Last month, Bank of Canada Governor Stephen Poloz gave a speech at the Federal Reserve Bank of San Francisco. He was introduced by Sylvain Leduc, whom Poloz hired as a deputy governor in 2016 but then lost to the Federal Reserve System in 2018.
“I can’t think of a better person to have led the Bank of Canada through very tumultuous times,” Leduc, who is now director of research and executive vice-president at the San Francisco Fed, said of his former boss. “Governor Poloz was really tailor-made to deal with the trade tensions that impacted very negatively Canadian exports and Canadian investment.”
I thought I’d borrow Leduc’s introduction to get us started on processing the news that Poloz, who turned 64 in October, will retire when his seven-year term ends in early June of 2020.
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