RE:RE:RE:Bank of Canda raises 1/4 point"Pain" is exactly what Powell warned about (and our economy normally follows the US). The pain is only just now reaching the heavily indebted. If it wasn't for Freeland secretly allowing banks to extend amortizations for those under water on their mortgage payments to 40 years, even some to 80 years,, the housing market would have collapsed here.
clubhouse19 wrote: There is going to be lots of pain to get back to 2 % as prices continue to rise and so are wages.
More and more moneys will be used to pay for rising mortgage payments leaving less and less for everything else.
China is doing much worse than expected as there exports fell more than their imports and their trade surplus declined considerably.
If it wasn't for Europe, China would be in much worse shape.