Julie Morgan

A Fed official is signaling rates may stay right where they are.

And a grocery giant is expanding fast.

President Trump said he is imposing a 25% tariff on goods from any country doing business with Iran.

He said in a post on Truth Social that effective immediately, any country doing business with the Islamic Republic of Iran would

will pay a tariff of 25 percent on any and all business being done with the United States of America.

The Post goes on to say that this order is final and conclusive.

Some of Iran's biggest trading partners include China, the UAE, India and Turkey.

China is the top global importer of Iranian crude.

In the meantime, the Supreme Court has yet to rule on the legality of Trump's global tariffs.

Should SCOTUS rule against the president, it could disrupt his ability to abruptly levy tariffs on countries trading with Iran.

The next court opinion is on Wednesday, which is tomorrow.

We're taking a deeper dive into this topic in the Wall Street Breakfast newsletter.

A link to sign up is in the show notes section.

We told you Monday here on Wall Street Breakfast that the Fed's John Williams was set to speak at the Council on Foreign Relations in New York City.

During that presentation yesterday, he signaled that there is no rush for what would be a fourth consecutive interest rate cut when the central bank meets again at the end of the month or in about two weeks.

Williams said by reducing the target range for the federal funds rate by a cumulative 75 basis points last year,

The FOMC has moved the modestly restrictive stance of monetary policy closer to neutral.

Fed funds futures traders largely anticipate the Fed to hold rates steady at the current range of 3.5 to 3.75 percent, with only a 5 percent probability of a rate cut at the FOMC meeting on January 28th.

Williams said monetary policy is now well-positioned to support the stabilization of the labor market and the return of inflation to the FOMC's longer-run goal of 2%.

Aldi is celebrating its 50th year in the United States this year with plans to keep expanding.