David Dodge Quotations

Some modest further increase in the policy interest rate would be required to keep aggregate supply and demand in balance and inflation on target.

Recently, problems have arisen from countries not playing by the rules of the game. Certain Asian economies have been stifling the inflationary effects of their interventions and, in the process, building up massive amounts of foreign reserves.

Such a slowdown in growth, in turn, raises the risk that policy-makers might resort to protectionism. In that event, a period of very slow growth could, perhaps, be punctuated by periods of outright recession.

While there is no question that the sponsor is responsible for any deficit in the plan, it is not at all clear that the sponsor benefits from any surplus that may be generated.

We do see a need for some depreciation of the U.S. dollar over time, but that's to correct the global imbalances that are out there,

There's still considerable monetary stimulus in the economy.

These changes, whatever changes may take place, have a one-year effect.

This e-mail is either a perpetration by a very ignorant person or its a hoax, but whatever it is its absolutely wrong,

for all residual risks to the pension plan ? both outcomes that lead to deficits and outcomes that lead to surpluses.

It's the fiscal balance of all levels of government combined that are really important.

I'm not saying that a disorderly correction to global imbalances is certain to happen. Nor am I saying that the global economy is inevitably headed for a deflationary shortfall in demand. What I am saying is that, as prudent policymakers, we must not rely on good fortune to help us muddle through. We need to get going on these policy issues now, before it is too late to take remedial action.

The global and Canadian economies have continued to grow at a solid pace, and our economy now appears to be operating at full production capacity.

And for countries with a fixed exchange rate, this means that authorities need to run appropriate policies in order for the fixed exchange rate to be sustainable.