Mark Carney, a crisis-fighting central banker with extensive global experience, has been appointed Prime Minister of Canada, tasked with navigating the country through the US trade war. The Liberal Party won the election on Monday, and Carney will lead the minority government.
Born in Fort Smith, Northwest Territories, Carney attended Harvard University and played college-level ice hockey as a goaltender. He spent 13 years at Goldman Sachs before becoming deputy governor of the Bank of Canada in 2003. He later served as governor from 2008 to 2013, when he was appointed by the Bank of England.
Carney is known for his crisis management skills, having headed two G7 central banks and managed budgets, economies, and crises during his tenure at the Bank of England. He successfully steered the UK through the financial crisis and Brexit, earning praise from politicians and industry leaders.
However, Carney’s experience in politics has been limited to his time as a Liberal leader candidate, and he has faced criticism for his handling of the Brexit process. Despite this, his global expertise and reputation as a crisis manager make him well-suited to handle the US trade war.
Carney’s predecessor, Justin Trudeau, resigned amid low approval ratings after nearly a decade in office. Carney quickly axed unpopular policies, including a carbon tax on consumers and capital gains tax measures, before calling the election. He argued that his experience as a central banker made him the only person prepared to handle US President Donald Trump.
Carney will now face the challenge of steering Canada through the US trade war, which has had significant implications for the Canadian economy. With his global expertise and reputation as a crisis manager, Carney is well-equipped to navigate this complex issue and protect Canada’s interests.
Source: https://www.reuters.com/business/finance/mark-carney-crisis-fighting-central-banker-lead-canada-through-us-trade-war-2025-04-29