The U.S. Federal Reserve hikes interest rates, something that they haven't done in almost a decade.
The Federal Reserve raised the range for its federal funds rate to between 0.25 and 0.5 per cent on Wednesday, the first time America's central bank has raised its benchmark rate since 2006.Hmmm, let's see. A Trudeau in power with plans to tax Alberta energy producers extra to benefit Ontario taxpayers. A worldwide drop in the price of oil. An Alberta Premier spending like a drunken sailor. The Oilers and Flames are the best in the NHL. And now rising interest rates.
In addition to its benchmark federal funds rate, the Fed also hiked its interest rate on excess reserves and its rate on overnight reverse repurchase agreements by the same amount — 25 basis points.
So let's compare. A Trudeau in power with plans to tax Alberta energy producers extra to benefit Ontario taxpayers. A worldwide drop in the price of oil. An Alberta Premier spending like a drunken sailor. The Oilers and Flames are the best in the NHL. And rising interest rates.
It's not just nostalgia, Alberta: the 80s are back. And just like before, we'll need a strong fiscally conservative leader to get us back out of the gutter. Maybe this time can we try to get a strong social conservative too? We were so close!