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5 Things to Know Today — June 21, 2026

  Whether you're starting your week or wrapping up your weekend, here are the five Canadian money stories shaping your financial picture right now. 1 Canada Is Technically in a Recession — And the Political Fight Is On Canada's GDP contracted 0.1% on an annualized basis in Q1 2026, following a 1% decline in Q4 2025 — two consecutive quarters of negative growth that meet the textbook definition of a technical recession. Prime Minister Mark Carney has called it a "settling-in period" tied to his government's restructuring of the economy in response to the U.S. trade war. Conservative Leader Pierre Poilievre has been relentless in his counter-offensive, pointing to rising insolvencies, job losses and food bank usage as proof that the downturn is real, not technical. Many economists, including BMO's chief economist Douglas Porter, have noted that a future revision to Statistics Canada's data could erase the slim 0.1% contraction — meaning this may not ultimate...
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Trump Wins Colorado Ballot Case at Supreme Court, Defying Insurrection Charge

 

The U.S. Supreme Court on Monday ruled that former President Donald Trump can appear on Colorado’s primary ballot for the 2024 presidential election, overturning a lower court decision that had disqualified him under a constitutional provision that bars insurrectionists from holding office.

The justices unanimously held that Colorado, or any other state, cannot invoke Section 3 of the 14th Amendment, which was enacted after the Civil War, to remove presidential candidates from the ballot without congressional action first. Section 3 states that any person who has taken an oath to the Constitution and has engaged in insurrection or rebellion against the United States, or given aid or comfort to its enemies, is ineligible to hold any federal or state office.

The ruling came a day before Super Tuesday, when Colorado and 15 other states will hold their primaries. Trump is seeking to regain the Republican nomination and challenge Democratic President Kamala Harris, who defeated him in 2020. Trump’s campaign has been marred by allegations that he incited the violent mob that stormed the U.S. Capitol on Jan. 6, 2021, in an attempt to stop the certification of Harris’s victory.

A Denver trial court judge had ruled that Trump had engaged in insurrection on that day, but was not disqualified from the ballot because he was not an officer of the United States at the time. The Colorado Supreme Court reversed that decision in a 4-3 ruling, finding that Trump was an officer of the United States when he took the oath of office in 2017, and that his conduct on Jan. 6 amounted to insurrection.

The U.S. Supreme Court disagreed, saying that Section 3 requires a prior determination by Congress that a person has engaged in insurrection, and that states cannot make that determination on their own. The court also said that allowing states to remove presidential candidates from the ballot under Section 3 would undermine the Framers’ vision of a federal government directly responsible to the people.

The court’s decision is a major victory for Trump, who has faced similar challenges in other states, such as Illinois and Maine, where he has also been barred from the ballot. Trump has denied any responsibility for the Capitol riot, and has claimed that the 2020 election was rigged and stolen from him.


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