The Federal Reserve raised its policy rate by 75 basis points on Wednesday, the third straight increase of that size and a sign that it is continuing its aggressive push to tame inflation. … READ MORE >
interest rates
Canada’s inflation declines amid cooling gas prices
Inflation declined by 0.3% in August for the second monthly decline in a row thanks to cooling gasoline and energy prices, … READ MORE >
Consumer sentiment rises to highest level since May
Consumer sentiment improved to 59.5 in September as inflation concerns eased, according to the University of Michigan’s index. … READ MORE >
Canada housing starts fall amid rising rates
Canada’s housing starts fell to 267,443 in August, a 3% drop from July, continuing the decline in the housing sector because of rising interest rates. … READ MORE >
U.S. August CPI: Core inflation arrives hot even as gas prices fall
Premature calls for the Fed to pause its campaign to tame inflation should be politely dismissed given the 0.1% increase in top-line inflation in August. … READ MORE >
Initial jobless claims drop to lowest level since May
The labor market showed continuing strength as last week’s new filings for jobless claims fell for the fourth week in a row. … READ MORE >
Bank of Canada increases policy rate to 3.25%
The Bank of Canada increased its policy rate by 75 basis points on Wednesday, bringing the overnight rate to 3.25%, and said that it would continue to reduce its balance sheet. … READ MORE >
Falling gas prices imply further inflation relief
This recent decline in gas prices should put downward pressure on top-line monthly inflation when the consumer price index for August is released on Sept. 13. … READ MORE >
Housing proved a drag on Canada’s economy in the second quarter
Canada’s real gross domestic product rose by 0.1% in June from May amid a slumping housing sector, and by 3.3% overall for the second quarter. … READ MORE >
Powell at Jackson Hole: From era of abundance to one of insufficient supply
Federal Reserve Chairman Jerome Powell was blunt in his remarks at Jackson Hole, Wyo.: “Reducing inflation is likely to require a sustained period of below-trend growth.” … READ MORE >