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Macklem Just Raised the Inflation Alarm: What Monday’s CPI Means for Your Wallet

  Canadian Money Brief  |  Sunday, October 18, 2026  |  Written ahead of Monday’s 8:30 am ET inflation release Bank of Canada Governor Tiff Macklem has just told Canadians what the central bank is about to say on October 28: its inflation forecast is going up, and by a lot. The reason is oil. With the Middle East conflict dragging on, shipments still curtailed and refinery capacity damaged, he said the risk that inflation broadens and lingers has gone up. Speaking to reporters from Bangkok on Saturday, he framed the coming decision as a simple question: will inflation drift back toward 2% on its own, or does the Bank need to raise rates to nudge it there? Monday is the first real clue. Here is what is landing, what economists expect, and what it could mean for your gas bill, your grocery cart, your heating costs and your mortgage. 3.0% August CPI, year over year 3.2% September consensus (Reuters poll) 2.25% BoC policy rate, unchanged for nearly a year Oct 28 Rat...
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A Comprehensive Approach to Addressing the US Debt Problem

 

The US debt problem is a complex issue that requires a multi-faceted approach to solve. While closing the $688 billion tax gap is a step in the right direction, it is not a panacea for the US debt problem. According to a recent article by AOL, even if the IRS achieves a 100% collectible rate and closes the estimated $688 billion tax gap, that won’t be enough to meaningfully shrink the US debt gap. The article suggests that the US government needs to focus on other areas such as reducing spending, increasing revenue, and improving economic growth.

The US debt problem is a critical issue that requires immediate attention. The current debt-to-GDP ratio indicates that current policy under this report’s assumptions is unsustainable. If lawmakers fail to take action soon, the report projects that the federal debt could “exceed 200 percent [of GDP] by 2046 and reach 566 percent by 2097”. To stabilize the federal debt at current levels, the Financial Report estimates that the government will have to run “primary surpluses” equal to 0.6 percent of GDP, 4.9 percentage points higher than current projections, between 2023 and 2097 .

Therefore, it is imperative that the US government takes a comprehensive approach to address the debt problem. The government should focus on reducing spending, increasing revenue, and improving economic growth. A balanced approach that includes a combination of these measures is necessary to address the US debt problem.

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