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Monday’s CPI Could Decide Your Next Mortgage Payment

  Canada lost 68,000 jobs in September. Inflation is sitting at 3%. The Bank of Canada has to decide on October 28 which of those facts matters more, and on Monday morning one more number lands to help it choose. If you carry a variable-rate mortgage, a HELOC or a renewal this winter, that number has a price tag. Two reports pulling in opposite directions The jobs data came first. Statistics Canada reported on October 9 that employment fell by 68,000 in September, pushing the unemployment rate to 6.5% from 6.4%. It followed a drop of about 42,000 in August, which means more than half of the 181,000 jobs gained between April and July have now been wiped out. Ontario shed 20,000 positions on its own. Markets reacted within hours: the odds of a quarter-point Bank of Canada hike on October 28 dropped to roughly 25% from about 40%, according to LSEG data reported by Reuters. Inflation is telling the opposite story. The consumer price index rose 3.0% year over year in August, matching Ju...
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Supreme Court Greenlights Trump’s Federal Workforce Overhaul

In a landmark decision, the U.S. Supreme Court has lifted a lower court’s injunction, allowing President Donald Trump to proceed with sweeping plans to restructure federal agencies and implement mass layoffs across the government.

The executive order, issued in February, directs agencies to prepare for large-scale reductions in force (RIFs), potentially affecting hundreds of thousands of federal employees. The administration argues the move is essential to streamline operations and eliminate inefficiencies.

The court’s unsigned ruling emphasized that it was not evaluating the legality of specific agency plans but found the executive order itself likely lawful. Justice Sonia Sotomayor concurred, noting that lower courts remain free to assess the constitutionality of individual agency actions. Justice Ketanji Brown Jackson dissented, calling the decision “hubristic and senseless,” warning of irreversible damage to public services.

The ruling marks another victory for Trump’s administration, which has faced repeated legal challenges in its efforts to reshape the federal government. Advocacy groups and labor unions behind the lawsuit expressed disappointment, vowing to continue fighting what they describe as an unconstitutional power grab.

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