Evening Update: Bank of Canada’s Tiff Macklem says overheating labour market must cool to fight inflation

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On Wall Street, the S&P 500 and Nasdaq racked up their biggest daily percentage gains in over 2 years, as a sign of slowing inflation in October sparked speculation the Federal Reserve might get less aggressive with interest rate hikes. The S&P 500 gained 5.48 per cent to end at 3,954.10 points, while the Nasdaq Composite gained 7.2p per cent to 11,107.66. The Dow Jones Industrial Average rose 3.64 per cent to 33,696.52.

 

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Let's start with Tiff losing his job.

The real reason for inflation is the bank creating a bunch of new $$ out of thin air

Easier pill to take if this guy didn’t come across as out of touch with the average person. Seriously, people losing jobs, housing, lacking med help and it is for their own good? Basically your loss now will save everyone else later. Gee, Thanks (not)!

so we need more uneploymwnt? so ppl can go to foodbanks?

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