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Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
U.S. inflation battle: Mission not accomplished
Despite increasing interest rates and hawkish talk from the U.S. Federal Reserve chair Jerome Powell, the U.S. economy doesn’t look to be slowing down anytime soon. The U.S. Consumer Price Index (CPI) update for August came out on Wednesday and the headline inflation rate was higher than anticipated at 3.7%.
On one hand, the continued economic strength is obviously good news for job seekers and Americans trying to negotiate wage increases. If you prefer to focus on inflation rates, though, this labour market strength, combined with resilient price pressures, is really backing the U.S. Fed into a corner as far as raising interest rates is concerned.
In related news, the European Central Bank (ECB) also raised interest rates this week, lifting its key interest rate to 4% from 3…
