Powell: Fed still on track to cut rates
Says recent data showing signs of persistent inflation don’t materially change the overall picture
- By: Christopher Rugaber, The Associated Press
- April 3, 2024 April 3, 2024
- 12:38
Says recent data showing signs of persistent inflation don’t materially change the overall picture
AI products gain favour, while crypto ETFs see outflows
Toronto sales down 4.5%, Vancouver down 4.7%
Price rises slow down in two biggest economies: Germany and France
Province also extends gas tax cut by three months, doubles the fertility tax credit and changes property taxes
Involvement with crypto amounted to undisclosed outside business activity, personal financial dealings
Regulator failed to meet burden of proof on all counts
Improvements were due to strong equity performance and interest rate increases
Plus, changes at IG Wealth and CIBC Mellon
And a Deloitte report finds Canada could dodge a recession
Agency has spent more administering the UHT than it has assessed so far
Meanwhile, the U.S. stock market held relatively steady near its records
Paper calls for guardrails against negative side effects of digital innovation
Asset performance to weaken as growth slows and inflation, rates face pressure
Shell companies, crypto exchange processed US$470 million in drug money
In series of legal filings, regulator claims exclusive jurisdiction
Project designed to avoid creating needless burden with new regime
The Fed left its benchmark interest rate unchanged for 3rd straight meeting on Wednesday
U.S. subsidiary of CI Financial seeks to plug "gap" in Canadian ultra-high-net-worth market
Meanwhile, Canadian direct investment abroad rose 2.8% to $2.4 trillion
Powell has signalled he could stay on Fed board after term as chair ends May 15
Seasoned ETF exec will help asset manager build "an entire footprint" in the country
Plus, another BMO alum joins software firm, new faces at Manulife and Optimize Wealth, and more
Plus, a new gold bullion mutual fund and a slew of product lineup changes
Clarity for clients makes it easier to shop across carriers
At the same time, both fund types recorded positive net sales