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Bank of Canada governor Tiff Macklem says the central bank is preparing for a future that looks more uncertain and more prone to shocks. In a speech to the Greater Vancouver Board of Trade on Monday, he said structural changes are underway in the world, including demographic shifts, technological changes, decarbonization and a move away from globalization. "We need to use the pandemic experience to prepare for future crises," Macklem said in a prepared text of his speech. Sean Fraser to leave federal cabinet as PMO pushes to add Mark Carney To that end, Macklem says the Bank of Canada is working to learn what it can from how the economy reacted to the pandemic and its aftermath. The Bank of Canada is conducting a review of the policy actions it took to restore financial stability and support the economy during the pandemic that it plans to publish along with an assessment of an independent panel of experts. Macklem said the spike in inflation in 2022 was a reminder that even though inflation was relatively low and stable for 30 years leading up to the pandemic, central banks cannot take public trust for granted. "All of a sudden, people couldn't afford the things they need. And while inflation is low once again, many prices are still a lot higher than they were before the pandemic. So, people feel ripped off. And that erodes public trust in our economic system," he said in his speech. Terry Fox on the $5, big money for the border — what we learned from the economic statement The Bank of Canada has cut its key policy interest rate five times this year including last week when it reduced the benchmark by a half a percentage point to 3.25 per cent. Macklem says the bank will be evaluating the need for further reductions in the policy rate one decision at a time and anticipates a more gradual approach to monetary policy if the economy evolves as expected. Statistics Canada reported last month that the annual inflation rate was two per cent in Ontario, hitting the Bank of Canada's target. The speech by Macklem came ahead of the release of the November inflation report on Tuesday.
The Arizona Cardinals are 6-6 through 12 games, which makes them an average football team. That’s much better than the previous two years, which both ended with just four wins. But after two straight frustrating losses, it’s not providing much consolation for a franchise that feels as though it should be much better. The latest setback came on Sunday, when the Minnesota Vikings . Arizona never trailed until Sam Darnold threw a 5-yard touchdown pass with 1:18 remaining that proved to be the winning score. It was a mistake-filled performance for the Cardinals, who racked up 10 penalties for 96 yards. That’s a big reason they had to settle for five field goals and scored just one touchdown. The Cardinals were leading 19-16 in the fourth quarter and had first-and-goal at the Vikings 5, but Tip Reiman was called for a false start and then quarterback Kyler Murray . The Cardinals kicked a field goal for a 22-16 lead, giving the Vikings the chance they needed to drive for the winning score. Murray threw two interceptions in the fourth quarter. “I thought we moved the ball well,” Murray said. “Again, it just comes down to not scoring touchdowns. Get down there and kick field goals and penalties bite us. It’s bad — it’s bad football.” The loss knocked the Cardinals out of first place in the NFC West, though they’re still in decent playoff position. A pivotal game against the division-rival Seahawks looms on Sunday. Second-year coach Jonathan Gannon acknowledged the frustration of Sunday’s loss, but said they’ve got to rebound quickly. “They’re disappointed and down, but it’s the NFL,” Gannon said. “They’ve got to put all their energy and focus into tomorrow.” What’s working Arizona’s defense blamed itself for not coming up with a stop on the Vikings’ winning drive, but the unit played exceptionally well for most of the afternoon. Mack Wilson and L.J. Collier both had two sacks and the Cardinals held Minnesota to just 273 total yards. For a group that looked as if it might be the team’s weakness this season, it was another rock solid performance. What needs help The Cardinals aren’t a good enough football team to overcome 10 penalties and get a win — particularly on the road. Reiman had a rough day, getting called for three false starts. His false start on the next-to-last offensive drive — coupled with Murray’s intentional grounding penalty — proved to be extremely costly. “That was brutal,” Gannon said. “Just got to figure out ways to punch the ball in for touchdowns there, not field goals.” Stock up Rookie Marvin Harrison Jr. had five catches for 60 yards, including an impressive touchdown catch that put the Cardinals up 19-6. It was Harrison’s seventh TD reception of the season. The No. 4 overall pick has been a little inconsistent in his first year, but there’s little doubt he’s a difference-maker for the offense. He’s still got a chance to reach 1,000 yards receiving this season if he averages about 80 yards receiving over the final five games. Considering his talent, that’s certainly possible. Stock down Gannon was second-guessed for his decision to kick a field goal late in the fourth quarter instead of trying for a touchdown at the Vikings 4 with 3:29 left. Chad Ryland made the 23-yard chip shot for a 22-16 lead, but the Vikings drove the field on the ensuing possession for the winning score. “I trust JG,” Murray said. “I see both sides. Go up six and make them score; trust the defense to go get a stop. Go for it, you don’t get it, they’ve still got to go down and score. If you do get it, you probably put the game away.” Said Gannon: “Yeah, I mean there’s thought about it. Just wanted to go up more than a field goal there. Definitely a decision point that we talked about. So be it.” Injuries The Cardinals came out of the game fairly healthy. Rookie DL Darius Robinson — the No. 27 overall pick — made his NFL debut against the Vikings after missing the first 11 games due to a calf injury. Key number 1,074 — Running back James Conner’s total yards from the line of scrimmage this season, including 773 on the ground and 301 in the passing game. Next steps The Cardinals return home for a game against the Seahawks on Sunday. ___ AP NFL:
Global-E Online Ltd.: Positive Demand Environment Should Enable Growth AccelerationJimmy Carter, 39th US president, Nobel winner, dies at 100BUFFALO, NY (WKBW) — Incredible news for Roswell Park Comprehensive Cancer Center in Buffalo and many cancer patients with the creation of a new cell and gene therapy unit at Roswell is being called a game-changer. 7 News Senior Reporter Eileen Buckle was there for the announcement to learn how this will provide cutting-edge technology to treat certain cancers. “A milestone moment for Roswell Park and New York State and actually the world,” announced Dr. Candace Johnson, president & CEO, Roswell Park. Roswell Park leaders and Governor Kathy Hochul announced the new $98 million Roswell Park Cell and Gene Therapy Center Monday, the largest in the nation. “What a great day for Buffalo,” declared Governor Hochul. “This scientific revolution is changing lives already." The state has funded $30 million toward this new center, and it is expected to generate an economic benefit to the region and initially create 61 new jobs. Right now, this state-of-the-art facility concentrates on the treatment of those with blood cancers. The CAR-T Cell therapy means your T-cells are removed from your body, sent into these labs, and genetically modified. “So, when they put them, transplant them back in me, they’re programmed really to attack any lymphoma cells,” explained Christopher Vogelsang, Roswell patient. Vogelsang of Buffalo has been a patient at Roswell for 15 years for treatment of lymphoma. But he underwent the new therapy and rang the famous Roswell bell because he is “cancer-free”. A post shared by Eileen Buckley (@eileen.buc1) “I'm doing really well. Just back being busy with my life and activities, playing golf and tennis, and doing a lot of walking, and really just back to normal. It feels pretty darn good,” reflected Vogelsang. Initially, CAR-T Cell therapy is focused on blood cancers but will eventually focus on other cancers as well. “But the real challenge is to be able to apply this technology to much more common cancers and it's a bit more complicated with solid tumors, which are more common, but that's what Candace and that's what Roswell has committed to do,” stated Dr. Renier Brentjens, deputy director & Chair of the Department of Medicine at Roswell Park. There are also plans to expand cell therapy to treat ALS and Parkinson’s and other diseases. "CAR-T is just a phenomenal move in science just the evolution of science to get to this point,” Vogelsang remarked.
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