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Trump–Powell Showdown Intensifies as White House Floats Criminal Charges

                                                       Donald Trump and Federal Reserve Chair Jerome Powell A dramatic escalation in the long‑running tension between President Donald Trump and Federal Reserve Chair Jerome Powell has thrust the independence of the U.S. central bank into the spotlight. The conflict deepened after Powell disclosed that the Department of Justice had issued grand jury subpoenas to the Federal Reserve—an action he suggested was politically motivated. The inquiry centers on Powell’s congressional testimony about cost overruns tied to a Federal Reserve building renovation. Powell has dismissed the investigation as a pretext, arguing that the administration’s real aim is to pressure the Fed into cutting interest rates more aggressively, a move Trump has repeatedly demanded. The threat of potential...
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Canada's Inflation Rate Rises as GST Holiday Ends


Canada's annual inflation rate surged to 2.6% in February, up from 1.9% in January, according to Statistics Canada. This increase follows the conclusion of the federal government's two-month GST/HST holiday, which had temporarily reduced prices on various household staples, gifts, and restaurant bills. The tax break ended mid-February, contributing to a notable rise in consumer prices.

Economists had anticipated a more modest inflation increase to 2.2%, but the actual figures exceeded expectations. Without the tax holiday in place for half the month, inflation would have reached 3%, highlighting the significant impact of the temporary measure.

While gas prices saw a slight monthly increase, their annual comparison showed a deceleration, helping to moderate the overall inflation rate. However, provinces like Ontario and New Brunswick experienced the fastest price accelerations, reflecting regional variations in consumer costs.

This development comes as the Bank of Canada continues to monitor inflation trends closely, especially in the context of ongoing economic challenges. The end of the GST/HST holiday underscores the complexities of balancing temporary relief measures with long-term economic stability.

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