General
Canada’s Central Banker on Economic Turmoil and Diversifying Trade
We spoke with Tiff Macklem, the governor of the Bank of Canada, after a meeting of top economic policymakers in Alberta.
The White House confirmed this week that President Trump would return to Canada to attend a Group of 7 leaders summit in Kananaskis, Alberta, in June.
Tiff Macklem, the governor of the Bank of Canada, said uncertainty over tariffs was freezing investment.Credit…Cole Burston//Agence France-Presse — Getty Images
And the G7 nations’ finance ministers and central bankers, as is customary, held their curtain-raising meeting in Banff, Alberta, this week. Alan Rappeport, my colleague who covers economic policy in Washington, was also there and reported that those top economic policymakers had left their three-day meeting with a statement of support for Ukraine and a warning to Russia of additional sanctions if there was no progress on peace.
[Read: G7 Finance Ministers Show Unity in Support of Ukraine Against Russia]
[Read: Global Economic Officials Gather Amid Headwinds From Trump’s Trade War]
And while they didn’t put out a statement condemning the global havoc created by Mr. Trump’s blizzard of tariffs, the economic policymakers did note that “trade and economic policy uncertainty was high and weighing on global growth.”
After the meetings ended, Alan and I spoke with Tiff Macklem, the governor of the Bank of Canada, in a video call. Our conversation has been edited for length and clarity.
