Happy Friday, Chicago.

Today, our lead editorial digs into why Fulton Market’s once-blazing development pipeline has cooled. Only two major towers are financed and rising while more than 20 approved projects sit idle as investors balk at policy unpredictability and new-tax chatter. We urge City Hall to restore confidence and stabilize finances to get cranes back in the sky.

We also write with dismay over reports of ICE targeting a woman at the day care where she worked. We say that these agents should have stood down the moment the woman entered the day care center. Immigration enforcement and day cares are incompatible.

On the Opinion page, Tomas J. Philipson argues that drugmakers’ moves to charge foreign governments U.S.-level prices stem from President Donald Trump’s pressure campaign against overseas price controls. He warns that imposing similar caps at home would slash R&D and cost millions of lives.

Ald. Samantha Nugent warns that cutting Chicago’s library collections budget and getting rid of dozens of staff positions will gut essential services for residents who depend on Chicago’s public libraries for opportunity, literacy and support; she urges City Hall to treat library funding as the “moral document” it is.

And columnist David Greising is on the pensions beat again, warning that after Gov. JB Pritzker helped pare back an overstuffed transit bailout, he’ll soon need to apply the same fiscal discipline to stop unions from unraveling Tier 2 pension reforms the state can’t afford.

Don’t forget to check out reader letters.

— Hilary Gowins, editorial board member

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