Economists say wages have rebounded, inflation is on target and the stock market is performing well. So why do so many people feel like they’re financially underwater?
Front Burner19:35Are we in an economic ‘vibe-cession’?
The Bank of Canada cut interest rates again this week. Economists say wages are up, inflation is on target and the stock market is in the green.
But most everyday Canadians are living a very different story. One of insanely high grocery prices, impossible housing costs and a suffocating economic squeeze.
Recently, Canadian finance minister Chrystia Freeland announced a temporary GST holiday on a bunch of stuff to give relief to people feeling the pinch.
But she went on to muse that the economic pain people were feeling might be the result of a “vibecession”. Think recession – but you know – only in your head.
Today, so are we in a ‘vibecession’?
Economist Armine Yalnizyan is our guest.
For transcripts of Front Burner, please visit: https://www.cbc.ca/radio/frontburner/transcripts
