The Bank of Canada made a poor prediction on what Canada’s inflation level would be at the end of 2022, said the bank’s governor, Tiff Macklem. He had previously said he expected the national inflation level to be around 2 percent by the year’s end. “That’s a very big forecast error,” Macklem told the Globe…
Bank of Canada Made Poor Prediction on End-of-Year Inflation Level, Governor Says
Fed Raises Interest Rates by 0.5 Percentage Point to a 15-year High
December 14, 2022
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The Federal Reserve voted to raise the benchmark federal funds rate by 50 basis points, to a target range of 4.25–4.5 percent at the December policy-setting meeting of the Federal Open Market Committee (FOMC), the highest level since late 2007. In total, the Federal Reserve has raised interest rates seven times since March, totaling 425…
Fed Raises Interest Rates by 0.5 Percentage Point to 15-Year High
December 14, 2022
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Business & Marketseconomic policieseconomyFederal ReserveFOMCinflationinterest ratesPolicies & ImpactsUSUS News
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Federal Reserve policymakers voted on Dec. 14 to raise the benchmark federal funds rate by 50 basis points to a target range between 4.25 percent and 4.5 percent, the highest level since late 2007. The Fed’s Federal Open Market Committee (FOMC) has boosted interest rates seven times since March, totaling 425 basis points. During a post-meeting press…
UK Unemployment Rate Rises as Jobs Market Shows Signs of Weakening
Britain’s rate of unemployment has risen again and the number of vacancies fell back further in a sign of a weakening jobs market, official figures have shown. According to the latest data from the Office of National Statistics (ONS), the UK unemployment rate rose to an estimated 3.7 percent in the three months to October,…
Fed Chair Offers Guidance
Commentary Federal Reserve (Fed) Chairman Jerome Powell spoke frankly on Nov. 30. His thoughtful and balanced talk made clear that the Fed sees the inflation fight as its priority. He explained the uncertain timing between Fed action and its impact on inflation but made clear that further interest rate increases are integral to the effort. Unlike…
Biden Admin and Fed Market Distortion
December 9, 2022
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Commentary Federal Reserve control over interest rates, combined with government money creation, distorts markets, causing booms and busts, high household debt, government deficits, and high real estate and education prices. President Joe Biden’s student loan forgiveness program will increase educational costs while increasing government spending by as much as $1.6 trillion. The market for nearly…
Prices of Detached and Semi-Detached Homes Hit Hardest by Rising Interest Rates: Report
Prices of detached and semi-detached homes took the hardest hit in the Greater Toronto Area (GTA) last month as sales across all home types continue to be impacted by increased borrowing costs due to higher interest rates, a new report says. Released by the Toronto Regional Real Estate Board (TRREB) on Dec. 5, the report…
Is Now the Right Time for Your Business to Buy Real Estate?
For small businesses hoping to establish or expand their brick-and-mortar presence, it may seem like a bad time to sink cash into a commercial property purchase. Amid predictions of an upcoming recession, the Federal Reserve increased the federal funds rate for the sixth time in 2022, citing inflation risks and global conflict. Inevitably, this will…
Do You Really Need a Retail Credit Card with a Very High Interest Rate?
Credit cards make it easy to buy the things you want without carrying cash around. As long as you are in the introductory period, there is no problem. But when the high interest rate kicks in and you have a balance, it can be hard to reduce your debt. New Interest Rates Higher Than Ever…
US Economic Outlook Darkens as CBO Projects Higher Inflation, Slower Growth
The Congressional Budget Office (CBO) issued a pessimistic outlook for the economy this week, shortly after the Federal Reserve Chair Jerome Powell suggested that lower interest rate increases are likely on the horizon. In a Nov. 30 letter responding to questions posed by Sen. Steve Daines (R-Mont.) regarding the CBO’s current view of the economy, the office…
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