US Trade Deficit Stabilizes as Post-Tariff ‘Front-Loading’ Fades
US trade deficit rebounded to USD 56.8 billion in November after recording a USD 29.2 billion shortfall, the smallest monthly since 2009, in the previous month, the US Census Bureau reported Thursday.
Canada Labor Market Watch
Canada's unemployment rate dropped substantially and unexpectedly to 6.5% in November, from 6.9% in the prior month, showing signs of a much-needed resiliency in the North American economy.
Canada GDP Q3 2025
While GDP rebounded by 0.65% in Q3 (2.6% annualized), the expansion was driven almost entirely by a 2.2% drop in imports.
Canada GDP rebound masks lackluster domestic demand
The Canadian economy saw a significant rebound in the third quarter. A 0.65% expansion in the quarter was more than enough to recover the downwardly revised 0.47% contraction in the previous second quarter.
The Fed’s ‘leaky ceiling’ problem
Why is the Fed's SRF failing? Top Fed officials called the issue a "leaky ceiling" that doomed Quantitative Tightening (QT). Learn how low bank participation and the leaky floor analogy suggest new policy changes.
If the Fed ends QT too soon, it risks discrediting its ceiling tools
Analysts are expecting the Federal Reserve to announce the end of quantitative tightening (QT) at the upcoming meeting this week. The speculation is fueled by Chairman Jerome Powell's speech earlier this month in which he mentioned the supply of reserves may reach an "ample" level "in coming months."
Will QT finish before Powell’s chairman term ends?
Quantitative tightening (QT) may reach its end point "in the coming months," said Federal Reserve Chairman Jerome Powell in a speech last week.
What does it mean? Will QT finish before Powell's chairman term ends?
Bank of Canada drops interest rate to 2.5% — also a risk management cut
After holding the policy rate unchanged in the past three meetings, Bank of Canada on Wednesday resumed its rate cut cycle, lowering its target for the overnight rate by 25 basis points to 2.5%.
September FOMC Meeting: The Potential Dissenters
The Federal Reserve is expected to cut its benchmark interest rate by 25 basis points this week. This has been the baseline market assumption since Chairman Jerome Powell's speech at Jackson Hole, in which he proclaimed, “the shifting balance of risks may warrant adjusting our policy stance."
The question is, how many dissenting votes will Powell face in this meeting?
US PPI drops to 2.6% in August— a tale of two service prices
The Producer Price Index for Final Demand (PPI-FD) declined 0.1% MoM in Aug, bring the annual increase down to 2.6% from 3.1% in the previous month.
