Jean-François Perrault, senior vice-president and chief economist at Scotiabank joins BNN Bloomberg for a preview of tomorrow's Bank of Canada's rate decision. He says while the labour market's resilience is surprising, the focus remains on inflation and that a slowdown may come sooner rather than later, albeit less aggressive. Subscribe to BNN Bloomberg to watch more videos: Connect with BNN Bloomberg: For the latest news visit: For a full video offering visit BNN Bloomberg: BNN Bloomberg on Facebook: BNN Bloomberg on Twitter: BNN Bloomberg on Instagram: BNN Bloomberg on LinkedIn: -- BNN Bloomberg is Canada’s only TV service devoted exclusively to business, finance and the markets....(read more)
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According to a chief economist, recession may be reasonably imminent in both Canada and the United States. A number of economic indicators suggest that the next recession is on the horizon, and policymakers need to prepare for the worst-case scenario. One of the key indicators of a recession is a slowdown in economic growth. Both Canada and the United States have experienced a deceleration of growth in recent months. In the first quarter of this year, Canada's GDP grew by only 0.4% – the lowest rate in nearly four years. Meanwhile, the U.S. economy grew by just 2.1% in the same period, down from a growth rate of 3.1% in the previous quarter. Another concerning economic trend is the increasing likelihood of a global economic slowdown. The global economy is facing a number of headwinds, including a trade war between the U.S. and China, Brexit uncertainty, and a potential economic crisis in Italy. These factors could have a significant impact on Canada and the U.S., which both rely heavily on international trade. The chief economist also points to rising debt levels as a potential cause for concern. Both households and governments in Canada and the U.S. have been racking up record levels of debt in recent years. This could make it difficult for individuals and institutions to weather an economic downturn, and could even exacerbate the effects of a recession. So, what can policymakers do to mitigate the risk of a recession? The chief economist suggests that governments should focus on implementing policies that can boost economic growth and protect vulnerable individuals and industries. This could include investing in infrastructure projects, implementing targeted fiscal policies, and developing emergency preparedness plans. Ultimately, the chief economist's warning that a recession may be reasonably imminent should serve as a wake-up call for policymakers in Canada and the U.S. There is still time to take action to minimize the impact of the next recession, but time is running out. Failure to act now could have disastrous consequences for both countries' economies and the well-being of their citizens. https://inflationprotection.org/the-chief-economist-predicts-a-possible-recession-in-canada-and-the-u-s/?feed_id=96622&_unique_id=645d462c2bf4a #Inflation #Retirement #GoldIRA #Wealth #Investing #America #BNNBloomberg #canada #Canadiandollar #economy #investing #Loonie #Markets #u.s #U.S.Dollar #UnitedStates #unitedstatesofamerica #usdollar #RecessionNews #America #BNNBloomberg #canada #Canadiandollar #economy #investing #Loonie #Markets #u.s #U.S.Dollar #UnitedStates #unitedstatesofamerica #usdollar
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