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The Indicator from Planet Money

What happens when an economist becomes prime minister?

The Indicator from Planet Money

NPR

Business

4.7 β€’ 9.2K Ratings

πŸ—“οΈ 9 April 2025

⏱️ 12 minutes

🧾️ Download transcript

Summary

Today on the show, we meet Canada's new Prime Minister, economist Mark Carney.

What's it like when your former job β€” being a non-political banker who decides a country's interest rate β€” bleeds into your now-political decisions on everything?

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A polite message from Canada to the U.S. (Apple / Spotify)

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Transcript

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0:00.0

NPR.

0:11.5

The chair of the Federal Reserve is kind of supposed to be boring.

0:16.7

Nobody wants a flamboyant Fed chair talking off the cuff and maybe spooking the market.

0:22.8

And they're also supposed to be independent from political pressure.

0:26.8

If you're running the central bank, it could be tempting to juice the market in bad times.

0:32.5

Enter Mark Carney, who's merging those two worlds as Canada's new Prime Minister, and one of the only

0:39.8

world leaders who used to lead a G7 central bank, not just one bank, but two of them.

0:46.5

Here to tell us all about Mark Carney, his senior business reporter with the Canadian

0:50.8

Broadcasting Corporation, Enise Haydari.

0:53.3

Welcome, Anise. Thanks for having me back for the view from north of the 49th parallel.

0:58.0

Yes.

0:59.0

Both financial and political watchers here are saying, hey, can this guy switch from high-profile economist?

1:05.0

Plus, it's kind of a pivotal time for both economics and government in North America.

1:11.3

Just a smidge, we're fighting a little bit.

1:14.4

You're the master of the understatement.

1:16.5

Trade and political relations between the US and Canada are at this all-time low.

1:21.5

This is the indicator from Planet Money.

1:23.3

I'm Darien Woods.

1:24.6

Today on the show, we are looking at what it means when a job, like who is deciding a country's interest rate, bleeds into who decides everything else.

1:36.1

This message comes from Wise, the app for doing things in other currencies. Sending or spending money abroad, hidden fees may be taking a cut. With Wise,

1:45.8

you can convert between up to 40 currencies at the mid-market exchange rate. Visit wise.com.

1:52.2

TNCs apply. This message comes from MintMobile. MintMobile took what's wrong with wireless

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