme Court has allowed President Donald Trump’s administration to move forward with significant cuts to National Institutes of Health grants for research related to racial minorities and LGBT people.
The decision on Thursday permits the administration to implement these funding reductions while a legal challenge continues in lower courts.
The Supreme Court granted the Justice Department’s request to lift an earlier ruling by Boston-based U.S. District Judge William Young. In June, Judge Young had determined that the grant terminations violated federal law.
The legal challenge against these funding cuts was brought by a coalition of researchers and 16 U.S. states. This case will continue to be litigated in a lower court, but the administration can now implement the grant reductions while the legal process unfolds.
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