David Dodge
David Dodge
arisen asian building certain countries economies effects foreign massive playing problems rules
Recently, problems have arisen from countries not playing by the rules of the game. Certain Asian economies have been stifling the inflationary effects of their interventions and, in the process, building up massive amounts of foreign reserves.
monetary stimulus
There's still considerable monetary stimulus in the economy.
aggregate balance demand further increase inflation interest modest policy rate required supply
Some modest further increase in the policy interest rate would be required to keep aggregate supply and demand in balance and inflation on target.
balance combined fiscal government levels
It's the fiscal balance of all levels of government combined that are really important.
appears canadian continued economies economy full global grow operating production solid
The global and Canadian economies have continued to grow at a solid pace, and our economy now appears to be operating at full production capacity.
growth might outright period periods raises resort risk slow
Such a slowdown in growth, in turn, raises the risk that policy-makers might resort to protectionism. In that event, a period of very slow growth could, perhaps, be punctuated by periods of outright recession.
correct dollar global
We do see a need for some depreciation of the U.S. dollar over time, but that's to correct the global imbalances that are out there,
benefits clear deficit question sponsor surplus
While there is no question that the sponsor is responsible for any deficit in the plan, it is not at all clear that the sponsor benefits from any surplus that may be generated.