Thank you, Mr. Chair.
Governor, thank you for the work you do on behalf of Canadians. I appreciate your coming to committee.
When you were here about six months ago, we talked about fiscal and monetary policy. I believe you said that if the rate of growth in government spending could be at or below 2%, we would be good. Spending growth next year for the federal government is 6.7%.
I'm not steeped in economics and I always learn something from you every time you're here. I'm trying to understand how that is not inflationary pressure.