Skip to main content

Featured

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...
Post a Comment
Read more

article

Labels

Trump Predicts Powell’s Exit in Eight Months Amid Fed Criticism

 


Trump Targets Fed Chair Powell Over Interest Rates and Spending

In a sharp rebuke during a White House press conference, U.S. President Donald Trump declared that Federal Reserve Chair Jerome Powell will be out of office in eight months, despite Powell’s official term running until May 2026. Trump criticized Powell for maintaining high interest rates, calling him a “numbskull” and suggesting political motives behind the Fed’s monetary policy.

“Our economy is so strong now, blowing through everything. We’re setting records,” Trump said. “But you know what? People aren’t able to buy a house because this guy keeps the rates too high”. He argued that the Fed should lower rates by three percentage points from the current 4.25%–4.50% range.

The president also took aim at the Federal Reserve’s $2.5 billion renovation of its Washington headquarters, questioning the necessity and oversight of the project. Treasury Secretary Scott Bessent echoed these concerns, calling for a “big internal investigation” into the Fed’s non-monetary activities.

Powell has previously stated he does not intend to leave his post early, and analysts remain puzzled by Trump’s eight-month timeline, which would place Powell’s departure in mid-March 2026.

The remarks come ahead of the Federal Open Market Committee’s upcoming meeting, where officials are expected to keep rates steady while monitoring inflation and employment trends.

Labels:

Comments

Post a Comment