When Tiff Macklem (Artsci카지노 게임 컬렉션83) started his new job as governor of the Bank of Canada in June 2020, it was two months after the country was shut down by the COVID-19 pandemic.
Forget about a honeymoon period to get used to the job. The world was, and still is, in crisis.
While doctors, nurses, and scientists work to get vaccines into the arms of Canadians, Mr. Macklem is focused on people카지노 게임 컬렉션s wallets and employment. The main role of the central bank, according to the Bank of Canada Act, is 카지노 게임 컬렉션to promote the economic and financial welfare of Canada,카지노 게임 컬렉션 which is why Mr. Macklem is trying to steer the economy toward a resurgence.
카지노 게임 컬렉션The sooner we beat this virus, the sooner large parts of our economy that have been badly affected can heal and start creating jobs again,카지노 게임 컬렉션 he says.
Normal activities such as eating in restaurants, shopping in malls, and taking vacations will hopefully resume in a few months. That카지노 게임 컬렉션s why Mr. Macklem is predicting strong growth in the second half of 2021 and early 2022, although a complete recovery to pre-COVID-19 economic conditions will take some time.
This isn카지노 게임 컬렉션t Mr. Macklem카지노 게임 컬렉션s first experience helping the economy during a global crisis. He was Canada카지노 게임 컬렉션s associate deputy minister of finance (under Minister Jim Flaherty) in 2008카지노 게임 컬렉션09, when economic leaders around the world feared the global financial system was in danger of collapsing. (The collapse didn카지노 게임 컬렉션t happen, but it was the deepest global recession we카지노 게임 컬렉션d seen since the Great Depression of the 1930s.)
Mr. Macklem was the top international official in the Department of Finance at the time and learned some valuable lessons. 카지노 게임 컬렉션In a crisis you have to act quickly and you have to be bold,카지노 게임 컬렉션 he says. 카지노 게임 컬렉션You need to try [to] overwhelm the crisis.카지노 게임 컬렉션
The pandemic has moved much faster than the 2008카지노 게임 컬렉션09 financial crisis and is more global, affecting literally every person in the world. Mr. Macklem카지노 게임 컬렉션s experiences in 2008카지노 게임 컬렉션09 taught him the critical importance of collaborating with both Canadian and international officials, weighing the risks of various policy options, and listening to diverse opinions to come up with the best approach.
Fellow Queen카지노 게임 컬렉션s alumnus David Dodge (Arts카지노 게임 컬렉션65, LLD카지노 게임 컬렉션02) knows exactly what Mr. Macklem is going through. Mr. Dodge served as the Bank of Canada governor from 2001 to 2008 and was on a plane flying home from Switzerland in 2001 when the Sept. 11 terror attacks happened.
Mr. Dodge feels Mr. Macklem is doing a great job leading the bank through this challenging time.
카지노 게임 컬렉션The fact that he has spent the last six years or so in Toronto with the business community means he has a very good and open line of communication with the financial markets, which is always helpful,카지노 게임 컬렉션 says Mr. Dodge, referring to Mr. Macklem카지노 게임 컬렉션s term as dean of the Rotman School of Management before taking the governor카지노 게임 컬렉션s job.
The Governor of the Bank of Canada has been described as the third-most important economic figure in government, behind only the federal minister of finance and the prime minister. So it might come as a surprise that when Mr. Macklem first came to Queen카지노 게임 컬렉션s in 1979, he had no idea economics was going to be a part of his future.
He started in geography while taking the odd economics course. He soon found himself drawn to economics because he liked the way it changed his perspective and made him think differently.
He cites an example of how rent control was used because of high inflation in the 1970s. As a student renting an apartment, he thought rent control was good. But when he went to his economics class, they discussed how capping rent would cause people to build fewer apartments, which would reduce the supply of available places to live.
카지노 게임 컬렉션Economics really broadened the way I was thinking,카지노 게임 컬렉션 Mr. Macklem says.
카지노 게임 컬렉션It makes you think beyond the direct and obvious consequences and think about what might be the unintended consequences of a policy.카지노 게임 컬렉션
Soon he was reading C.D. Howe Institute policy papers and books by now-retired Queen카지노 게임 컬렉션s economics professor Tom Courchene. By fourth year, he took only economics courses to have enough credits to graduate as an economics major and then went on to earn a master카지노 게임 컬렉션s degree and a PhD from Western 카지노게임사이트.
The only thing more important to Mr. Macklem than discovering a love for economics while at Queen카지노 게임 컬렉션s was starting to date Rosemary Cuthbertson (Com카지노 게임 컬렉션83). The two were married three years after graduating. They have been together for more than three decades now and have three children.
Two of their children 카지노 게임 컬렉션 Holly Macklem (Sc카지노 게임 컬렉션17) and Richard Macklem (Artsci카지노 게임 컬렉션13) 카지노 게임 컬렉션 graduated from Queen카지노 게임 컬렉션s, continuing the family카지노 게임 컬렉션s long history with the university. Tiff카지노 게임 컬렉션s father (Dick Macklem, Com카지노 게임 컬렉션52) and uncle (Peter Macklem, BA카지노 게임 컬렉션53) are among his many relatives who also called themselves Gaels.
Dick and Peter grew up in Kingston near campus at 18 Barrie St. Dick eventually moved to Montreal (where Tiff was raised), and Peter went on to a groundbreaking medical career that saw him posthumously inducted into the Canadian Medical Hall of Fame.
When Dick and Peter카지노 게임 컬렉션s mother, Katherine Bermingham Macklem, passed away in 1993, the family donated the house to Queen카지노 게임 컬렉션s, and it is now the administrative home for the Faculty of Health Sciences. Tiff Macklem is proud that his grandmother카지노 게임 컬렉션s home, which he used to visit as a child, is now a part of the university.
카지노 게임 컬렉션My uncle was a physician, so my grandmother had a soft spot for the medical school,카지노 게임 컬렉션 he says. 카지노 게임 컬렉션The idea that [Health Sciences Dean Dr. Jane Philpott] is in her house would make her very happy. I just think Queen카지노 게임 컬렉션s has done so much for our family. It카지노 게임 컬렉션s a wonderful feeling to give back.카지노 게임 컬렉션
카지노 게임 컬렉션The sooner we beat this virus, the sooner large parts of our economy can heal and start creating jobs again.카지노 게임 컬렉션
So, why do so many Queen카지노 게임 컬렉션s grads become governors?
Mr. Dodge and Mr. Macklem point to the economics department카지노 게임 컬렉션s connections to Ottawa in the 1960s, 카지노 게임 컬렉션70s, and 카지노 게임 컬렉션80s, when many professors were advising politicians and high-level civil servants.
카지노 게임 컬렉션I do think in that era Queen카지노 게임 컬렉션s had a strong economics department with a lot of people thinking deeply about economic policy. It was very connected to Ottawa,카지노 게임 컬렉션 says Mr. Macklem. 카지노 게임 컬렉션I am sure that rubbed off on all of us.카지노 게임 컬렉션 The economics department was also unique in that lessons went beyond the statistics and formulas that were taught in textbooks. There was a stronger focus on the real-world impacts of economic policies compared to other universities.
카지노 게임 컬렉션If you are trying to explain why three of us from the Queen카지노 게임 컬렉션s economics department from the 1960s, 카지노 게임 컬렉션70s, and early 카지노 게임 컬렉션80s became governors, you have to put it down to there was a policy activism at Queen카지노 게임 컬렉션s that was really quite strong,카지노 게임 컬렉션 says Mr. Dodge. 카지노 게임 컬렉션[The lessons were] more engaging and less academic.카지노 게임 컬렉션
