Skip to main content

Featured

Fed Poised for First 2025 Rate Cut as Weak Jobs Data Outweigh Inflation Concerns

  The Federal Reserve seal at its Washington, D.C. headquarters, where policymakers are set to decide on the first interest rate cut of 2025. The U.S. Federal Reserve is expected to lower its benchmark interest rate by 25 basis points today, marking its first rate cut of 2025 and the first since December last year. The move would bring the federal funds target range down to 4.00%–4.25%, as policymakers respond to slowing job growth and rising unemployment, even as inflation remains above the Fed’s 2% target. Recent labor market data showed just 22,000 jobs added in August, with earlier months revised downward, while the unemployment rate has climbed to around 4.3%. Inflation, measured by the Fed’s preferred PCE index, has edged higher in recent months, partly due to tariffs pushing up consumer prices. Markets have largely priced in the cut, with investors watching the Fed’s updated “dot plot” for clues on whether more reductions will follow in October and December. The decision ...
Post a Comment
Read more

article

Labels

Union Escalates Fight Against CRA Job Cuts with Nationwide Campaign

                    The Canada Revenue Agency (CRA) national headquarters in Ottawa on June 28, 2024.

The Union of Taxation Employees (UTE) has launched the second phase of its “Canada on Hold” campaign, intensifying opposition to widespread staffing cuts at the Canada Revenue Agency (CRA).

Initially focused on call centre layoffs, the campaign now highlights job losses across the agency, with union president Marc Brière warning that nearly 10,000 positions have been eliminated since May 2024. The UTE argues the cuts are undermining service to taxpayers and businesses, leading to longer wait times and reduced support.

The union plans a rally outside the Prime Minister’s Office on Friday, urging the federal government to reinvest in CRA staffing. The escalation comes after Finance Minister François‑Philippe Champagne gave the agency 100 days to address call centre delays, even as Ottawa pursues broader public service spending reductions.


Labels:

Comments

Post a Comment