I don't think there's any question that we should be withdrawing both monetary and fiscal stimulus. Frankly, we should have started withdrawing it a long time ago.
It became pretty obvious fairly quickly after the pandemic began that it was not an economy-wide shock; the biggest shock was to specific industries providing face-to-face services. At that point, somewhere around May or June 2020, we should have started switching away from an economy-wide stimulus, especially monetary stimulus, and started channelling money targeted specifically at these people. We've just kept at it with the economy-wide monetary stimulus. In retrospect, it's now becoming increasingly obvious that monetary stimulus was not the way to go in this particular crisis.