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Trump–Powell Showdown Intensifies as White House Floats Criminal Charges

                                                       Donald Trump and Federal Reserve Chair Jerome Powell A dramatic escalation in the long‑running tension between President Donald Trump and Federal Reserve Chair Jerome Powell has thrust the independence of the U.S. central bank into the spotlight. The conflict deepened after Powell disclosed that the Department of Justice had issued grand jury subpoenas to the Federal Reserve—an action he suggested was politically motivated. The inquiry centers on Powell’s congressional testimony about cost overruns tied to a Federal Reserve building renovation. Powell has dismissed the investigation as a pretext, arguing that the administration’s real aim is to pressure the Fed into cutting interest rates more aggressively, a move Trump has repeatedly demanded. The threat of potential...
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Guaranteed Investment Certificates (GICs): A Safe Bet for Steady Returns



If you’re looking for a low-risk investment option, Guaranteed Investment Certificates (GICs) could be a good choice. A GIC is a savings product that works like a loan you make to a financial institution. You receive a guaranteed rate of interest, but your money is typically locked into the account for a pre-determined amount of time, which can range from 30 days to 10 years. The longer the term, the higher the interest rate you’ll receive. Interest can be paid out either monthly, quarterly, annually or at maturity. At the end of the term, you are paid back your full principal, plus any interest still owing. However, if you withdraw your money early, you might have to pay a penalty.

GICs are considered very safe investments and are popular among investors who want a safe option that will deliver somewhat higher interest returns 1. Your principal (and often the interest) are usually guaranteed by the Canada Deposit Insurance Corporation (CDIC), though the insurer can change depending on who you take the investment with and which province you live in. Amounts up to between $100,000 and $250,000 are covered, depending on your home province.

There are several different types of GICs available in the market. Fixed-rate GICs pay a predetermined interest premium each term and are ideal if you’re comfortable locking up your money for set periods of time. Variable-rate GICs link interest payments to a fluctuating benchmark, usually the institution’s prime rate. Redeemable GICs (or cashable GICs) are a good bet if you think you might need to withdraw your money before the end of the term, as they don’t charge a penalty. Equity-linked GICs link interest payments to the performance of an underlying stock market index and offer potentially higher returns than fixed-rate GICs but come with more risk.

The current interest rates for GICs vary depending on the financial institution and the term length of the GIC. As of October 25, 2023, the highest 1-year GIC rate is 5.98% offered by WealthONE Bank of Canada .  The highest 2-year GIC rate is 5.78% offered by WealthONE Bank of Canada. The highest 3-year GIC rate is 5.52% offered by VersaBank. The highest 4-year GIC rate is 5.35% offered by BMO Bank of Montreal. The highest 5-year GIC rate is 5.30% offered by Motive Financial, National Bank of Canada, and LBCDigital.ca.

Please note that these rates are subject to change and may not be available in all provinces. It’s always a good idea to shop around and compare rates from multiple financial institutions before making a decision.




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