CIBC’s Tal: Rates, Recession Risk, Real Estate
Both the Federal Reserve and Bank of Canada have kicked off interest rate-cutting cycles. Both the U.S. and Canadian economies are facing questions about recession risk. And both U.S. and Canadian investors are wondering what’s next for stocks, real estate, currencies, and commodities. That’s why I sat down with Benjamin Tal, Deputy Chief Economist at CIBC Capital Markets, just ahead of our wildly successful 2024 MoneyShow Toronto conference. He covered all the bases for the benefit of investors in this week’s MoneyShow MoneyMasters Podcast segment.
We begin with a discussion of Canada’s economy, and how Benjamin believes it’s already in a “per capita recession” – with immigration the big factor keeping GDP from looking worse. He next covers labor market conditions on both sides of the U.S./Canada border...the past, present, and future direction of interest rates...and whether our two economies are headed for a soft landing or not. Benjamin then discusses the “tale of two markets” in Canadian real estate, how the changing economic and rate environment will impact currencies and gold, and what the upcoming U.S. presidential election could mean for taxes, trade, and growth. Finally, he covers the one factor that could drive more cash OUT of one asset class and IN to another in Canada.
If you missed our Toronto event, you can catch many more market experts like Benjamin at the 2024 MoneyShow Orlando. It’s scheduled for Oct. 17-19 at the Omni Orlando Resort at ChampionsGate. Click here to register: https://orlandomoneyshow.com/?scode=0...
00:26 - Canada's Per Capita Recession
02:19 - Bank of Canada’s Interest Rate Policy
05:15 - Soft Landing vs. Hard Landing
07:34 - Impact of Political Cycles on Fiscal Policy
10:30 - Canadian Real Estate: A Tale of Two Markets
13:06 - Stock Market, Commodities, and Currency Outlook
16:18 - Geopolitical and Inflation Risks
See our upcoming in-person and virtual events: https://www.moneyshow.com/live-events...
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