Aug 1, 2025 | Notes from the Desk
Today’s report calls into question Chairman Powell’s view that the labour market is in balance. The Numbers. 73k jobs created vs 104k expected The previous two months’ payrolls were revised lower by 258k vs an expected 16k increase This brings the...Jul 31, 2025 | Notes from the Desk
As expected, the BoC held rates steady at 2.75%. Today’s decision was accompanied by an updated Monetary Policy Report (MPR), in which the Bank provided economic forecasts based on three trade scenarios: current tariffs, de-escalation, and escalation. The noteables....Jul 31, 2025 | Notes from the Desk
Chairman Powell clearly prefers to be remembered as ‘Too Late Powell’ rather than as ‘Push Over Powell’, as the FOMC held the policy rate steady at 4.25-4.50%. The meeting marked the first time since December 1993 that two committee members dissented from the vote....Jul 4, 2025 | Notes from the Desk
It appears that the Fed can take the summer off, with job creation in June exceeding expectations. The numbers. 147k jobs were created, beating expectations of 106k. The prior two months were revised up by 16k. The mix was a touch weak, with state and local government...May 7, 2025 | Notes from the Desk
It came as no surprise that the Fed held rates steady for a third consecutive meeting. The statement. The FOMC notes that ‘the risks of higher unemployment and higher inflation have risen’. The decision to hold rates was unanimous. The presser. Chairman Powell ducked...Apr 16, 2025 | Notes from the Desk
The Bank of Canada opted to hold rates steady to assess the fallout from the trade conflict with the US. Furthermore, the Bank offered little forward rate guidance, opting to maintain maximum flexibility in an uncertain environment. The Bank provided some insights...
