Who wins, who loses in the fight against inflation
Most businesses and consumers expect a recession is on the horizon, according to a survey put out on Monday by the Bank of Canada. Next week, the central bank is expected to hike interest rates — again — to bring down inflation. But continuing to hike interest rates could actually help provoke that feared recession, leaving some wondering what the alternatives are.
Jim Stanford is an economist and director of the progressive think-tank the Centre for Future Work. He's also the author of a new report that argues against the Bank of Canada's "one-sided" approach to inflation. Today on Front Burner, he tells Jayme Poisson why he thinks this potential recession is a choice that will hurt regular people, and offers other tactics to ease the sting of inflation.