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Congress Averts Government Shutdown with Last-Minute Spending Bill

  In a dramatic turn of events, Congress narrowly avoided a government shutdown by passing a crucial spending bill late Friday night. The bill, which extends government funding until mid-March, was approved by the House with a vote of 366 to 34 and later passed by the Senate. This legislation provides $110 billion in relief for natural disaster survivors and aid to farmers, while also extending the farm bill. However, the bill notably excludes President-elect Donald Trump's demand to raise the debt ceiling. Instead, Republicans are considering a handshake deal to raise the debt limit by $1.5 trillion early next year and reduce future government spending by $2.5 trillion. This compromise does not have the force of law and will be revisited in the coming months. The spending package also left out key Democratic priorities, such as funding for pediatric cancer research. Despite these omissions, the bill's passage was seen as a significant achievement for House Speaker Mike Johnson...
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Canada's Inflation Rate Cools to 1.9% in November


Canada's annual inflation rate slowed to 1.9% in November, down from 2% in October. This slight decrease was driven by a broad-based slowdown in prices, particularly in travel tours and mortgage interest costs. The consumer price index remained unchanged on a monthly basis.

Economists had anticipated the inflation rate to hold steady at 2%, but the data showed a more significant deceleration. The Bank of Canada, which has been working to control inflation, will consider this data in its upcoming rate decision on January 29.

The cooling inflation rate is a positive sign for the Canadian economy, which has been facing challenges this year. The central bank has already cut interest rates by 175 basis points since June to stimulate growth.



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