Carney helping to craft recovery
Former BOC and BOE Governor Mark Carney continues to inch towards a political career in Canada. Bloomberg reports that he's acting as an informal advisor to Prime Minister Trudeau on recovery plans.
The plan will seek to tackle everything from deficiencies in the social safety net to climate change, infrastructure and immigration. The first measures are likely be rolled out in a budget update this fall before a more comprehensive fiscal package early next year, the person said.
Canada is three years away from an election but the Liberals would love to add him to the fold. They will likely look to parachute him into a by-election. That would give him some time to gain political experience ahead of the election, he would then be a leading candidate to replace embattled finance minister Bill Morneau.
The reality of Carney's central banking career is decidedly mediocre but his PR has been phenomenal. He would find an easier path to the top in the flailing Conservative party but evidently he's a loyal Liberal.