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5 Things to Know Today — June 21, 2026

  Whether you're starting your week or wrapping up your weekend, here are the five Canadian money stories shaping your financial picture right now. 1 Canada Is Technically in a Recession — And the Political Fight Is On Canada's GDP contracted 0.1% on an annualized basis in Q1 2026, following a 1% decline in Q4 2025 — two consecutive quarters of negative growth that meet the textbook definition of a technical recession. Prime Minister Mark Carney has called it a "settling-in period" tied to his government's restructuring of the economy in response to the U.S. trade war. Conservative Leader Pierre Poilievre has been relentless in his counter-offensive, pointing to rising insolvencies, job losses and food bank usage as proof that the downturn is real, not technical. Many economists, including BMO's chief economist Douglas Porter, have noted that a future revision to Statistics Canada's data could erase the slim 0.1% contraction — meaning this may not ultimate...
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Trump Administration Expands Expedited Deportations Nationwide

The Trump administration has announced a significant expansion of the "expedited removal" policy, which allows for the swift deportation of undocumented immigrants who cannot prove they have lived in the U.S. continuously for two years or more. Previously limited to areas near the southern border, this policy can now be applied anywhere in the country.

The Department of Homeland Security (DHS) stated that this change aims to enhance national security and public safety while reducing government costs. The policy, which took effect on January 21, 2025, is part of a broader crackdown on immigration initiated by President Trump.

Critics argue that the expanded policy could lead to wrongful deportations and legal challenges. Until now, undocumented immigrants detained in the U.S. were given a notice to appear in immigration court, where they could present their case for asylum. The new policy bypasses this process, allowing for immediate deportation if the individual cannot prove their continuous residence in the U.S. for the required period.

The Trump administration has also rescinded guidelines that prevented immigration officers from making arrests in sensitive areas such as schools and churches. This move has raised concerns among immigrant communities and advocacy groups, who fear increased enforcement actions and potential abuses of power.

As the policy takes effect, it remains to be seen how it will impact the lives of undocumented immigrants and the broader immigration landscape in the United States.

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