Stamp down inflation at any cost? That's the goal

Plus, remembering the victims in Saskatchewan and investigating the Fyre Festival of reality shows [The Star] First Up [By Manuela Vega] By Manuela Vega Good morning. Justin Trudeau told his Liberal cabinet he’s sticking around to fight in the next election, the Star has learned. [Here’s what that means for the race](. Here’s the latest on the victims of the Saskatchewan massacre, the risks associated with the central bank’s interest rate hikes and how a producer sold business leaders on a reality TV show that never hit streaming services. DON’T MISS Canadian Press/RCMP saskatchewan tragedy [These are the victims killed in Saskatchewan’s stabbing rampage]( Police have named all ten people killed during Sunday’s tragic series of stabbings in Saskatchewan. They include a 23-year-old, a first responder, mothers and an expectant father. One “held a loud, infectious laugh.” Another was described as a “sweet, gentle soul.” Many had playful nicknames. [These are the people whose lives were taken that day](. - Watch: Family members of Bonnie Burns, 48, and Gregory Burns, 28, say they were heroes who protected children and gave to their community. [Listen to the family’s words about their loved ones](. - More: The police list did not include Damien Sanderson, who was initially sought in connection with the murders along with his brother, Myles Sanderson. Damien’s body was discovered on Monday, bringing the death toll to 11. Eighteen others were injured. - The manhunt concludes: After a four-day search, Myles Sanderson died shortly after being taken into custody, Saskatchewan RCMP confirmed Wednesday night. [Here’s what media and the police are saying](. Canadian Press/Sean Kilpatrick economy [Aggressive rate hikes risk plunging the economy into recession, economists warn]( In its ongoing effort to stifle inflation, the Bank of Canada raised its rate for the fifth time this year — a move economists warn could cost hundreds of thousands of people their jobs. The key overnight lending rate shot to 3.25 per cent Wednesday — up three quarters of a percentage point — and the bank said more hikes are on the way. [Here’s what the experts say about the Bank of Canada’s goal of controlling inflation at any cost](. - Context: The rationale behind rate hikes is that they make borrowing more expensive, causing businesses and consumers to spend less. Less demand follows, meaning prices could drop, or at least rise less quickly. But with enough of a slump in demand, the economy starts to shrink; if it shrinks for two straight quarters, we enter a recession. - Heather Scoffield’s take: While the Bank of Canada tries to kill inflation, [the Liberal government risks giving it new life](. - David Olive’s take: Trudeau is doing almost nothing to help us deal with inflation — [here’s why that’s exactly what he should do](. Toronto Star Photo Illustration Four days: part 2 [Before Miami contestants were enlisted to save the world on reality TV, another group signed up in Montreal — but where were the cameras?]( With the promise of a reality TV show about a battle to solve the world’s greatest problems through business, Miami-based producer Christopher LaVoie convinced hundreds of CEOs and entrepreneurs to pay up to $50,000 to compete. However, it turned out that wasn’t LaVoie’s first venture into reality TV. Two years prior, he had persuaded 30 people to pay a hefty price for a spot on a similar show in Montreal. [This is the bizarre story of how contestants tried to solve near-impossible challenges without so much as a dry-erase marker](. - Wait, what? “It was an absolute Fyre Festival,” said one person who was hired as a producer, despite having no film experience. (He was never paid.) “Everything that could go wrong did go wrong.” - Go deeper: Contestants were told the show would stream on services such as Apple TV, Netflix and Hulu, even though content is usually exclusive to one streaming service. - ICYMI: [Read how contestants started to realize something was wrong]( during what was meant to be a four-day race to save the world in Miami. - More: Don’t miss parts [three]( [four]( and [five](. WHAT ELSE Top Doug Ford and John Tory strategists are [rallying behind a mayoral challenger to topple Patrick Brown](. Council was told security hired to prevent encampments wouldn’t make arrests. [Why do city documents say otherwise?]( A Toronto nurse has been sentenced to life for [trying to kill her 19-month-old daughter with stolen insulin](. Road safety is a top priority as thousands of Toronto students return to school. [Here’s what the city is doing](. Toronto condo rents hit a new record average. [These dizzying price tags are the new norm](. [Here’s why it’s impossible to argue with surging angry, dangerous Canadians](. [Here’s what drove Canada’s labour market recovery]( over the past two years. Despite their knack for publicity, [bullies are not popular in Alberta](. Outrage is building over a new report that claims [Trump stashed top secret nuclear documents at Mar-a-Lago](. “One wonders if America is a nation in decline.” [Here are four suggestions for starting to fix it](. Burning Man festival goers were stuck in a traffic jam for over nine hours. [The scene looks straight out of the movie “Mad Max.”]( KFC and Ruffles have [announced new chicken-flavoured chips in Canada](. ICYMI Frederic J. Brown/AFP via Getty Images [Ready for a boost? Here’s what you need to know about Moderna]( vaccine targeting Omicron.]( CLOSE-UP Mario Tama/Getty Images CALIFORNIA: A firefighting aircraft drops fire retardant as the Fairview Fire burns on Tuesday near Hemet. The 4,500 acre brush fire has left two dead and destroyed several homes. Climate models almost unanimously predict heat waves will become more intense and frequent. Thank you for reading. You can reach me and the First Up team at [firstup@thestar.ca](mailto:firstup@thestar.ca?source=newsletter&utm_source=ts_nl&utm_medium=emailutm_email=6C53B63A8E3FAD70AD4EF13004527437&utm_campaign=frst_143592). I’ll see you back here tomorrow. [The Star]( If you're not enjoying these emails, please tell us how we can make them better by emailing newsletterfeedback@thestar.ca. 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