North American Outlook: Tailwinds and Tariffs
North American Outlook: Tailwinds and Tariffs
Director and Senior Economist
Sal Guatieri is a Senior Economist and Director at BMO Capital Markets, with three decades experience as a macro economist. With BMO since 1994, his main responsibi…
Sal Guatieri is a Senior Economist and Director at BMO Capital Markets, with three decades experience as a macro economist. With BMO since 1994, his main responsibi…
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Key Messages
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Lower interest rates flag another year of solid growth for the U.S. economy and a pickup in Canada, but tariffs could upend things.
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The BoC and Fed look to lower rates another 75 bps in 2025, supporting a limited rally in bonds.
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The Canadian dollar will struggle against the mighty greenback until Trump's tariff thrusts are parried and the economy picks up
