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The Supreme Court Just Saved the Fed's Independence

The Supreme Court’s decision in Trump v. Cook is more than a procedural ruling about one Federal Reserve governor. It is a warning about the fragility of central bank integrity and a reminder that the Federal Reserve Act means what it says. The Court denied the government’s request to let President Trump remove Governor Lisa Cook while litigation continues. In so doing, it rejected the claim that the president’s determination of “cause” is operationally unreviewable, that any alleged concern about a central bank governor’s conduct is enough, and that courts cannot preserve a governor’s status. That matters for every bank, investor, borrower and regulator in the country. The Federal Reserve is the central institution responsible for monetary policy, bank supervision and the stability of the U.S. financial system. Its independence is not a courtesy extended by presidents. It is essential for market confidence. The Court understood this. It emphasized that Federal Reserve governors serve...
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May 2026 PCE Inflation: What Persistent Inflation Means for Black and Minority-Owned Businesses

  The Federal Reserve's preferred measure of inflation sent a clear message in May: inflation remains stubbornly high. The Personal Consumption Expenditures (PCE) Price Index increased 0.4 percent in May and 4.1 percent over the past year , the highest annual inflation rate in roughly three years. Core PCE—which excludes the volatile food and energy categories—rose 3.4 percent from a year earlier. While the three-month annualized pace of core inflation has moderated from 4.4 percent in February to 3.5 percent in May , inflation remains well above the Federal Reserve's 2 percent target. Consumer spending and personal income both increased 0.7 percent , demonstrating that demand remains resilient despite higher prices. For Black- and minority-owned businesses (MBEs), these data present both immediate challenges and longer-term strategic implications. Inflation Is Not Neutral Inflation does not affect every business equally. Minority-owned firms are disproportionately concentra...
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At the 2026 Politico Energy Summit. Juliana Griffith, Texas Christian University.

On June 10th, Charlotte Griffin and I had the opportunity to attend the Politico Energy Summit. After hours of hearing from politicians and government officials, we heard from Joel Kaplan, Chief Global Affairs Officer at Meta. Kaplan offered a different perspective, moving away from the policy and government processes. Instead, he spoke to the inner workings of Meta’s artificial intelligence data centers. Specifically, he shared how Meta is helping to uplift the communities surrounding the new data center sites.  Richland Parish in Louisiana is one of the new technology sites. Residents of Richland are being “uplifted” through Meta investments in local schools, Community Action Grants, no-cost digital skills training, and employment opportunities at AI facilities. Residents in Richland and beyond are encouraged to join America’s Workforce Pathway, a skills-based education initiative supported by funding from Meta and other corporations around the nation. Kaplan described the devel...
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Reflections on The Washington Post’s 2026 Building America Summit and the Future of Autonomous Weapons. Charlotte Griffin. Boston College.

Last Thursday, June 11, 2026, during my first week interning at Creative Investment Research, I had the distinct privilege to attend the Washington Post’s Building America Summit. The full-day event took place at the Post’s main offices in DC and served as the kickoff of the news outlet’s multi-media Building America initiative. During his introductory remarks, Matt Murray, executive editor of the Washington Post, remarked that the central question to be answered was “How America builds for the future that’s in front of us?” Those invited to tackle this question were leaders from both the public and private sectors, in the areas of defense, energy, manufacturing, education, and more.  Across these various conversations, I noticed several core throughlines that came up time and time again. The most prolific of these topics was artificial intelligence and how to respond to our rapidly accelerating digital age. In all areas, these professionals were hyperaware of the importance o...
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Building Babel or Jerusalem: AI, Human Dignity, and the Common Good. Juliana Griffith, Texas Christian University

As a summer Intern at Creative Investment Research, I recently attended Georgetown University’s webinar, Magnifica Humanitas: AI, Human Dignity, and the Common Good. Leaders in Catholic theology examined Pope Leo XIV’s first encyclical on artificial intelligence. The discussion proposed a challenge to listeners to look beyond AI capabilities to judge the morality of how it should be used. One theme from the event stuck with me: the choice between building Babel or building Jerusalem. It expanded the lens with which I view both professional pursuits and healthcare discrepancies.  Babel or Jerusalem?  When asked for her biggest takeaway from Magnifica Humanitas, Argentine Catholic Theologian Emilce Cuda highlighted the call for humanity’s choice in the age of artificial intelligence. We will choose to either build a new Tower of Babel or build the walls of Jerusalem.  The metaphor comparing the formation of Babel to Jerusalem provides a framework for understanding the imple...
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May 2026 Producer Price Index Signals Rising Cost Pressures for Black and Minority-Owned Businesses

The latest Producer Price Index (PPI) report from the U.S. Bureau of Labor Statistics confirms that inflationary pressures are accelerating throughout the economy, with potentially serious consequences for Black-owned and minority-owned businesses. The PPI for final demand rose 1.1 percent in May , following increases of 1.1 percent in April and 0.7 percent in March . On a year-over-year basis, producer prices increased 6.5 percent , the largest annual increase since November 2022. For minority business enterprises (MBEs), the key question is whether minority firms have sufficient pricing power, access to capital, and supply-chain leverage to survive another round of cost increases. Energy Costs Drive the Increase Gasoline prices surged more than 23 percent during the month, reflecting disruptions in global energy markets associated with conflict in the Middle East. This matters because minority-owned firms are concentrated in sectors where fuel costs are a significant operating expen...
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Global Growth Outlook Downgraded with PPI Increasing

On June 10, 2026, the World Bank Group cut its 2026 global growth forecast to 2.5%  — the weakest rate since the Covid-19 pandemic — as soaring energy prices from the Middle East war fuel a new round of inflation. The bank warned growth could fall as low as 1.3% if energy disruptions intensify and financial markets come under stress. The bank's 2026 inflation projection is now 4% — almost a full percentage point above last year's rate.  In the US, the Producer Price Index PPI for final demand rose 1.1 percent in May, seasonally adjusted, the U.S. Department of Labor reported today. On an unadjusted basis, the index for final demand increased 6.5 percent for the 12 months ended in May, the largest 12-month rise since moving up 7.4 percent in November 2022.
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