inflation cools and stocks are hot. You're listening to Motley Full Money.

I'm Mary Long joined today by Jim Gillies.

Jim, thank you for being here.

Thank you for the invite Mary.

Always, we've got a double whammy of economic news today in the states,

and I understand that there is perhaps an irony in talking to a Canadian about American macro moves in monetary policy, but we're going to give it our best shot

and see where we wind up. I'll throw you something and let us start on your home turf. The bake of Canada

reduced interest rates by a quarter of a percent last week.

That made it the first central bank in the G7 to begin an easing cycle.

How are the vibes where you are?

What's consumer sentiment look like and feel like up north?

Pretty bad actually. People are definitely feeling the pinch of what inflation hath wrought, particularly

at the gas pump as well as in your grocery aisles and your favorite

restaurants. In Canada the housing market, I realize that the housing market in

the US has been not great for the past little while.

People are feeling priced out, people are feeling stressed about mortgage rates

today. It is significantly worse in Canada and has been actually up here.

There are various reasons for that, not the least of which is that a lot of people

in the past five years pickled themselves in debt when buying a house because FOMO is a thing. GDP per capita in Canada has

meaningfully diverged away from GDP per capita in the US and not in a good way.

And there's some political and tax stuff as well

that I think probably would just bore most Americans,

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