The Secretary of the Treasury and the Chairman of the Federal Reserve meet frequently, many times for breakfast or lunch, often two or three times a week. The meetings are generally short, but not always, with no formal agenda and no staff.
This leaves considerable monetary stimulus in place, consistent with achieving the 2 per cent inflation target in an environment of significant excess supply in Canada. Any further reduction in monetary policy stimulus would need to be carefully considered. With that, Tiff and I would be pleased to take your questions. 2  BIS central bankers’ speeches