Thank you so much, Mr. Chair.
I want to thank the governor and the deputy governor for being with us today.
Thanks to both of you for your extraordinary work, particularly during these very unprecedented and very difficult times.
I want to start off by just getting you to clarify very quickly, Governor. You had indicated in a question to my colleague across the way.... You said something along the lines that all levels of government spending plans could result in fiscal policy being out of touch with monetary policy.
Did I hear you correctly, and can you clarify that you're speaking of more than just the federal government spending? If you could clarify that for us, that would be great.