The U.S. economy is in a good spot heading into the second half of 2026 as the labor market is at full employment while job growth and wages do not imply second-round risks to the economy via the inflation channel. … READ MORE >
Joseph Brusuelas
Market Minute: Lagging wages are the root of the affordability crisis
Although core inflation looks a bit more benign than topline inflation, RSM expects July’s U.S. labor data to reflect flat growth in real wages amid an ongoing affordability crisis. … READ MORE >
Inflation peaked in May—but return to pre-war levels not coming soon
While it is highly likely that U.S. inflation peaked in May, one should not anticipate a return to pre-war levels of inflation any time soon. … READ MORE >
Bank of Canada holds interest rate amid global uncertainty, domestic strain
The Bank of Canada kept its key interest rate at 2.25 per cent—a fifth consecutive hold—due to the elevated level of uncertainty around the direction of the domestic economy and the global financial implications of the war in the Middle East. … READ MORE >
Bank of Canada holds interest rate again as economic uncertainty mounts
The Bank of Canada again maintained its key interest rate in a decision that provided little in the way of new information or an updated evaluation on the rapidly changing global economic environment. … READ MORE >
Bank of Canada holds interest rate again amid global economic disruptions
The Bank of Canada held its key interest rate amid domestic economic slack and wider disruptions due to the ongoing war in the Middle East. … READ MORE >
Bank of Canada holds interest rate again—and may stay put this year
The Bank of Canada maintained its key interest rate at 2.25 per cent. At this juncture—all things being equal—we do not expect the central bank to change its policy rate this year. … READ MORE >
Bank of Canada prudently holds interest rate ahead of 2026 challenges
The Bank of Canada held its key interest rate at 2.25 per cent—a prudent pause as the country’s labour market remains soft and unemployment remains elevated. … READ MORE >
Market Minute: Economies in Asia keep growing, no matter the U.S. tariff rate
Economies in Asia continue to grow despite U.S. disruptions to the global supply chain. … READ MORE >
Market Minute: Canada’s financial conditions and its monetary policy path
Policy rate cuts by the Bank of Canada and the U.S. Federal Reserve are in response to both countries’ economies absorbing adverse policy shocks along with a slowing pace of hiring and wage growth. … READ MORE >