By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Trending News AmericaTrending News America
Notification Show More
Font ResizerAa
  • Home
  • Business
  • Entrepreneurs
  • Finance
  • Future
  • GEO Politics
  • Investing
  • More
    • Markets
    • Personal Finance
    • Politics
    • Real Estate
Reading: Making sense of market volatility
Share
Font ResizerAa
Trending News AmericaTrending News America
  • Business
  • Entrepreneurs
  • Finance
  • Future
  • GEO Politics
  • Investing
  • Markets
  • Personal Finance
  • Politics
  • Real Estate
  • Privacy Policy
  • About Us
  • Contact
  • Terms and Conditions
Search
  • Business
  • Entrepreneurs
  • Finance
  • Future
  • GEO Politics
  • Investing
  • Markets
  • Personal Finance
  • Politics
  • Real Estate
Have an existing account? Sign In
© Trending News America. All Rights Reserved.
Trending News America > Blog > Investing > Making sense of market volatility
Donald Trump joined by women athletes signs the “No Men in Women’s Sports” executive order in the East Room at the White House on February 5, 2025
Investing

Making sense of market volatility

Team TNA
Last updated: June 14, 2025 10:49 pm
Team TNA Published June 14, 2025
Share
SHARE

The government claims to have put out a rigorous report to back up its opposition to gender-affirming care. But its methods are shoddy beyond belief.

Ad Policy

Donald Trump joined by women athletes signs the “No Men in Women’s Sports” executive order in the East Room at the White House on February 5, 2025

Donald Trump signs the transphobic “No Men in Women’s Sports” executive order in the East Room at the White House on February 5, 2025.

(Andrew Harnik / Getty Images)

On May 1, the Trump administration unveiled a 409-page US Health and Human Services report, which argues that gender-affirming care for minors should no longer be offered. In a press release, the HHS framed the report’s main finding this way: “Despite increasing pressure to promote these drastic medical interventions for our nation’s youth, the review makes clear: the science and evidence do not support their use, and the risks cannot be ignored.”

This finding has been presented as a purely scientific conclusion. The report, we are assured, is “evidence-based” in its approach, and its authors—who remain anonymous—“were chosen for their commitment to scientific principles.” Its ethos is to “follow the gold standard of science, not activist agendas.” And its results are neither prescriptive nor partisan, but neutrally informative: “It is not a clinical practice guideline, and it does not issue legislative or policy recommendations. Rather, it seeks to provide the most accurate and current information available.”

In fact, the report’s case against gender-affirming care is far from scientific. It is ultimately based not on objective evidence, but on subjective values. Quite literally, it is a morally based argument. (This is not to say that it is morally correct.) Thus the report does not, despite what the HHS claims, produce a newly impartial verdict to settle disputes over gender-affirming care for minors. It merely rehearses a familiar one-sided position.

This may not be surprising. But like the 2024 Cass Review that inspired it, the new HHS report will be cited, in months to come, by lawmakers seeking to ban gender-affirming care as solid scientific proof of their position. So it is worth looking closely at what the report actually says, and at precisely how it fails to deliver the objective finding it promises.

In its own words, the report offers an “ethical argument against PMT.” (PMT, or “pediatric medical transition,” is its term for gender-affirming care.) One might think that an ethical argument does not belong in what is supposed to be a literature review. But according to the report, an ethical argument is not out of place because science itself has proven that gender-affirming care is unethical. “It is not ethical,” the report firmly concludes, “to subject adolescents to hormonal and surgical therapies used in PMT.” But has science really proven this?

The authors clearly state what would count as scientific proof that a treatment is unethical. They write: “Informed consent is critically important, but before it is even a consideration, the intervention must be otherwise ethically permissible. For example, before asking whether patients can consent to any proposed intervention, from antibiotics to lobotomy, a clinician must determine whether the intervention has a favorable risk/benefit profile.”

Current Issue


Cover of July/August 2025 Issue

We are given a method here. To prove that a treatment is ethically permissible, one must determine that its risk/benefit profile is “favorable.” Concretely, the authors explain, this means calculating that the treatment’s “expected medical benefits outweigh the expected medical harms.”

Such a calculation can be scientific if it is based on objective evidence. For that to happen, clinical studies must first impartially estimate the “probabilities and magnitudes” of a treatment’s harms and benefits. Once these are known, the benefits and harms can be compared or “weighed” in a straightforward, if not mathematical, manner. Suppose, for instance, that a new antibiotic is being evaluated. Clinical studies have shown that it has a high probability of significantly reducing the infection that it targets. They have shown, as well, that in a small number of cases, the antibiotic produces discomforting but mild side effects. With this evidence in hand, one can judge in a minimally arbitrary way that the antibiotics’ benefits outweigh its harms—minimally arbitrary because this judgment is clearly based on and guided by impartial scientific evidence. Of course, not all treatment assessments can be as clear-cut as this. The crucial point here is simply that in principle, objective evidence can ground and guide an assessment of whether a treatment is ethical, and that such an assessment can be considered scientifically informed rather than arbitrarily decided.

The report wants us to think that its assessment of gender-affirming care is evidence-based and scientifically informed in just this way. “The claims made here about the probability and magnitude of harms and benefits,” it assures us, “are grounded in the best available evidence.” One thus expects that its weighing of gender-affirming care’s harms and benefits will also be based on evidence.

But the report then admits—albeit quietly, in a footnote—that its calculation is largely not based on scientific evidence. The report does draw estimates of the probabilities of gender-affirming care’s various outcomes from scientific studies. But its assessment of their magnitudes—its claims about how severe or significant those outcomes are—are drawn from what the authors forthrightly characterize as (their understanding of) moral common sense.

Here is the authors’ own admission. In many cases, “the probabilities are known with a high degree of certainty.” But “as for the nature of medical benefits and harms and their relative weights, the Review’s working assumptions cohere with common moral intuition, standard medical judgment as revealed in medical diagnostic criteria, and the outcomes of interest to clinicians and researchers, as well as the law.” So in deciding whether any given outcome counts as a benefit or a harm (“nature”), and in estimating the magnitude of each outcome (“relative weight”), the report relies not on evidence but on assumptions. And these assumptions are drawn not from science but from “common moral intuition,” what the authors think is “standard” or “of interest” for clinicians, and current law.

So the magnitudes of gender-affirming care’s benefits and harms are not known scientifically; they are assumed and intuited. This means that half the relevant evidence is missing, and yet the calculation still takes place. To see what the calculation then looks like, consider the example that the authors offer just after their admission. “For example, the analysis would conclude that a minor improvement in depressive symptoms does count as a benefit but that such a benefit, even if assured, does not outweigh moderate or even low but non-negligible risks of infertility or serious sexual dysfunction, loss of breastfeeding function, or lifelong medical dependency, which the Review considers harms.” We are presented with the “conclusion” that “low”-probability harms such as lost breastfeeding functions are so severe that they outweigh the “assured” but less significant benefit of relieved depression. But how was this conclusion reached, if there is no impartial scientific evidence of the magnitudes of the outcomes in question? It was reached by relying on “moral intuition,” which allows the authors to assume the “relative weights” of the outcomes from the start. The authors assume that lost breastfeeding function is a harm, that its importance is greater than that of relief of depression, and then judge the treatment that produces these effects as unethical on the basis of these assumptions.


Ad Policy

Popular

“swipe left below to view more authors”Swipe →

In the report’s own words, the calculation just considered is exemplary of its broader ethical analysis. The overall finding that the harms of the hormone and surgical treatments associated with gender-affirming care outweigh their benefits, and thus render them unethical, is enabled throughout the report not just by science but also by moral intuitions, clinicians’ interests, and what “the Review”—the anonymous authors—“considers harms.” In a word, the finding is based not finally on objective science but on subjective commitments and preferences.

This means that the value of the finding is quite limited. It does not have the standing of a proof or a hard fact. The authors themselves seem to know this. Responding to objections that their overall finding remains uncertain, the authors ultimately resort to pounding the table: “We can be certain in the ordinary sense of ‘certain’ that these interventions cause harm [that their harms outweigh their benefits] even if we do not have ‘high certainty’ evidence in the technical sense employed in evidence-based medicine.”

So what suffices for certainty is not based on science at all. By its own standards, the report provides no objective proof that gender-affirming care is unethical. What it provides instead is an unsubstantiated argument that results in nothing more than a certainty that gender-affirming care is wrong “in the ordinary sense of certain.”

This in a report that promised to “follow the gold standard of science.”

Imyself am not fully certain—scientifically or even in an ordinary way—about whether gender-affirming care is “ethically permissible.” I do believe that such care can be provided ethically, that its benefits can outweigh its harms, and that the ongoing legislative efforts to ban it have been based on gross misrepresentations of its practice and theory, and should thus be rejected. But this is a considered belief, based on what I have so far read and seen, no more or less. (It is worth noting that many have criticized the report’s interpretations of the existing scientific evidence, even in the chapters where the report does try to summarize it.) Unlike the authors of the report, I do not pretend to absolute certainty where I do not really have it.

What I am fully certain about is that the HHS offers no scientific proof that gender-affirming care is unethical. I am certain, as well, that the efforts to present it as containing such proof are deeply misleading if not outright deceitful. Maybe the report is right that our ethical judgments should be based on scientific calculation. Shame, then, that this is not what the report actually gives us.

Jaeyoon Park

Jaeyoon Park is an assistant professor of political science at Amherst College.

More from The Nation


President Donald Trump wears a baseball cap with military insignia and holds up a fist. He faces away from a crowd of troops at Fort Bragg who wear camouflage-printed fatigues and maroon berets. Some troops hold up their phones or American flags.

The quickest way for the United States to become fascist is by politicizing the military.

Jeet Heer


President Donald Trump smirks on the Truman balcony of the White House in Washington, DC, on June 4, 2025.

Sanford Levinson maintains that a peaceful breakup would be preferable to a divided polity, while Tarence Ray argues that the working class must remain united across state lines.

Column

/

Sanford Levinson and Tarence Ray


Atlantic editor in chief Jeffrey Goldberg speaks during the opening night of the New Orleans Book Festival at Tulane University on March 27, 2025.

Given advance warning of an impending war crime, the former cheerleader for the Iraq war decided his priority was to protect his scoop.

JoAnn Wypijewski


Signs are left on the ground including two that read “This was a kidnapping” and “Bring Kilmar home now!” as protesters break outside the US District Court for the District of Maryland on May 16, 2025, in Greenbelt, Maryland. Protesters rallied outside the court during a hearing for a Maryland resident from El Salvador, Kilmar Abrego Garcia, who was detained in a notoriously violent maximum-security prison in El Salvador.

Kilmar Abrego Garcia is just the latest example of cases in which the administration is finding the flimsiest of reasons to label undocumented immigrants as “criminals.”

Sasha Abramsky


A protester holds a sign that reads, ''Free Mahmoud Khalil.''

We have returned the question of our future to ourselves. It will be guaranteed by no passport, protected by no brutal superpower.

Sarah Aziza

You Might Also Like

Entrepreneurship in the Digital Age: How Technology Shapes Business Models

The Power of Compounding: Investing for the Future

Understanding the Importance of Financial Goals in Investing

Tips for First-Time Investors: Starting Your Journey

The Importance of Supply Chain Resilience in Modern Enterprises

Share This Article
Facebook Twitter Email Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Weekly Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Popular News
Defining Entrepreneurs: The Visionaries Behind Innovation
Entrepreneurs

Defining Entrepreneurs: The Visionaries Behind Innovation

Team TNA Team TNA July 15, 2025
Sudan war exacerbates risk of cholera and malaria: UNICEF
Trump sons unveil mobile carrier promising to ‘disrupt’ the industry, make phones in America
These Investments Will Lose Value By 2030 – Investment Watch Blog
MP Raghav Chadha Slams Public Sector Banks in Parliament, FM Sitharaman Responds – Bankpediaa
- Advertisement -
Ad imageAd image
Global Coronavirus Cases

Confirmed

0

Death

0

More Information:Covid-19 Statistics

Categories

  • news
  • Investing
  • Entrepreneurs
  • Markets
  • Business
  • Politics

About US

At Trending News America, we go beyond the headlines to bring you sharp, timely, and deeply researched insights across the most influential areas of modern life.
Quick Link
  • Privacy Policy
  • About Us
  • Contact
  • Terms and Conditions
Top Categories
  • Business
  • Entrepreneurs
  • Finance
  • Real Estate

Subscribe US

Subscribe to our newsletter to get our newest articles instantly!

© Trending News America. All Rights Reserved.
Welcome Back!

Sign in to your account

Lost your password?