Lifting pandemic stimulus sooner would’ve limited inflation: Bank of Canada’s Macklem - National | Globalnews.ca
Bank of Canada Governor Tiff Macklem was grilled by MPs about the central bank's policy and role in both fighting and fueling inflation at the House of Commons Finance Committee.
globalnews.ca
It was not just in hindsight. EVERYONE knew that it was going to cause inflation, everyone talked about it, anyone with half a brain knows if you dump billions of unearned dollars into the economy you're going to drive up inflation. There's no way NOT to.
The real issue is why is the federal gov't STILL spending like crazy and dumping money into the economy? Giving people MORE 'free cash' to spend is not going to bring inflation down, it makes it go up. Spending money on unnecessary projects or 'stimulus' makes things go up. You CANNOT "spend" your way out of inflation.
So why isn't the bank pointing THAT out now? OR is this going to be another thing they'll magically see in 'hindsight' in a year?