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Building on a narrow base

Long-term economic trends have left the U.S. economy increasingly reliant on spending by upper-income households. We unpack the potential implications for economic stability and Federal Reserve policymaking.

Tariff updates, the impact of the U.S. government shutdown and the AI boom: What investors should know

Tasneem Azim-Khan and Mark Dowding unpack the latest market and economy headlines, and what investors can learn from them.

Power tools

The White House has made broad interpretations of existing legislative authority to make unilateral policy moves. We examine how this centralized ad hoc decision-making raises structural concerns and how the economic policy framework may evolve.

The U.S. dollar in transition: Cyclical volatility meets structural shifts

The greenback’s volatile year underscores the interplay between cyclical drivers and longer-term valuation challenges—factors that could have implications for global equity leadership.

Five disruptors to the U.S. economic cycle

We’re increasingly of the view that a series of disruptions are masking a very real cyclical U.S. economic slowdown underneath the surface.

Federal budget 2025: A summary of key measures that may impact you

We outline some of the proposed federal budget measures, and the effect they may have on Canadians and their families.

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