Economy-related headlines over the past few days concerning Canada's current economic reality.

Global News: Economy hit 'sharp reversal in June. What this means for the Bank of Canada.

Global News: Bank of Canada prepared to raise rates further if inflation progress stall.  

Globe and Mail editorial board: Canada's economy is stagnating - we must acknowledge this new, unpleasant reality.  

In the U.S. the Fed raised its short-term interest rate to 5.3%, the highest since 2001. My lead to higher mortgage rates, auto loans, credit card interest rates and higher business borrowing costs.

So where are we now and what should we be preparing for, with a huge shortage of housing and rents also increasing massively across Canada?

Guest: Professor Eric Kam, Macroeconomics, Toronto Metropolitan University.

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