Treasury Secretary Janet Yellen gave her most direct admission yet that she made an incorrect call last year in predicting that elevated inflation wouldn’t pose a continuing problem.
— Read on www.bloomberg.com/news/articles/2022-05-31/yellen-says-i-was-wrong-last-year-on-the-path-of-us-inflation
Category: Blog
Bank of Canada Set to Deliver Another Jumbo Rate Hike: Decision Guide
(Bloomberg) — The Bank of Canada is set to take another aggressive step in its hiking cycle, moving swiftly to tame inflation by bringing its policy interest rate back to a more neutral level.Most Read from BloombergReady to Buy a House? Just Wait a Few WeeksSoros’s Money Manager Warns Recession ‘Inevitable’ But Market Timing Is OffGiant Deep Ocean Turbine Trial Offers Hope of Endless Green PowerChinese Banks Overflow With Cash That Nobody Wants to BorrowStocks End a Volatile Month Right Where
— Read on ca.finance.yahoo.com/news/bank-canada-set-deliver-another-173000030.html
Ranked: Visualizing the Largest Trading Partners of the U.S.
U.S. trade of goods amounted to nearly $4.6 trillion in 2021, and Canada, Mexico, and China were the country’s biggest trading partners.
— Read on www.visualcapitalist.com/us-largest-trading-partners-2022/
China faces a nearly $1 trillion funding gap. It will need more debt to fill it.
The Chinese government faces a growing shortfall of cash, analysts say, as they predict an increase of debt to fill the gap.
— Read on www.cnbc.com/2022/05/31/china-faces-a-nearly-1-trillion-funding-gap-it-will-need-more-debt-to-fill-it.html
Ethereum could ‘take over everything’, and there won’t be a multi-chain future, says EY’s blockchain leader – MarketWatch
A weekly look at the most important moves and news in crypto and what’s on the horizon in digital assets.
— Read on www.marketwatch.com/story/ethereum-could-take-over-everything-and-there-wont-be-a-multi-chain-future-says-eys-blockchain-leader-11653589743
U.S. wage increases show signs of peaking in welcome sign for Fed – BNN Bloomberg
U.S. wage increases show signs of peaking in welcome sign for Fed – BNN Bloomberg
— Read on www.bnnbloomberg.ca/u-s-wage-increases-show-signs-of-peaking-in-welcome-sign-for-fed-1.1771353
Survey shows 55% of homeowners strapped for extra costs – BNN Bloomberg
Survey shows 55% of homeowners strapped for extra costs – BNN Bloomberg
— Read on www.bnnbloomberg.ca/survey-shows-55-of-homeowners-strapped-for-extra-costs-1.1771382
Federal government posts $95.6 billion deficit for 2021-2022 fiscal year
OTTAWA — The federal government posted a deficit of $95.6 billion for its 2021-22 fiscal year. In its monthly fiscal monitor report, the Finance Department says the tally for the April 2021 to March 2022 period compared with a deficit of $314.0 billion a year earlier. Program expenses, excluding net actuarial losses, totalled $457.3 billion, down from $577.6 billion a year earlier due in large part to lower transfers to businesses, individuals, and other levels of government. Public debt charges
— Read on ca.finance.yahoo.com/news/federal-government-posts-95-6-151048162.html
Job vacancies hit record in Canada’s tight labour market – BNN Bloomberg
Job vacancies hit record in Canada’s tight labour market – BNN Bloomberg
— Read on www.bnnbloomberg.ca/job-vacancies-hit-record-in-canada-s-tight-labour-market-1.1771058
Stocks rise after Fed signals further rate hikes, Dow jumps nearly 200 points
Stocks rose Wednesday after the minutes from the Fed’s latest policy meeting showed the central bank could raise rates further than anticipated.
— Read on www.cnbc.com/2022/05/24/stock-market-futures-open-to-close-news.html