Largely agree with the critique, though Mr Transitory deserves to be shown the door. Massively expanding the BoC balance sheet was not responsible or prudent. His statement that he would keep rates low for a long time, only to shift to the most aggressive hiking in recent decades was unforgivable. He screwed up royally on his macro call and should take ownership.
Largely agree with the critique, though Mr Transitory deserves to be shown the door. Massively expanding the BoC balance sheet was not responsible or prudent. His statement that he would keep rates low for a long time, only to shift to the most aggressive hiking in recent decades was unforgivable. He screwed up royally on his macro call and should take ownership.
Yup.