How liberating it must be for Stephen Poloz to go to work everyday knowing Stephen Harper is two time zones west of Ottawa and never coming back.
The Bank of Canada governor these days talks about Keynes almost as much as Twitter talks about Trump. If not a champion for Justin Trudeau’s deficit-spending plan, Poloz has emerged as important defender of the intellectual soundness of the young prime minister’s big economic idea. None of these things came out of his mouth while the guy who hired him was around, as Harper had no time for Keynes and deficits. Poloz said little about Harper’s obsession with a balanced budget, which in retrospect speaks volumes. Monetary policy and fiscal policy were out of sync, and there apparently was nothing the central bank governor felt he could say about it. As the central bank would tell you if you asked, that’s not its job.
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