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With help from Washington, new crypto trust-banks are bypassing guardrails governing traditional banks.

A top Wall Street economist is breaking with the Federal Reserve and warning that interest-rate cuts may be off the table completely through 2026 as inflation and the Iran War reshape the outlook.Michael Feroli, the chief U.S. economist for J.P. Morgan, disagrees with the Federal Reserve’s new forecast on interest-rate cuts this year.Feroli told CNBC March 19 that the Fed will keep interest rates on hold for the rest of 2026.He also said the central bank’s next move will be a rate hike in 2027.“The conflict in the Middle East adds a whole new wrinkle,” Feroli said one day after the Federal Open Market Committee voted 11-1 to continue to pause the benchmark Federal Funds Rate  at 3.50% to 3.75%. It was the second FOMC meeting in a row to hold rates but the first since the Iran War erupted. In its press release, the FOMC said available indicators suggest that economic activity has been expanding at a solid pace. “Uncertainty about the economic outlook remains elevated. The implications of developments in the Middle East for the U.S. economy are uncertain,’’ the release said. “The Committee is attentive to the risks to both sides of its dual mandate.”    What the Fed dual mandate requires for jobs, pricesThe Fed’s dual congressional mandate requires it to balance full employment and price stability.Lower interest rates support hiring but can fuel inflation.Higher rates cool prices but can weaken the job market.The two goals often conflict, operate on different timelines and are influenced by unpredictable global events like pandemics and wars.  More Federal Reserve:Fed Chair Powell sends frustrating message on future interest-rate cutsEven before the outbreak of the Iran War, the Fed faced a dilemma from worrisome risks to both sides of its congressional mandate: higher unemployment rates and sticky inflation.

Federal Reserve Bank of New York via FRED®

How the Federal Funds Rate affects youThe benchmark Federal Funds Rate impacts nearly all Americans.That’s because it guides interest rates for auto and student loans, home-equity loans and credit cards. It also impacts the 10-year Treasury bond which in turn affects mortgage rates in the stagnant housing market.Billions of dollars in taxpayer money — primarily from individual tax returns and payroll taxes — pay the interest on the nation’s $38.9 trillion debt. For consumers, a delayed rate cut could mean higher borrowing costs during an affordability crisis causing many Americans to scramble to pay energy, grocery, shelter and healthcare bills in a “low-hire, low-fire” labor market.FOMC paused rate cuts in JanuaryThe FOMC voted 10-2 to hold interest rates steady at 3.50% to 3.75% in January after three continuous cuts of 25 basis points in its last three meetings of 2025.Those cuts were based on data showing increasing weakening in the labor market and cooling inflation, although still sticky and tariff-laced.Related: Fed split holds as Iran war scrambles rate pathFed Chair Jerome Powell told reporters after the March 18 meeting that the economy was settling into a moderately neutral range.A neutral range for economists means monetary policy is neither stimulating nor restricting economic growth.Fed “dot plot” calls for one rate cut in 2026 The Fed’s “Summary of Economic Projections” provides its estimates of inflation, unemployment, and economic output, in addition to estimates of interest rates that officials see as most appropriate policy over a three-year horizon. The interest rate estimates, also known as the Fed’s “dot plot,” are closely watched on Wall Street for insight into the central bank’s thinking and plans.The SEP is a quarterly report from all 19 Fed officials, including the 12 voting members of the FOMC.The March “dot plot” calls for a single 25 basis point rate cut in 2026, and an additional 25 basis point cut in 2027, the same as the December 2025 forecast.But Powell noted in his press conference that the rate cut was not guaranteed, especially if the projected decrease in inflation doesn’t occur. “If we don’t see that progress, then you won’t see the rate cut,” he said.The March “dot plot” projections are more uncertain than in the past because of the Iran War, Powell said.The CME Group FedWatch Tool expects a 27.5% likelihood of a 25 basis point interest rate cut in December. Feroli cites inflationary pressures in PCE, CPIThe latest inflation data show prices that continue “to run too hot for comfort,” according to Feroli.January Core PCE: The core Personal Consumption Expenditures (PCE) price index, the Fed’s preferred inflation gauge, rose 3.1% year-over-year. It increased by .04% on a monthly basis.February Core CPI: The core February Consumer Price Index (CPI) remained steady at a 2.5% annual rate, the same as January. The core CPI rose 0.2% in February.“We have an inflation problem,’’ Feroli said, while noting that it was running above the Fed’s 2% target but adding that it was not “intractable.” Given the “pretty favorable economy,’’ Feroli said inflation “should get better over time.” Related: Former Fed insiders issue stark warning on U.S. economy

Your day-ahead look for March 20, 2026

Polen Growth POLRX, a onetime consistently strong-performing and highly rated concentrated growth fund, has had a rough go the past few years.Its institutional shares have trailed the Russell 1000 Growth for six straight calendar years, landing it in the lowest tenth of large-growth Morningstar Category peers over trailing one-, three-, five-, and 10-year periods through February 2026. The prolonged slump is out of character for the strategy whose thoughtful leaders and rigorous approach to investing in stocks with strong competitive positions had once produced strong results with less volatility than peers and its benchmark. Yet, there have been enough execution wobbles in recent years to warrant a Process Pillar downgrade to Above Average from High in February. Here’s the story behind that change and why we still think this is a compelling offering.Why It Has LaggedPolen Growth has fallen far behind. Though it posted a decent 10.9% annualized gain over the trailing 10 years through March 17, 2026, that looked meager beside the average large-growth fund’s 14.4% and the Russell 1000 Growth Index’s 17.5%. In fact, the strategy has lagged both measures over all trailing periods. At least three factors—market headwinds, portfolio and market concentration, and execution missteps—can explain this poor relative performance. The market has been unfavorable for Polen’s style. Momentum, or the tendency of fast-rising stocks to keep appreciating, has driven the stock market in recent years and hurt this strategy’s relative performance. The fund tends to have low exposure to high-momentum stocks, while its preference for quality, or stocks that the managers think can generate consistent and enduring profits, hasn’t set it apart from peers or the benchmark index, according to Morningstar’s Risk Model. While headwinds have detracted, single stock picks have been a bigger drag. The strategy’s 20-25 stock portfolio has exacerbated stock-picking errors, because each pick has more influence in a concentrated portfolio. And, like all large-growth peers, it has had to operate in an increasingly concentrated universe, which has raised the stakes on managers’ decisions to own or not own and to overweight or underweight a handful of names. The fund’s choices regarding those names—the so-called Magnificent Seven stocks of Alphabet GOOGL, Amazon.com AMZN, Apple AAPL, Meta META, Microsoft MSFT, Nvidia NVDA, and Tesla TSLA—have hampered performance. Only positions in Alphabet, Amazon, and Apple have helped. Not owning Nvidia from March 2019 to August 2025—a period of tremendous appreciation—was particularly painful. In fact, the managers’ preference for stocks with high margins and high recurring revenue led them to favor software rather than cyclical semiconductor stocks. So, it missed owning high-flying artificial intelligence winners like Nvidia and Broadcom AVGO while holding big stakes in software stocks like Adobe ADBE and ServiceNow NOW that have struggled amid fears that AI threatens their business models and growth (the managers sold Adobe in January 2026). Indeed, Morningstar’s equity research team lowered the Economic Moat Ratings of several software stocks in March, including Adobe and ServiceNow, whose moats dropped to narrow from wide. Meanwhile, the strategy has had its share of bad calls, such as overweighting the healthcare sector and making poor stock picks within it in recent years, including Illumina ILMN and Zoetis ZTS. The managers have been perhaps too patient with some poor-performing stocks, such as Thermo Fisher Scientific TMO, whose price languished over the roughly three years the fund owned it before the managers exited in September 2025. Why We Still Like This StrategyThe managers are more aware of momentum now. By tracking price and business momentum more closely, they can trim stocks that run ahead of fundamentals and add to those temporarily out of favor. The managers, however, have not increased turnover to chase momentum and still fall on the patient, deliberate end of the investing spectrum. Otherwise, the process remains intact. Companies still must clear strict hurdles before the managers consider owning their stocks. Those criteria include strong returns on equity, unencumbered balance sheets, consistent margins, and real organic growth. The concentrated portfolio also remains packed with stocks poised to continue to grow well into the future, such as Intuitive Surgical ISRG, which has a wide moat and an Exemplary Morningstar Capital Allocation Rating. Recent addition Idexx Laboratories IDXX, a pet and livestock healthcare company, has similar characteristics. Historically, stocks like these tend to reward investors over the long term.The team also remains strong. The firm saw unusually high turnover in the past year, with the departure of the former head of sustainability and three managers of other growth strategies. But the strategy’s thoughtful and experienced lead manager Dan Davidowitz and team leader Damon Ficklin, who once was a Morningstar equity analyst, remain. The addition of analyst Connor Carollo, who spent seven years at WCM Investment Management, also should help. The fund’s recent streak of underperformance has been disappointing. Still, this strategy’s combination of a disciplined process, experienced team, and more balanced positioning suggests it can post better results.

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.Why we love this dealAnyone who wears jewelry knows that the right accessory can absolutely transform an outfit. Sometimes the perfect ensemble just needs a bit of extra sparkle, whether that’s with a set of bracelets, a dangling pendant necklace, or a truly gorgeous pair of earrings. For the people who love adding new pieces to their jewelry box but don’t love the expensive prices often associated with them, it can be hard to find new accessories that actually hold up after lots of wear but don’t hurt your wallet in the process. It shouldn’t be a choice between quality and cost, and at the right retailers, it doesn’t have to be. Macy’s offers so many incredible deals on luxury jewelry that make it easy to own some truly stunning pieces, and if you’re as accessory-obsessed as we are, you’re certainly going to want to check it out. For those who can’t resist a statement earring, the Belle de Mer Blush Pearl and White Sapphire Earrings are definitely hard to resist adding to cart, and now that the originally priced $300 studs are 76% off, you don’t have to. Save $229 and score your own pair for just $72 before it’s too late. Belle de Mer Blush Pearl and White Sapphire Earrings, $72 (was $301) at Macy’s

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Shop at Macy’sWhy do shoppers love it?Made with blush freshwater pearl and lab-created white sapphire, these earrings aren’t just any old studs. The pink-hued button pearls give the earrings a rosy sheen and serve as the center to which the white sapphire is arranged around. The lab-grown white sapphire, which in total for both earrings equals about 2 ct. t.w. is arranged in a petal-like cluster on one side, and a more uniform band on the other to give the earrings a simple but unique look. In between the pearls and white sapphire, you see small sterling silver elements which match the sterling silver post and backing.Sterling silver is often the ideal choice for jewelry because its hypoallergenic properties make it perfect for those with sensitive skin and sensitivities to other metals. Additionally, it also offers superior durability and can easily be cleaned and polished, so it’ll hold up in color and quality even after lots of wear.Each stud measures about 8 to 9 millimeters wide, and has about a ⅝ inch drop. The earrings use a push back closure, also known as a butterfly back or friction back, which means the back slides easily on and off of the post to keep them securely in place in your ear. That specific type of closure is ideal for everyday wear. And if you really love this pearl and white sapphire combo, you’ll love the matching necklace that goes along with it. The 18-inch long pendant has the same discount available right now. Instead of paying $301 for it, you can grab it for just $72. Related: Macy’s has a bestselling $40 flannel shirt on sale for $10 — it’s available in 7 spring-ready colorsOne of the best perks that Macy’s offers when it comes to jewelry is free in-store cleaning at select Macy’s. Call ahead to your local Macy’s to check if they are one of the participating stores. Details to knowMaterial: Sterling silver, blush freshwater pearls, lab-created white sapphire.Dimensions: 8 to 9 millimeters each with a ⅝ inch drop. Closure: Post back closure.Although small, these earrings are well received by shoppers who can’t say enough about how gorgeous they are. “These earrings are beautiful and will be a wonderful gift,” one shopper said. Others note that they got “many compliments” while wearing them and that they are chic and classy. Shop more deals On 34th Linked Mesh Multi-Row Flex Bracelet, $22 (was $40) at Macy’sMacy’s Birthstone Gemstone & Diamond Accent Heart Pendant Necklace, $113 (was $300) at Macy’sStyle & Co Two-Tone 3-Piece Set SCulptural Bangle Bracelets, $17 (was $30) at Macy’sJewelry might not be a necessity, but everyone deserves some new sparkle every now and again. The Belle de Mer Blush Pearl and White Sapphire Earrings is the perfect option for the shopper who doesn’t want to go overboard on price but still wants something pretty and unique.

BTC holds near $70,500 as derivatives turn defensive, macro risks weigh on sentiment and altcoins show pockets of strength.

The Philadelphia Phillies’ franchise slugger offered a clear response on the New York Mets’ rising star.

Sandro at 40 highlights the rise of ‘accessible luxury’ as the Paris fashion brand adapts to demand for premium fashion, sustainability and timeless style

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.Why we love this dealAfter a long, dreary winter, there’s nothing better than enjoying the sun and seeing the bright pops of color peak up out of the soil and blossom into gorgeous flowers. Even if you don’t have much of a green thumb you can agree that those springtime florals and fresh greenery are certainly something to look forward to, and if you are an avid gardener, we know you’re just waiting for the perfect spring day to get out and start planning your favorites in hopes they blossom soon. The only snag comes when you don’t have the space you want to have your flowers and plants grow to their full potential, and when that happens, you need to invest in some flower beds. Instead of feeling like your florals are arranged haphazardly, a raised bed can give them some organization and better growing potential when you consider all the benefits they offer. And the very best part? You don’t have to spend a fortune to get a quality set as Walmart’s latest sale proves. The bestselling Snugniture Raised Garden Beds are 51% off, meaning you can save $31 on the originally priced $61 set and get not one but two for just $30. Available in other shapes and colors, these raised beds have the potential to absolutely transform your garden this spring. Snugniture Raised Garden Beds, $30 (was $61) at Walmart

Courtesy of Walmart

Shop at WalmartWhy do shoppers love it?For those unfamiliar, elevated beds do more than just change the appearance of your landscapes — they actually can help your plants grow better. Raised flower beds offer superior soil quality control, better drainage, fewer weeds, and overall easier access for planting and harvesting. When you’re limited on your space, they help you plant more efficiently so that even folks with a smaller yard or area to plant in can still enjoy the outdoor activity. This set of two, which is made with thick galvanized steel, measures 2 feet long, 2 feet wide, and 1 foot high, providing 3.86 cubic feet of planting space for fruits, herbs, vegetables, flowers, and other plants. The circular design, which measures 0.70 millimeters thick, prevents sharp edges from cutting or injuring hands as you plant while also providing a simple yet elegant shape that transforms a yard or landscape area. The galvanized steel is weather-resistant and rust-resistant, so moisture from the soil or watering won’t break it down or cause it to decay in quality. It also is pest-resistant, since it serves as a very robust barrier against rodents, termites, and other burrowing pests that could easily destroy wood, and the smooth surface discourages slugs and snails which can also cause harm to your garden. Related: Walmart is selling a sturdy patio glider swing for only $130 that’s perfect for springWith the open-bottom design, the garden bed gets good drainage and allows plants to take root underground, absorbing more nutrients than they would get in a flower box. What to expect from $30 garden beds: Pros and consProsQuality construction: Made with galvanized steel, the elevated gardening bed is weather, rust, and pest-resistant. Versatile options: The beds come in two shapes, three different size packs, and three colors. Compact size: Shoppers find the beds great for small gardens or shrubs, perfect for gardeners with limited space. ConsAssembly required: Each garden bed comes in eight pieces and needs to be assembled with screws. Shoppers love the wood grain look that the planters have, finding them “so much nicer than the usual raised garden beds.” They do a great job of protecting plants, flowers, and more from weed eaters and pests. Assembly is required and although it is fairly straightforward, many shoppers note that they each use a lot of screws to put together, which reinforces the flower bed and makes it sturdy but can be a bit of a pain in the assembly process. “Cheaper than ceramic pots and more versatile,” one shopper said. Shop more deals Workpro 7-Piece Garden Tools Set, $29 (was $37) at WalmartKotto 50-Foot Expandable Garden Hose, $28 (was $45) at WalmartEasy Up 80-Gallon Lockable Outdoor Deck Box, $55 (was $145) at WalmartIt still might feel a bit too chilly in some areas to get out and get gardening, but before you know it the sun will be high in the sky and the temperatures will be up in the 60s and 70s. And when that happens, you’re going to want the Snugniture Raised Garden Beds so you can start planting. 

The featured sing from BTS’s comeback album “Arirang” soared to the top of YouTube’s trending chart shortly after its release on Friday.