Sep 18, 2026 · 57 min
Canada Turns Away From Trump as Institutions Face Pressure
2: Canada’s Break With Trump Just Got MUCH Bigger (w/ JVL)
The episode connects Canada’s realignment with Europe to a broader warning about inflation, central-bank independence, disappearing tax data, and weakened accountability.
- 1Canada’s backlash against Donald Trump is accelerating political and economic distance from the United States.
- 2Trump’s poor inflation ratings reflect policies he chose, while attacks on the Fed threaten monetary-policy independence.
- 3Missing tax-gap data illustrates how weakened government information can make institutional accountability harder to enforce.
Don't miss
Rampell and Last debate whether Kevin Warsh’s apparent accommodation of Trump could protect the Fed’s independence or merely enable further attacks.
The brief
Catherine Rampell and Jonathan V. Last examine Canada’s growing distance from the United States, as Mark Carney’s leadership and closer European ties become politically plausible.
Canadians increasingly feel closer to Europe than America, while Trump’s backlash exposes how quickly an alliance can weaken when public opinion turns against its neighbor.
The discussion shifts to Trump’s exceptionally poor inflation ratings and his pressure on the Fed, raising questions about whether Kevin Warsh can preserve independence through accommodation.
Rampell and Last connect the disappearance of reliable IRS tax-gap data to a wider erosion of government information, accountability, and resistance to executive power.
The sharpest tension comes over whether institutional destruction should be resisted immediately or allowed to produce political consequences, with the Kennedy Center as a test case.
Featuring
Donald John Trump
European UnionListen to the full episode and explore every guest, topic, and moment on PodLume.