My First $1 Million: Plumber, 56, Cincinnati
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"I never once pulled anything out, no matter how bad the market got, like in 2008. I stayed the course, and it has paid off, so far."
This article is an excerpt. To read the full content, visit the original source. Kiplinger
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Looming rate hike raises the question: Is it better to battle inflation or win the trade war?
Open this photo in gallery:The Bank of Canada’s governing council, led by Tiff Macklem, will either keep the policy rate as is or launch a possible series of increases starting this Wednesday. Justin Tang/The Canadian PressJohn Turley-Ewart is a contributing columnist for The Globe and Mail, a regulatory compliance consultant and a Canadian banking historian. Making ends meet may soon be harder. The Bank of Canada’s governing council, led by Tiff Macklem, will make the determination. It will either keep the central bank’s policy rate as is, at 2.25 per cent, or launch a possible series of increases starting this Wednesday. For many if not most Canadians, the prospect of higher interest rates could not be more ill-timed. If you own a house or want to, if you have a job or need one, run a business or plan to, or you are just keeping your head above a sea of debt, the Bank of Canada decision will be personal. Mr. Macklem recently indicated the bank’s decision amounts to a calculated answer to this question: Will inflation, driven higher by energy prices to 3.1 per cent in September, revert to the bank’s 2-per-cent target six months to a year from now?
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