Thank you very much, Mr. Chair.
I'd like to welcome all the witnesses, in particular Professor Pineau from the HEC business school in Outremont, which is very dear to our hearts. I'll have some questions for him in a few minutes.
I will begin with Professor Stanford.
Professor Stanford, you mentioned in your opening statement the claims from the Conservatives—and I've certainly heard these claims—that the federal deficit has been a significant cause of Canada's recent inflation. These are simply not true. As an economist, as someone who is completely independent and an expert in the topic, can you provide our finance committee with your view? Can you help Canadians unpack that?