Thank you, Mr. Chair.
Welcome Ms. Wilkins and Mr. Poloz. We would like to thank and congratulate you. I don't want to speak for my colleagues, but I think there's a broad consensus on inflation targeting. Congratulations on the new agreement with the Government Canada.
This afternoon, I'd like to discuss what you said at the end of your presentation. If I understood correctly, you indicated that, at this point in time, new monetary policy measures would have little or marginal impact in Canada or around the world. You talked about the need for fiscal policy to take over, in terms of moving the economy forward. I don't want to put words in your mouth. I'll let you explain.
In light of your observations, how can Canada, but other countries as well, more effectively structure their monetary and fiscal policies to speed up growth in western countries?