Carney Sounds Alarm: US Recession Imminent, Canada Braces for Impact

Ver Carney Sounds Alarm: US Recession Imminent, Canada Braces for Impact - Diario As en Dailymotion

Transcript

00:00Yes, the probability of a recession in the United States has gone up significantly, and

00:13I take no joy in that it becoming more likely.

00:17That will have significant effects on the Canadian economy.

00:20It's very hard for us to avoid that.

00:23We can give ourselves far more than the U.S. can take away.

00:27So the U.S. is driving itself into a recession, pressure on the world if the U.S. doesn't

00:33change course.

00:35But what we can control is where we invest here, how we support our people, and that's

00:39what we're doing.

00:44First off, I'll say I did speak to the Governor of the Bank of Canada today.

00:48I spoke to the Minister of Finance.

00:49I spoke to a number of counterparts in the last 24 hours around the world, including,

00:54as you know, Prime Minister Starmer.

00:58At present, let me say a few things and get the heart of it.

01:02What you worry about in these types of situations if you are charged with overseeing financial

01:06markets is, are there problems that are being created by the markets themselves, the banks

01:13themselves?

01:14Are there weaknesses?

01:15We do not see that.

01:16We have rock-solid financial institutions in this country, so they're not making it

01:19worse.

01:21I have confidence in the Governor of the Bank of Canada, the Minister of Finance, they're

01:26on top of it, and I also have confidence in Canadian institutions.

01:30So Canadians can be reassured on that.

01:40We cannot afford a fourth Liberal term of Mark Carney driving up spending, money printing,

01:47taxes and inflation while blocking our resource projects.

01:51We cannot afford that risk.

01:53We need a new Conservative government for a change that will axe taxes, greenlight construction

01:59of homes, mines, pipelines, LNG plants, bring home our jobs, so that we can reinforce our

02:05economic fortress against the Americans.