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Liberal Candidate Paul Chiang Steps Down Amid Controversy

Paul Chiang, a Liberal candidate in the Markham-Unionville riding, has announced his resignation following backlash over comments he made regarding a Conservative opponent, Joe Tay. Chiang suggested that individuals could claim a bounty offered by Hong Kong authorities by turning Tay over to the Chinese consulate. This statement, made during a press conference in January, sparked widespread criticism and raised concerns about foreign interference in Canadian politics. The Royal Canadian Mounted Police (RCMP) has since launched an investigation into the matter, citing potential threats to Canada's democratic processes. Chiang issued an apology, calling his remarks a "deplorable lapse in judgment," but the controversy persisted. Conservative leader Pierre Poilievre condemned the comments, stating that they endangered Tay's safety and sent a chilling message to the community. Chiang's resignation comes as Liberal leader Mark Carney faces mounting pressure to address ...
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Fed Holds Rates Steady: Investors React

 


The Federal Reserve’s decision to hold interest rates steady at the end of its January meeting has been met with mixed reactions from investors. While some investors were hoping for a rate cut, others are pleased with the Fed’s decision to maintain the status quo. The Fed’s decision was based on the progress it has made in defeating inflation, which has been a major concern for policymakers in recent months.

The 10-year Treasury yield dipped after the Fed’s announcement, as investors digested the latest interest rate decision and clues about the policy path ahead. The stock market also took a hit after Fed Chair Jerome Powell suggested that the Fed may not cut rates in March.

Despite the mixed reactions, the Fed’s decision to hold rates steady is a sign of confidence in the economy’s strength. The Fed’s official target is a 2% annual rate of inflation, and prices rose 2.6% from a year ago as of December 2023. The improving inflation picture is giving policymakers room to slow their fastest rate-hiking regime since the 1980s.


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