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Liberal Ranks Grow as Michael Ma Joins Carney’s Team

                      Markham-Unionville MP Michael Ma crossed the floor to join the Liberals on Thursday. In a dramatic political shift on Parliament Hill, Michael Ma, the Member of Parliament for Markham–Unionville, announced on December 11, 2025, that he is leaving the Conservative caucus to sit with the Liberals . His decision follows weeks of consultation with constituents and family, and comes on the heels of Nova Scotia MP Chris d’Entremont’s defection last month. Ma explained that his move was motivated by a desire for “unity and decisive action for Canada’s future.” He praised Prime Minister Mark Carney’s leadership, describing it as a steady and practical approach to tackling pressing issues such as affordability, economic growth, community safety, and opportunities for young families. The floor-crossing is politically significant: the Liberals now hold 171 seats, just one short of a majority in the House of...
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Inflation Falls in June for First Time Since 2020

A closely-watched report on US inflation revealed that consumer price increases cooled further during the month of June. According to the latest data from the Bureau of Labor Statistics, the Consumer Price Index (CPI) declined by 0.1% over the previous month and increased just 3.0% over the prior year in June. This marks a deceleration from May’s flat month-over-month increase and the 3.3% annual gain in prices. Notably, it’s the first time since May 2020 that monthly headline CPI came in below 0%.

On a “core” basis, which excludes the more volatile costs of food and gas, prices in June climbed 0.1% over the prior month and 3.3% over last year—cooler than May’s data. Economists had expected a 0.2% monthly uptick in core prices and a 3.4% year-over-year increase.

The markets responded to this report, with the 10-year Treasury yield falling about 9 basis points to trade around 4.2%. While inflation has remained stubbornly above the Federal Reserve’s 2% target on an annual basis, recent economic data suggests that the central bank may consider cutting rates sooner than later. Markets are now pricing in a roughly 87% chance that the Federal Reserve will begin rate cuts at its September meeting.

This data adds to other rate cut signals across the labor market and economy. The labor market added 206,000 nonfarm payroll jobs last month, ahead of economists’ expectations. However, the unemployment rate unexpectedly rose to 4.1%, the highest reading in almost three years.

Notably, the Fed’s preferred inflation gauge—the core PCE price index—showed inflation easing in May, with a year-over-year change of 2.6%, in line with estimates and the slowest annual gain in more than three years.


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