A forthcoming U.S. Supreme Court decision on President Donald Trump's use of emergency tariff powers could jolt financial markets, especially if the justices strike down the tariffs. The case, which could come as early as Friday,

In an interview with The New York Times, Trump said he will not need congressional approval for the checks, fueled by revenue collected from his sweeping tariffs, to come to fruition. When asked when Americans can see the funds hitting their wallets, he replied: “I would say toward the end of the year.”

Crucially, the ruling does not have to be all-or-nothing. The court could narrow the scope of the emergency powers, limit repayment obligations, or restrict how tariffs can be used in the future without fully dismantling the current regime.

Traders are betting on turmoil ahead of Friday’s ruling, but a Wall Street legend is floating a different idea.