Fearmongering over runaway inflation only complicates governor\u0027s next challenge
Macklem said
There is definitely a lack of humility in those comments, but it doesn’t stem from a cavalier attitude about what’s going on with prices. Macklem sounds like every other leader of an inflation-focused central bank since Paul Volcker, the former chair of the U.S. Federal Reserve, crushed double-digit inflation with double-digit interest rates in the 1980s.
The astonishing cost of acquiring the lumber to build an outdoor deck was a talking point this spring, but such chatter forgets that a year earlier, annual increases in the Consumer Price Index had plunged below zero. Those numbers represented a bigger threat to price stability than the CPI’s current jump above three per cent. Inflation today is evidence of success, not failure.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canada to receive 2.3 million COVID-19 vaccine doses this weekThe federal government is expecting to receive more than 2.3 million doses of the Pfizer-BioNTech COVID-19 vaccine this week, as public health officials brace for a potential fourth wave of infections.
Read more »
Olympic Roundup: Canada keeps rolling in women's beach volleybalToronto's Melissa Humana-Paredes and Sarah Pavan of Kitchener, Ont., remain perfect at the Tokyo Olympics after winning their round-of-16 match on Monday.
Read more »
Canada Sarah beach volleyball Pavan, Melissa Humana-Paredes quarterfinals - TSN.caToronto's Melissa Humana-Paredes and Sarah Pavan of Kitchener, Ont., downed Spain's Liliana Fernandez Steiner and Elsa Baquerizo McMillan 2-0 in a round of 16 match on Monday. They are the second Canadian team to reach the beach volleyball quarterfinals.
Read more »
'We're losing control': Ultra-potent, unpredictable street opioids are claiming more lives in CanadaCanada's street supply of opioids is becoming increasingly toxic, unpredictable and contaminated thanks to ultra-potent and deadly mixtures of fentanyl, prompting renewed calls for safe supply programs that could help regain control of the drug supply.
Read more »
Memories of London linger as Canada prepares for U.S. in soccer semis - TSN.caAugust 6, 2012. A date that is ingrained in the minds of Canadian soccer players and fans. In front of over 26,000 fans at Old Trafford in Manchester, Canada’s women’s soccer team faced their American rivals in the semifinals of the 2012 London Olympics. Now, almost 10 years later, the teams are set for a rematch in the semis at the Tokyo Games on Monday.
Read more »