Part of the problem is the language we use. And unfortunately, in this context we're talking about things like full employment, NAIRU. Really what we're trying to talk about is trying to create price stability that creates an environment of economic growth that then creates a better standard of living for Canadians.
Also, you made a good point: monetary policy doesn't work in a vacuum. In actual fact, fiscal policy is terribly important in terms of setting out the structure, the competitiveness of the economy. And the structure of the economy matters in a very big way. Monetary policy can only change the cost of borrowing or the supply of money, and then what impact that has on the domestic economy. I think people give the Bank of Canada too much credit in terms of being able to micromanage the economy, just as I think markets and many people think that the government has more control over the exchange rate than it will ever have.