Is there anything more frustrating than some court economist declaring that we face serious economic problems but the causes are just a bewildering puzzle that largely defy explanation? Just for starters, Tiff need look no further than the current federal government’s open hostility towards investors.
At the conference, Macklem said the central bank expected productivity growth to pick up coming out of the pandemic as companies found the workers they wanted to hire and the supply chain started to normalize.
“It hasn’t happened,” he said. “That’s why we made such a stark statement.”
The solutions are apparent — more investment in machinery, equipment, information technology, etc. — but Macklem said the tougher question is why that isn’t happening.
“There are some puzzles there,” he said. “We have all the ingredients; we have got to cut through obstacles.”




