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Speaker Johnson Warns of Record-Breaking U.S. Government Shutdown

Speaker of the House Mike Johnson, R-La., praises President Donald Trump's peacemaking efforts leading to a ceasefire pausing two years of war in the Gaza Strip, at the Capitol in Washington, Monday, Oct. 13, 2025.  House Speaker Mike Johnson has cautioned that the ongoing U.S. government shutdown could become the longest in the nation’s history, as the political standoff between Republicans and Democrats shows no signs of easing. Now in its 13th day, the shutdown has already shuttered federal offices, closed museums, and disrupted air travel across the country. Thousands of federal workers face layoffs, while unions have begun legal challenges against the administration’s actions. Johnson, speaking at the Capitol, said he would not negotiate with Democrats until they suspend their healthcare-related demands and agree to reopen the government. “We’re barreling toward one of the longest shutdowns in American history,” he warned. Vice President JD Vance described the cuts as “pain...
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Bank of Canada’s Rate Decision Hangs in the Balance Amid Trade Turmoil and Election Uncertainty

The Bank of Canada is facing a tough call on its latest interest rate decision, with market expectations nearly split between a rate cut and a pause. The central bank has already made seven consecutive cuts since June 2024, bringing its policy rate to 2.75%. However, ongoing trade tensions with the U.S. and uncertainty surrounding the upcoming federal election have complicated the outlook.

Recent inflation data showed a slowdown, with March’s annual inflation rate cooling to 2.3%. This has given policymakers more room to consider another rate cut, but concerns remain about the broader economic impact of U.S. tariffs on Canadian businesses and consumers. Some economists argue that a cut is necessary to cushion the economy, while others warn that holding steady might be the safer move.

Governor Tiff Macklem has acknowledged the “pervasive uncertainty” created by shifting trade policies, stating that multiple economic outcomes remain plausible. With consumer confidence shaken and the housing market struggling, the Bank’s decision today could have significant ripple effects across the economy.

Will the Bank of Canada opt for another cut, or will it hold firm in the face of uncertainty? The answer will shape Canada’s economic trajectory in the months ahead.

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