I wrote a piece for the C.D. Howe Institute in April 2021, making the case that the Bank of Canada should keep the then-existing agreement with the government in place, without amendments, when the time came to renew the agreement. So, the time has come and, indeed, the new…
Much like in the United States (as discussed in this post), events in Canada are not unfolding as envisioned by the central bank at the beginning of the…
Events are not evolving as people on the FOMC envisioned last year, and the Fed is not currently achieving its goals. A slow and plodding approach isn’t…
The Floor That's Not a Floor
The floor that's not a floor.
Answer: For one thing, they're thoroughly embedded in current monetary policy issues.
The Fed’s new policy framework, as I outlined in a previous post, seems on the surface to be a quasi-average-inflation-targeting approach. Basically, in…
There was nothing new in the statement from this week’s FOMC meeting, but I watched Powell’s press conference from yesterday, and I think there are some…
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Monetary Non-Neutrality