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Canadian consumers and businesses could see some short-term benefits from the latest news out of the U.S. concerning the Federal Reserve, but there are also severe long-term risks.

Central banks around the world, including the Bank of Canada, are voicing their support for the U.S. Federal Reserve after the U.S. DOJ launched a criminal investigation.

The head of the U.S. Federal Reserve disclosed a legal indictment from the DOJ, and said it was a "pretext" to gain political influence over the Fed to lower interest rates faster.

The United States Federal Reserve reduced its key interest rate for the third time in a row Wednesday but signaled that it may leave rates unchanged in the coming months.

The rate cut, which included a nod to the data limits the Fed faces during the current federal government shutdown, drew dissents from two policymakers.

The move represents an unprecedented escalation in President Donald Trump’s battle with the Fed, an independent agency.

Sluggish December hiring concluded a year of weak employment gains that have frustrated job seekers even though layoffs and unemployment remained low.

Kristalina Georgieva told Reuters that central bank independence worked in the interest of businesses and households, and that she respected Powell's professionalism.

"I don't have any plan to do that," Trump told Reuters in an interview when asked if he would attempt to remove Powell from his job.

Stocks slumped in afternoon trading on Wall Street Tuesday as tensions escalate over U.S. President Donald Trump's attempts to assert American control over Greenland.

U.S. inflation slowed unexpectedly last month, the government said in a report that was delayed and likely distorted by the government shutdown.

The United States gained a decent 64,000 jobs in November but lost 105,000 in October as federal workers departed after cutbacks by the Trump administration.

Cook, who was appointed to the Fed board by former president Joe Biden, has said she will not leave her job and won’t be 'bullied' by Trump.

U.S. statistical agencies that provide key economic data to the U.S. Federal Reserve are among the agencies impacted by a shutdown, and an interest rate meeting is looming.

After initially soaring toward what seemed like its best day since May, the S&P 500 erased its entire early surge. The Dow Jones and Canada's S&P/TSX index also fell.

Calgary officials say the city’s water system remains under strain as crews continue work to restore a critical feeder main following a major break in the northwest.

Conservative Leader Pierre Poilievre is warning the federal government that the possible end of American sanctions on Venezuelan oil could displace Canadian exports to the U.S.

The City of Calgary says tests on a repaired water main have been successful and all water restrictions in the city and surrounding communities are now lifted.

A Toronto hospital network will double its unique permanent housing program for homeless people who frequently visit emergency departments that has seen great success.

The town of Tecumseh, Ont. is likely to lose about $3.2 million in funding for housing after voting against allowing fourplexes to be built by default.