Entry Alphabet Job Country






Ruth Getter Polak

M.A., Ph.D,  Boston University;

Senior Vice-President
and Chief Economist

Toronto Dominion Bank


Some excerpts from various sources:

"The Canadian economy is in the best shape it has been in more than a decade, and from an economist's point of view, this is about as good as it gets,'' says Ruth Getter, Senior Vice President and Chief Economist at TD Bank Financial Group. ``The Canadian economy is firing on all cylinders now -- with consumers, businesses, exports and governments all contributing to a well-balanced economic performance.'' Canadians can look forward to a steady improvement in the economy and in the job market, as well as low inflation and low interest rates in 1999 and 2000.

“In principle, Canada easily could close the gap with American productivity and living standards, says the chief economist of the TD Bank. "Just act like them," says Ruth Getter. A TD senior vice-president who holds American and Canadian citizenships, she lived in Boston for 20 years. "To get as rich as the U.S., all we have to do is work a lot harder, value making money above everything else, allow employers to fire workers on two weeks' notice even if they've been there 30 years, that sort of thing."
But Canadians should remember that money is not the measure of everything, Ms. Getter advises. "Personally, I could make more in the States. I work in Toronto because life is better here. It's more humane, less of a grind, less of a constant dog-eat-dog environment. But superior civility doesn't show up on economic charts." On the other hand, the chief economist insists, Canadians cannot afford to let the income disparities between the two countries grow any wider or they will find themselves in truly serious trouble. "A gap we can live with but not an ever-widening gap. The federal government must reduce taxes."

December 15, 1997
Canada's GDP Rose by 4.1%, Boding Well for U.S. Exports
Ruth Getter, chief economist at Toronto Dominion Bank, predicted that consumers won't be spooked by the interest-rate increases. Canadians recognize that interest rates remain near historically low levels despite the latest rise, she said.
Ms. Getter said the Canadian economy is in good shape, with no signs of inflationary pressure and a good margin of spare capacity. She predicted that the economy will grow about 3% to 3.5% in 1998.




At Toronto Dominion Bank, there's an increasing emphasis on supporting the bank's home-grown securities business. "The TD is unique among banks in that it built the securities busi­ness £rom the inside," says Ruth Getter, senior vice-president and chief econo­mist. "Our department serves both the traditional bank and the securities side, which has grown enormously over the last couple of years.

"More and more of our resources are being used on the securities side, because that's where the growth is coming. Bank lending and deposit­taking stuff is still there, but it's no longer the primary growth area. We do an enormous amount of travelling around the country, speaking to groups like investment forums."


Another distinction claimed by the TD is that it has the only economics de­partment that widely disseminates in­depth analyses of provincial finances. "We do comparisons, we write up the budgets and so on," says Getter. "This is very highly valued because there aren't many people doing it. It's useful to the bank and its clients, but also to the gov­ernments themselves. They're curious to know what the others are doing and they like to know where they stand.


"People buying bonds want some­thing independent from the credit-rating agencies. We provide a more objective or comprehensive view of how the differ­ent provinces stack up, of what their budgets really say and how much trouble they're in. This is read very widely not only in Canada but also overseas."






























































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