In recent history, the health of the U.S. financial system remained solid after the collapse of the high-tech boom, despite the bankruptcy of dozens of telecom and dot-com firms, the loss of more than $ trillion in stock market wealth, and stress in the nonfinancial corporate sector.
Canadians are looking for ways to protect themselves from rising prices, and we are working to protect them from entrenched inflation. It will take time to get back to solid growth with low inflation, but we will get there. By working through this difficult phase, we will get back to price stability with sustained economic growth, which benefits everyone.