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Canada's Economy Is Slowing: 5 Money Moves to Make Before Year-End

  Canadian Money Brief | October 22, 2026 Canada's economic outlook has weakened, and that is a good reason to take a fresh look at your finances before the end of the year. The Parliamentary Budget Officer's October outlook projects real GDP growth of just 0.9% in 2026, down from its earlier forecast of 1.1%. The report points to changing trade conditions and U.S. tariffs as key pressures. This does not mean a recession is guaranteed. But when the economy faces uncertainty, a few practical steps can help households stay prepared and avoid unnecessary costs. 1. Review your monthly budget Check your last two or three months of bank and credit-card statements. Look for subscriptions you no longer use, recurring fees, food waste, and purchases that can be delayed. Even small cuts can free up cash for savings or debt repayment. Try this: Choose one spending category to reduce this month and move the money you save into a separate savings account. 2. Build or top up your emergency ...
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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.

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