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Trump Targets Fed Chair Powell Over Renovation Costs

  In a dramatic escalation of his long-standing feud with Federal Reserve Chair Jerome Powell, former President Donald Trump has signaled a potential path to remove Powell from office—citing alleged mismanagement of a $2.5 billion renovation project at the Fed’s Washington headquarters. The renovation, which includes upgrades to aging infrastructure and removal of hazardous materials like asbestos, has ballooned in cost over the years. Trump and his allies claim the project includes extravagant features such as rooftop gardens, VIP dining rooms, and premium marble—claims Powell has publicly denied. The Fed insists the renovations are necessary and cost-effective in the long term, consolidating staff and reducing rental expenses. While the Supreme Court has affirmed that a president cannot dismiss the Fed chair over policy disagreements, Trump may be attempting to build a case for removal “for cause,” alleging Powell misled Congress about the renovation’s scope and budget. Criti...
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Maximizing Your TFSA: Year-End Maintenance Tips

As the end of the year approaches, it's crucial to take some time to review and maintain your Tax-Free Savings Account (TFSA). Regular maintenance ensures you're making the most of the benefits offered by this versatile investment vehicle. Here are a few key steps to consider before the year wraps up:


1. Review Your Contributions

Check your contribution limit for the year and ensure you haven't exceeded it. Over-contributing can result in penalties from the Canada Revenue Agency (CRA). If you have unused contribution room, consider making additional contributions to maximize your tax-free growth .

2. Assess Your Investment Portfolio

Take a look at the investments within your TFSA. Are they aligned with your financial goals? Diversifying your investments can help manage risk and enhance potential returns. Consult with a financial advisor if needed to make informed decisions .

3. Monitor Withdrawals and Transfers

Remember that any withdrawals made this year will create equivalent contribution room for the following year. If you plan to make withdrawals, strategize to optimize your tax-free growth. Additionally, consider if you need to transfer funds between accounts or make other adjustments .

4. Stay Informed About New Rules and Limits

Tax laws and contribution limits can change. Keep yourself updated with the latest TFSA rules and contribution limits to ensure compliance and take full advantage of the account’s benefits.

5. Plan for the Future

Think ahead to your financial goals for the upcoming year. Setting clear objectives for your TFSA can help you stay on track and maximize your savings.


Conclusion

Regular TFSA maintenance is essential to maximize the benefits of this powerful savings tool. By reviewing your contributions, assessing your investments, monitoring withdrawals, staying informed, and planning for the future, you can make the most of your TFSA and secure your financial future.



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