The Globe and Mail reports in its Saturday edition that Tiff Macklem became head of the Bank of Canada in June, 2020. The Globe's Mark Rendell writes that during his six years as Governor, the world has faced multiple crises: a pandemic, a major European war, surging inflation, the return of Donald Trump, disruptions in free trade and a conflict in the Middle East affecting global energy flows. With just under one year left in his seven-year term as Governor, Mr. Macklem is hoping to leave the institution in a better position to navigate a shock-prone world. The BOC is launching a new economic forecasting model to help central bankers understand how shocks in one part of the economy impact prices elsewhere through supply chains. The BOC misjudged inflation in 2021 and early 2022 because its models failed to account for supply-side disruptions from pandemic lockdowns. Later this year, the BOC and Ottawa will review the five-year mandate, focusing on monetary policy, measuring inflation in a volatile environment and its impact on housing affordability. Mr. Macklem is also using his pulpit to spell out risks to the global economy. He warned last month that large investments in the U.S. are creating a financial bubble.