Just because you have the biggest soap box and are the CEO of several large firms ( which shall remain nameless) does not mean that the financial regulators in your country have to listen to and follow your advice. Yes these recent rate hikes have been painful to business owners and consumers alike, but it does not mean that they were unwarranted.
The US Federal Reserve Chairman Jerome Powell is due to address the state of the US economy and the effects of all the recent rate increases later today. As much as we all want the rate increases to stop and to even reverse course with some decreases, this is highly unlikely to happen. What is most likely is language addressing the continued need to move the rates higher to finely get control of inflation.
So criticize, condemn and complain all you want from your oversized soap box it is not going to change things. Inflation rates are still at record levels even though they have started to come back down, they have not come down fast enough or by margins that would dictate a reversal of course by the Federal Reserve or our central bankers.
Today I am thankful for the fact that our electrician showed up much earlier than expected, that we now have working under cabinet lights in the kitchen and functioning security lights.
I look forward to hearing from you in regard to your mortgage needs.
p.s.s- I should tell you that I am licensed in Nova Scotia Brokerage (2022-3000179) Broker (2022-3000180), Ontario(M18001555) & in British Columbia(BCFSA #504098).
p.s.s.s You can download my new mortgage app here