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Economics

Desjardins Backs Trudeau on Inflation, Argues Against Austerity

  • Credit union wary of further spending cuts in slowing economy
  • Government taking fire for elevated levels of fiscal support
Justin Trudeau and Chrystia Freeland.
Justin Trudeau and Chrystia Freeland.Photographer: David Kawai/Bloomberg

One of Canada’s biggest credit unions is warning against deeper spending cuts from Prime Minister Justin Trudeau’s government to wrestle down inflation, saying the economy is poised to slow sharply. 

Desjardins Securities Inc. entered the debate on how fiscal policy should look amid soaring inflation Wednesday, saying in a report to investors that the government should continue on its current fiscal path.