June 22, 2012

Even Modest Growth at Risk

All around the world, economic activity has been slowing. Acknowledging the disappointing prospects for growth, the Federal Reserve extended its maturity-lengthening bond-purchase program, better known as Operation Twist.

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June 17, 2012

Greek Fallout

The world is facing a dangerous moment as it awaits the fallout from the Greek election.

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June 15, 2012

The Economic Crisis Continues

I was recently a guest on TVO’s “The Agenda with Steve Paikin”, discussing my views on the European debt crisis and the global economy. With the current concerns in an ever-challenging environment, I thought you might be interested in this recent interview.

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June 7, 2012

Central Bank Action Not Enough

Even though several central banks took actions this week to boost growth, the likelihood is that global growth will remain sluggish for some time. The ECB, the Bank of England and the People’s Bank of China either cut rates or injected liquidity.

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June 6, 2012

Briefing from Washington

As a newly appointed member of the Economic Advisory Committee of the American Bankers Association (ABA)—comprised of twelve chief economists from among the largest commercial banks in North America – I spent the past two days in Washington, D.C.

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June 1, 2012

Crisis Mounts

The triple whammy of a rotten U.S. jobs report, slowing growth in China and India, and the escalating European debt crisis has hit Canada’s economy and financial markets everywhere. Stock market indexes are plunging, and other signs of distress are proliferating. The drop in commodity prices—reflecting weakening global demand—has hit Canada and Australia hard as…

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April 16, 2012

Rising Rates – Not Bad News

Interest rates for longer-maturity government bonds are finally rising, triggering concern that higher rates could derail the U.S. expansion. The 10-year Treasury yield is currently at about 2.30%. That’s up about 60 basis points since September. Should this continue, Canadian mortgage rates could move off their lows and dampen the housing boom that has already…

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March 9, 2012

The American Oil Boom

Ironically, while many are focussing on the negative impact of high gasoline prices on the U.S. economy, oil production in the U.S. is surging, providing the largest stimulus to growth and job creation since the recession began in 2007.

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November 11, 2011

Lucky to Be Canadian

I applaud Finance Minister Flaherty’s decision in this week’s Economic Update to postpone balancing the budget at this time of economic uncertainty.

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October 21, 2011

Euro Crisis: Canadian Consternation Warranted

Finance Minister Flaherty recently rebuked European authorities for dragging their heels in devising an adequate action plan to forestall a global recession.

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