I call this meeting to order. Welcome to meeting number 81 of the House of Commons Standing Committee on Finance.
Pursuant to Standing Order 108(2) and the motion adopted on Wednesday, January 12, 2022, the committee is meeting to discuss inflation in the current Canadian economy.
Today's meeting is taking place in a hybrid format pursuant to the House order of June 23, 2022. Members are attending in person in the room and remotely using the Zoom application.
I'd like to make a few comments for the benefit of the witnesses and members.
Please wait until I recognize you by name before speaking. For those participating by video conference, click on the microphone icon to activate your mike. Please mute yourself when you are not speaking.
For interpretation for those on Zoom, you have the choice at the bottom of your screen of either floor, English or French audio. For those in the room, you can use the earpiece and select the desired channel.
All comments should be addressed through the Chair. For members in the room, if you wish to speak, please raise your hand. For members on Zoom, please use the “raise hand” function. The clerk and I will manage the speaking order as best we can, and we appreciate your patience and understanding in this regard.
I'd now like to welcome our witnesses.
With us here today from BMO Capital Markets, we have Michael Gregory, who is managing director, deputy chief economist and head of U.S. economics.
From Desjardins Group, we have Jimmy Jean, vice-president, strategist and chief economist.
From the National Bank of Canada, we have Stéfane Marion, chief economist and strategist.
Thank you for joining us today, witnesses.
We are going to provide you now with an opportunity for opening remarks for up to five minutes. We will start with Mr. Gregory from BMO Capital Markets, please, for five minutes.