Thank you.
Governor, earlier you seemed to indicate that you were uncomfortable talking about fiscal policy. You said you were going to leave that to the politicians.
Economists have written about this. There is a nexus between monetary and fiscal policy that can't just be ignored by a governor of a central bank. Economists like Neil Wallace and Thomas Sargent have written about this. I'm sure you're familiar with their writings. In fact, they've said that fiscal backup is necessary for monetary tightening to essentially be effective.
I'm wondering whether you're concerned. Firstly, a budget is coming up. Does it keep you up at night that the government may blow the bank again and increase spending dramatically and throw all your estimates out the window?