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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (127159)	6/20/2022 10:18:48 AM
From: Goose94	Read Replies (1) of 203382

Gold: Scotia Stirs The Pot On Inflation As far as Scotia Economics is concerned (at least based on my inference), the federal government is hanging out the Bank of Canada to dry in its fight against inflation. In a report published yesterday, Scotia Chief Economist Jean-François Perrault stated he thinks “a large part” of the reason for current runaway inflation is because of the “globally coordinated fiscal boost” that was orchestrated by governments to insulate their economies from the ravages of COVID-19. And so, he said the Bank of Canada is stuck not only dealing with the inflationary effects of Russia’s war against Ukraine and ongoing supply chain problems, but also “the lagged and ongoing impact of fiscal support measures.” Perrault added an awkward reminder (for Finance Minister Chrystia Freeland) that the renewed mandate she agreed to with the Bank of Canada included an acknowledgment that achieving the two per cent inflation target is a “joint responsibility” between the feds and the central bank. Can’t help but wonder how this might be addressed in Freeland’s meeting with U.S. Treasury Secretary Janet Yellen today. BNN.ca

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