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1 in 4 Canadians Can Only Afford the Minimum Payment on Their Credit Card

  Published August 24, 2026 · Canadian Money Brief A new survey from Equifax Canada puts a hard number on something a lot of us have felt creeping up all year: credit cards are doing more of the heavy lifting in Canadian budgets, and fewer people are paying them off. Of more than 1,500 Canadians surveyed, a quarter said they expect to make only the minimum monthly payment on their credit card, and another 7% think they'll fall behind entirely. That leaves just over half — 56% — who expect to pay their balance in full each month. The survey also found that 40% of respondents are spending more overall than they were a year ago, more than double the 18% who say they're spending less. Nearly 3 in 10 said they're leaning more heavily on credit cards to cover essentials like groceries and utilities, and close to a quarter are dipping into savings to keep up with everyday costs. More than a third have cut back on contributions to savings, investments, or education funds to make ro...
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Trump Reaffirms No Plans to Remove Powell Amid DOJ Probe

 

                                            Federal Reserve Chair Jerome Powell arrives at the U.S. Federal Reserve
                                            in Washington, U.S., January 13, 2026.


U.S. President Donald Trump said he does not currently intend to fire Federal Reserve Chair Jerome Powell, even as Powell faces a criminal investigation by the Department of Justice over alleged cost overruns tied to the Fed’s headquarters renovation project.

In an interview, Trump emphasized that he has “no plan” to remove Powell but noted that it is still “too early” to determine whether the investigation could influence future decisions. He described the situation as a “holding pattern,” suggesting the administration is waiting for more clarity before taking any action.

Powell, whose term as Fed chair ends in May but who can remain on the Board of Governors until 2028, recently disclosed that the DOJ had issued grand jury subpoenas and threatened possible indictment. He has denied wrongdoing and argued that the probe is politically motivated.

Trump also hinted that he is considering potential successors, mentioning former Fed Governor Kevin Warsh and National Economic Council Director Kevin Hassett as strong candidates should a leadership change occur.


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