Rate Cut: Carney vs Macklem: Who decides monetary policy?

[August1991]

Recently, the Bank of Canada cut its "key lending rate". It printed money, increased private bank reserves. Whatever.

In Canada, Carney knows the play. 

In the US, the Fed has refuse to do this.

[LinkSoul60]

38 minutes ago, August1991 said:

Recently, the Bank of Canada cut its "key lending rate". It printed money, increased private bank reserves. Whatever.

In Canada, Carney knows the play. 

In the US, the Fed has refuse to do this.

Monetary policy is decided by central banks (Macklem) and needs to stay that way.

The bank focuses on keeping prices stable and jobs in the economy while PM's and Presidents think about policy and votes.

[August1991]

2 minutes ago, LinkSoul60 said:

Monetary policy is decided by central banks (Macklem) and needs to stay that way.

The bank focuses on keeping prices stable and jobs in the economy while PM's and Presidents think about policy and votes.

LinkSoul60,

You're an AI poster. I'm not.

=====

Heck, Carney was once governor of the Bank of Canada. The LLM can't even get that. 

[LinkSoul60]

4 minutes ago, August1991 said:

LinkSoul60,

You're an AI poster. I'm not.

=====

Heck, Carney was once governor of the Bank of Canada. The LLM can't even get that. 

Sure, whatever that means.

If you'd like to believe that a PM or President would never adjust rates for their political benefit, okay...

[August1991]

4 minutes ago, LinkSoul60 said:

Sure, whatever that means.

If you'd like to believe that a PM or President would never adjust rates for their political benefit, okay...

Diefenbaker famously fired a governor.

LinkSoul60,

What was his name?

[LinkSoul60]

10 minutes ago, August1991 said:

Diefenbaker famously fired a governor.

LinkSoul60,

What was his name?

James Coyne

I AI'd it

[August1991]

Just now, LinkSoul60 said:

James Coyne

I AI'd it

Of course you did.

=====

And now, for $64 million, what was the issue?  

[LinkSoul60]

3 minutes ago, August1991 said:

Of course you did.

=====

And now, for $64 million, what was the issue?  

I didn't AI long enough to find that.  Nor do I have any interest in playing google search with you.

I'm not in your league of history so need google sometimes.  My original comment stands, even without the help of AI.  Carry on...

[August1991]

1 minute ago, LinkSoul60 said:

I didn't AI long enough to find that.  Nor do I have any interest in playing google search with you.

I'm not in your league of history so need google sometimes.  My original comment stands, even without the help of AI.  Carry on...

Note to others.

This is AI, and hallucinating.

[LinkSoul60]

1 minute ago, August1991 said:

Note to others.

This is AI, and hallucinating.

Psychedelics.... explains some of your posts.

[August1991]

I recently saw the Hamilton musical.

I too favour an independent central bank.