Friday’s summit between Russian President Vladimir Putin and US President Donald Trump was recognized more for what it did not produce, versus the outcome that many had hoped would happen. It was the first step towards an ongoing negotiation, and more meetings are scheduled this week, which would include Ukraine President Volodymyr Zelensky and NATO allies from Europe. The feeling from the initial meeting is that security guarantees are a must and that land will need to be given up to eventually secure a peace deal. The initial summit also eased concerns around sanctions and Russian energy supplies helping to steady oil prices after weeks of volatility. There will certainly be more to come on this.
In the US, financial data told a mixed story. July unemployment rose to 4.2% (Source: Bloomberg News, August 13th, 2025), pointing to a cooling labour market and strengthening expectations of a Fed rate cut in September. The debate now is whether the cut will be limited to 0.25% or larger. This week, Federal Reserve Chair, Jerome Powell will be speaking at the annual Jackson Hole Symposium, and many keen observers will be looking to see if he signals how aggressively the central bank intends to easy interest rates. Although some contrasting data emerged last week with a 0.9% jump in the PPI data, reminding investors that inflationary pressures have not fully subsided. And to make things more confusing…the financial markets have neared or achieved new records with the Nasdaq hitting new highs, driven by tech stocks.
Finally, earnings from Walmart, Home Depot, and Target will provide insight into household spending, an important gauge of economic resilience. In Canada, retail sales and confidence data will set the stage for next week’s CPI release, offering more clarity on domestic momentum and the Bank of Canada’s path forward.
We have the latest on The Federal Reserve’s latest interest rate decision. Have a look at the article!
Have you tried to call CRA this summer and been met with extended wait times, or worse yet, not been able to get through at all? We have an article that explains what is happening and what Canadian Revenue Agency is doing to address taxpayer concerns.
Financial analysts predict that the Bank of Canada will cut its policy rate to 2.25% by the end of year, a 0.50% decrease from its current 2.75%. The reason: a weakening economy combined with upward price pressures from trade disruptions. Read more in the attached article below.
Summer sleepaway camps for adults? Yes please! We have an interesting article on what a weekend at an adult camp looks like and how much it costs. Have a read!
Just a reminder that post secondary school will start back in early September. If you require RESP withdrawals for your children or grandchildren attending approved post secondary institutions, we encourage you to reach out to us so that we can get those withdrawals completed in time for when the funds are required. A further reminder: To have the RESP withdrawal processed, you will need to provide evidence of the student’s enrollment in the institution. Often an invoice for the term being billed or a letter from the institution verifying student enrollment is all that is required. If you require help or have questions regarding your RESP account, please don’t hesitate to reach out to Emily ([email protected] or 226-647-4595 ext. 2) and she can assist you.
Air Canada flight attendants who were on strike, have reached a tentative agreement. We have an article attached, that will help you understand what you are entitled to, if your flight was cancelled.
