By Sean Mueck
Mark Carney has become Canada’s new Prime Minister, after officially being sworn into office last month. He has now become the 24th Prime Minister. The new leader of the Liberal Party took the reins from Justin Trudeau, who officially announced his resignation on January 6th after his approval ratings tanked. Trudeau was Prime Minister and the leader of the Liberal Party since 2015.
Mark Carney has entered as the country’s leader in historic times as tensions have become higher than ever before with enemies and allies. Trade wars most notably with the United States will prove extremely important as the country moves into unprecedented times.
Despite making it to the highest ranks in Canadian politics, Carney first found his start in the private sector, where he was most notably a central banker for over a decade at many different offices all over the world for the investment firm Goldman Sachs.
Carney also holds a bachelor’s degree in Economics from Harvard and earned a Masters and Doctorate degree in Economics from Oxford.
After working in the private sector, he notably transitioned to the government, where he became the Deputy Governor for the Bank of Canada in 2003. After this, he served as the Governor of the Bank of Canada from 2008 to 2013. Between 2013 and 2020 he worked overseas as the head of the Bank of England, subsequently becoming the first non-British individual to run the bank.
Despite numerous successes throughout his career, where he helped navigate the 2008 financial crash and the effects of Brexit, Carney still has minimal experience in politics.
Before becoming Prime Minister, his only former political experience was where he served as the economic advisor to Trudeau.
Despite concerns, Carney’s expansive experience in Economics will prove consequential as he navigates an increasingly tumultuous Trump presidency, which saw the stock market drop significantly. Despite this, Carney has stated his goals to invest more in housing, diversify trading partners, and control government spending.
How Carney navigates the current climate will prove very important for all of North America and their allies.
beniciapaw.com 