Canadian Budget 2025: How should we be thinking about bigger deficits?
In response to tariff pressures and economic weakness, Budget 2025 commits big new spending to spark private investment and reignite growth – with higher deficits and debt as a result. In this episode of the 10-Minute Take, RBC Economist Claire Fan is joined by RBC Assistant Chief Economist Cynthia Leach to discuss: Why fiscal policy is the right tool to address the weak growth outlookHow the growth agenda is central to the government’s fiscal planWhether the budget does enough to catalyze growth – and the execution risks that could derail itIf Canada can afford to spend big right now
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When data goes dark: The ripple effects of a U.S. government shutdown
It’s the 23rd day of the U.S. government shutdown and 750,000 federal workers are furloughed.Significant data disruptions are clouding visibility over the economy just as the U.S. Federal Reserve restarts its rate-cutting cycle.In this episode of the 10-Minute Take, join RBC Economists Claire Fan and Carrie Freestone as they discuss:Why data disruptions may be more concerning than immediate economic disruptions.What alternative private sector indicators reveal about the current state of the U.S. economy.The Fed's likely path forward amid the data blackout and trade uncertainty.
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International trade 101—the Canadian edition
Amid the constant churn of U.S. tariff headlines, fundamental questions about Canada's trade often go unanswered. Questions such as:• What exactly does Canada export—and where does it all go?• Has Canada always been this dependent on the U.S. market?• Which provinces are most at risk from trade disruptions?• Should we worry less about tariffs on certain goods like fungible raw materials than others?In this episode on the 10-Minute Take, RBC Economics’ Claire Fan and Carrie Freestone dig into these questions and more.
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Rate Cuts and Crossroads: What’s Next for the Fed and BoC?
Both the Federal Reserve and the Bank of Canada returned from the sidelines this week – with widely anticipated decisions to cut their policy rate by 25 basis points. But behind these moves lie different motivations and signals, sparking debate over what this means for the economic outlook on both sides of the border. In this episode, RBC economists Carrie Freestone and Claire Fan unpack what drove these decisions and why they view the Fed’s action as a step toward policy normalization—not easing. Later, they shift their focus to Canada, where a mixed data picture begs the question: will the BoC cut rates again in October?
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Are U.S. tariffs close to achieving their goals?
U.S. tariff collection among imports are now at the highest level since the 1930s, and many are wondering how these policies are measuring up against their objectives. In this episode of the 10-Minute Take, RBC Economics' Assistant Chief Economist Nathan Janzen is joined by Senior Economist Claire Fan to discuss: • Who’s bearing the costs of tariffs so far.• The current and future prospects for U.S. manufacturing amid protectionist measures.• Whether tariff revenues can make a meaningful dent in America's massive federal deficit.• What these findings mean for the sustainability of U.S. tariff policy going forward.
Macroeconomics for everybody! The (new) 10-Minute Take podcast from RBC Economics will explain (in simple terms) what the latest economic data means and why you should care. It's everything you wanted to know but were too shy to ask -- in less than 10 minutes.
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