A news conference with Federal Reserve Chair Jerome Powell appears on a monitor on the floor at the New York Stock Exchange in New York, May 1, 2024. U.S.
The concern about a possible increase in layoffs suggests that the Fed needs to consider both of its policy goals: Stable prices and full employment. That is a shift from the previous two years, when the Fed was focused solely on curbing inflation, which reached a four-decade high in 2022 of 9.1 per cent, while the job market remained strong.
On Tuesday, financial markets drew encouragement from remarks Powell made during a monetary policy conference in Portugal. Powell said the Fed had made “quite a bit of progress” toward bringing inflation back to two per cent. U.S. President Joe Biden vowed to stay in the 2024 presidential race during a call with campaign staff on Wednesday and sought to reassure top Democrats on Capitol Hill that he is fit for re-election, despite his disastrous debate performance last week.More than 120 people died in a stampede after a religious gathering in northern India, making it one of the deadliest such accidents in recent years.
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One person was killed and two others were injured in a helicopter crash near the B.C.-Alberta border on Tuesday evening, according to the RCMP.Pro-Palestinian demonstrators at the University of Toronto, facing court orders to dismantle their weeks-old encampment, started to take down tents and tarps on Wednesday morning, though vowed to continue their campus activism.
No fees on field trips and a $40 maximum on school supplies are among a list of promises pledged by the superintendent of Manitoba's largest school division.Canada’s $10-a-day childcare program has created a financial crisis for a Regina daycare. The Scott Infant and Toddler Centre is burning through its cash reserves in order to remain open.The Regina Police Service has revealed that an investigation into a death over the weekend is now being considered a homicide.