![]() ![]() What to watch for: Macklem made points usable by both sides of the aisle during his rate-decision presser, but landed an unusually strong blow on fiscal spending: “It’s gonna be easier to get inflation down if monetary and fiscal policy are rowing in the same direction.” But the alternative - just living with inflation, letting your paycheck buying power get eroded year after year - that’s worse.” “We know higher interest rates are squeezing some Canadians. Macklem’s answer: The plan to stabilize prices “is working.” Galloway paired it with tough follow-ups: “What would you say to people who believed you?” and then later, “Why should Canadians trust you?” Accountability preview: In an interview last week on CBC Radio’s “The Current,” host MATT GALLOWAY played a clip of Macklem’s own words back at him from July 2020, when he said Canadians could be confident interest rates would remain low for a “long time.” Not usually an office under full-on assault by politicians, Macklem’s kinda noticed the heat turned up. Premiers DOUG FORD, DAVID EBY and ANDREW FUREY ganged up on the bank governor over the summer months, calling for a halt to rate hikes, warning it’s doing damage to the economy. Calls for his head: Conservative Leader PIERRE POILIEVRE first called on Macklem to step down during the party’s leadership race - which makes Playbook curious if he’ll pull a JAGMEET SINGH and show up at committee to throw some punches personally. One friendly sounding round on the agenda is labeled policy decisions and market forces that caused “increases in the cost of buying or renting a home.” The head of the central bank will face politicians at the Commons finance committee after his Oct.-25 update where he held rates steady. MONEY FIGHT - Bank of Canada Governor TIFF MACKLEM walks into the lion’s den late this afternoon. Today at FINA, he's going to get it worse. "Why should Canadians trust you?" Governor Tiff Macklem was asked during an interview last week.
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