Last weeks economy update

The economic skies turned gloomy last week, causing the TSX to drop by 4%, the S&P by 3%, and the Nasdaq by 3.5%.

Canada’s August inflation rate rose to 4% year-over-year, and the U.S.

Fed chair delivered a stern message at his monthly policy meeting, indicating a readiness to raise rates if necessary.

The possibility of rates staying high for longer than anticipated has sent interest rate expectations soaring to levels not seen since the 2008 financial crisis.
We eagerly await the next round of data to shed more light on the situation.