Economic Storm: Recession Risks, High Prices, and Global Squeeze

0:00Grocery prices are through the roof, gas is pricey, and the job markets cooling off fast here in the states and up in Canada. President Trump's pushing hard on tariffs, ignoring that Canada U.S.-Mexico deal while the shaky two-week truce with Iran has oil prices dipping to the mid-90s dollars per barrel from a peak of 120. But peace feels fragile disagreements over Lebanon. Israel hitting Hezbollah hard, and Tehran calling talks pointless if that keeps up. IMF head, Kristalina, Georgieva warns all this points to higher prices and slower growth depending of the ceasefire sticks. Economists are sounding alarms on recession risks, with Moody's chief saying odds are about 50-50 for a downturn in the next year. Their index has flagged trouble since January 2026, despite a recent 178,000 job gain mostly in health care. Unemployments at 4.3%, but labor participation dropped to 61.9%, hiding real weakness, manufacturing

1:03lost. Over 100,000 jobs amid tariffs and growth slow to 2.1% last year. Canada is feeling at worst, with consumer confidence at an 11-month low and trade reliance making any U.S. lowdown hit like a flu. If Iran tensions dried past June and oil stays high, stagnation or recession could spread globally, squeezing pockets everywhere. That's the story for today, Canada News Today, driven by AI, I'm Corey with The Story.