The layoffs were announced on Tuesday and have affected some of the top manufacturers, including several bankers who took out loans that exceeded $100 million last year and attended an insider sales meeting for recent successful people, according to sources familiar with the situation.
U.S. household debt soared to a record $16.9 trillion from October to December last year, the largest quarterly increase in 20 years.
The Federal Reserve raised interest rates by a quarter of a point at the end of its two-day policy meeting, citing persistent inflation.
Rising interest rates are partially to blame for a slowdown in Canadians transitioning from renting to homeownership, Canada’s housing agency reported today.
The Bank of Canada won't be lowering its key lending rate this year despite financial markets already pricing in multiple cuts starting this fall, according to a senior economist at Vanguard.
