For years now, central banks around the world have helped consumers and businesses weather economic storms. In crisis after crisis, they cut interest rates to help people get through. They printed money and bought bonds to prop up markets.
This time, those same banks are actively making life more difficult.
“I’m sure some of this does feel a bit counterintuitive,” said Bank of Canada governor Tiff Macklem.
I get the impression Tiff really enjoys his work.
