I'll have something more to say about this balancing act in a moment, but before I do I thought it would be fun to start out with a broader set of questions, especially given the exciting panel that is going to follow lunch. That panel includes monetary policy committee members from the European Central Bank, the Bank of England, Canada, and the United States.
Very nice job, Diane. So, I would like to get today's program going by posing a question to the first panel, actually a set of three interrelated questions about comparative central banking. First, how similar or different is the practice of monetary policy across the central banks represented on the panel? Second, if practices are different, what accounts for the differences?