Crisis and Calm
Canada’s Central Bank From Dot-Com 2000 Through 2020 Covid Lockdown
by Greg Quinn

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This book documents a remarkable yet little-examined time for Canada’s economy and the people who manage it, from the Y2K bug and dot-com boom through the “Great Moderation” of inflation, to the global recession of 2008 and the Covid recession of 2020. Through this period Canada’s dollar hit record highs and lows, borrowing costs fell to record lows, and the bad times through Covid were at risk of becoming another Great Depression without massive intervention that was unthinkable in the early 1930s. Crisis and Calm examines how Canada’s central bank did and what lessons we can draw for the future, against political calls to fire the Governor of the Bank of Canada. The book argues the justification for strong economic policy is radically different in a crisis than in normal times, and in a crisis you must take strong action even if there is some over-adjustment. While monetary policy has been largely effective over the last two decades, especially compared with global peers, there are key ways decisions can be improved.

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Greg has reported on Canada’s economy for the last two decades, with Market News International and before that with Bloomberg. From delivering newspapers and working at the high school newspaper in Dartmouth, Nova Scotia, he went on to study economics at Mount Allison University before obtaining a Master’s in Economics at the University of Toronto and a Master’s of Journalism from Columbia University in New York. He has reported on everything from the price of hot dogs to the inner workings of the bond market, and nominated for a National Newspaper Award and a SABEW award. Greg lives in Ottawa with his wife and two daughters.

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Contributors

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Greg Quinn

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