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Eyes on the Economy

CIBC
Canada
Federal Reserve
Bank Of Canada
United States
Oil Prices
Fiscal Policy
Housing Market
Non-Permanent Residents
Inflation
Population Growth
Canada Immigration Policy
Canadian Housing Market
Tariffs
Artificial Intelligence
Credit Quality
Canada's Mid-Year Fiscal Update
Statscan
United States Immigration Policy
GDP Growth
Toronto, Canada

A podcast series focused on examining the key drivers of the Canadian and US economies, including the global macroeconomic influences that impact them.

PublishesMonthlyEpisodes40Founded2 years ago
Number of ListenersCategories
InvestingBusiness

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Artwork for Eyes on the Economy

Latest Episodes

CIBC’s Avery Shenfeld and Benjamin Tal challenge some common assumptions about where Canadian population growth has been, where it’s headed, and what this means for Canada’s economic growth forecast and labour market ahead. Hosted by Simplecast, an A... more

CIBC’s Benjamin Tal and Helen Lao discuss how AI is affecting inflation, GDP growth and the policy challenge facing central banks, as near-term investment demand adds price pressure while longer-term productivity gains could prove disinflationary. Ho... more

CIBC Chief Economist, Avery Shenfeld, joins Helen Lao to examine how Canada’s lagging productivity growth impacts living standards and spending power compared to the US. They discuss why recent slippage in productivity, incomes and financial wealth l... more

CIBC Senior Economist, Katherine Judge, hosts a discussion with Chief Economist, Avery Shenfeld, as he compares inflation risks in Canada and the US, assesses the impact of higher oil prices, and discusses what it could all mean for interest rates in... more

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Recent Guests

Helen Lao
Economist guest discussing AI's impact on inflation and GDP
Episode: AI, inflation and the Central Bank dilemma
Benjamin Tull
Co-author on manufacturing piece, Canadian and US manufacturing expert
Episode: The state of fiscal policy and manufacturing in Canada
Ali Jaffery
Economist at CIBC
CIBC
Episode: Canada’s student immigration surge: Neither a blessing, nor a curse
Lawrence Schembri
Former Deputy Governor of the Bank of Canada, longtime staff member, former professor at Carleton University
Fraser Institute (affiliation mentioned in episode)
Episode: Navigating Uncertainty: Inflation, Interest Rates, and Growth Challenges in Canada
Benjamin Tal
Deputy Chief Economist, CIBC
CIBC
Episode: Unlocking the Housing Puzzle: Immigration, Rentals, and the Affordability Crisis
Avery Shenfeld
CIBC Chief Economist
CIBC
Episode: The need for rate cuts in Canada and the US, and if so, when?

Hosts

Katherine Judge
Executive Director and Senior Economist at CIBC Capital Markets; economist-focused host with deep experience in Canadian macro policy and labor markets.
Avery Shenfeld
Chief Economist at CIBC; frequent co-host discussing macro outlook, inflation, and policy implications.

Chart Rankings

How this podcast ranks in the Apple Podcasts, Spotify and YouTube charts.

Apple Podcasts
#104
Canada/Business/Investing
Apple Podcasts
#203
Canada/Business

Talking Points

Recent interactions between the hosts and their guests.

AI, inflation and the Central Bank dilemma
Q: So, Helen, let's start. Can you maybe try to explain how AI impacts inflation, both in the short and the long term?
AI can pressure inflation in the near term due to higher demand for inputs like semiconductors and electricity, but over time it should help productivity and reduce unit costs, potentially lowering inflation relative to a no-AI baseline; policy responses may need to adapt as the impact shifts across phases.
Mind the gap: How much has Canada's lagging productivity hit living standards?
Q: What did your study find regarding the median Canadian's living standards relative to the median American over the 2000–2024 period, especially around the 2014 turning point?
From 2000 to around 2013–2014, the median Canadian's purchasing power rose relative to the median American, but after 2014 oil-price declines and trade terms weakened Canada, erasing much of those gains and leaving the median Canadian with less relative purchasing power by 2024.
Mind the gap: How much has Canada's lagging productivity hit living standards?
Q: But can you explain why sometimes slower productivity growth might not translate one-to-one into the same living-standard gap between Canada and the U.S. when you account for prices and terms of trade?
Slower productivity growth can be offset by relative price movements and terms of trade; if Canada's export mix or the global prices of oil and other commodities shift, the same level of output growth may yield different purchasing power, causing a mismatch between measured productivity gaps and actual living standards.
Unlocking the Housing Puzzle: Immigration, Rentals, and the Affordability Crisis
Q: How is immigration translating into housing market impacts, particularly around rentals and supply?
Slowing immigration reduces rental pressure in the short term and ties into a longer-term positive youth dividend, while the shift toward purpose-built rental in cities like Toronto and Vancouver is reshaping the supply landscape and the affordability puzzle.
Unlocking the Housing Puzzle: Immigration, Rentals, and the Affordability Crisis
Q: What was the main message of the immigration piece you published?
The main takeaway is that immigration policy in Canada in 2023 was suboptimal, but the slowdown going forward could recalibrate how immigrants contribute to the economy, especially through higher productivity when arrivals come from Canada itself, and a larger share of the economic class.

Audience Metrics

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Frequently Asked Questions About Eyes on the Economy

What is Eyes on the Economy about and what kind of topics does it cover?

A sharply focused economics show anchored in Canadian and US macro themes, regularly featuring senior economists from major Canadian banks and policy-focused analysts. Episodes consistently dissect central bank policy paths, inflation dynamics, housing affordability, immigration and labor markets, and the interaction between oil markets, geopolitics, and monetary policy. The conversations blend base-case forecasts with alternative scenarios, weighing how fiscal moves, trade tensions, and regulatory shifts shape growth, investment, and rates. A distinctive angle is the host team's reliance on tight data interpretation and scenario planning from within the CIBC Economics ecosystem, often spotlighting policy trade-offs and sector-specific impl... more

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Which podcasts are similar to Eyes on the Economy?

These podcasts share a similar audience with Eyes on the Economy:

1. Curve Your Enthusiasm
2. Trumponomics
3. Odd Lots
4. The Rational Reminder Podcast
5. Thoughts on the Market

How many episodes of Eyes on the Economy are there?

Eyes on the Economy launched 2 years ago and published 40 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on Eyes on the Economy?

Recent guests on Eyes on the Economy include:

1. Helen Lao
2. Benjamin Tull
3. Ali Jaffery
4. Lawrence Schembri
5. Benjamin Tal
6. Avery Shenfeld

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