The 2021 agreement introduced a new goal—that monetary policy should also support maximum “sustainable” employment.
The goal of "maximum sustainable employment" is largely determined by forces beyond the central bank’s control.
Government tax revenues can increase even though the inflation-adjusted incomes of most Canadians do not.
Ramping up interest rates at this juncture places more of the burden of fighting inflation on consumers.
The president scuttled the Keystone XL pipeline and suppressed domestic production of oil and natural gas.
If the inflation rate remains relatively stable over time, suppliers should know when higher prices signal increased scarcity.
The price of meat has increased by 9 per cent in Canada.
The price of gas has increased by 41.7 per cent over the last 12 months.