Thank you.
My questions will be for Mr. Stratton, because it's seldom that we have an economist at the table. Thanks for coming, both of you, from the Canadian Chamber.
Mr. Ste-Marie has already taken us down that path, but there are a few different pieces I want you to help me put together. Like so many other central banks around the world, the Bank of Canada pursued a policy of aggressive quantitative easing, especially early on in the pandemic, and it still hasn't tapered off its purchases of government bonds. You layer on top of that the massive stimulus that's happening in the United States and the infrastructure spending they're hoping to get passed down there. Add to that pretty strong GDP growth, and then on the sidelines you have corporate and household savings at record levels.
When you put all of that together, do we still need a $100-billion stimulus program in Canada? What could be the impact of all of these influences on our economy?