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Bank of Canada Governor Critiques Trump’s Fed Influence

9/24/2025

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Summary

Story summary

Bank of Canada Governor Tiff Macklem criticized President Trump's influence on the U.S. Federal Reserve, raising independence concerns.
Trump's trade policies have weakened the dollar's safe-haven status, with nearly 10% depreciation since April.
Macklem urged Canada to boost productivity and pursue new markets.
He warned that ongoing U.S.-Canada friction will raise costs and reduce incomes in Canada.

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Story summary

Bank of Canada Governor Tiff Macklem criticized President Trump's influence on the U.S. Federal Reserve, raising independence concerns.
Trump's trade policies have weakened the dollar's safe-haven status, with nearly 10% depreciation since April.
Macklem urged Canada to boost productivity and pursue new markets.
He warned that ongoing U.S.-Canada friction will raise costs and reduce incomes in Canada.