I'll make it very quick. I'll point out that if, for example, the overnight lending rate were to go up to 2%, that would be an 800% increase over the 0.25% we have now. It would be only a two-point increase, but it would go up eight times. The sensitivity of our economy to higher interest rates is so much bigger now, and therefore, the risk is so much bigger as well.
On May 12th, 2020. See this statement in context.