Certainly, our experience in the post-crisis years has tested those expectations repeatedly, and they have remained solid. This credibility is a crucial benefit of our inflation-targeting system. It allows us to look through inflationary forces that we expect to be temporary, such as those coming from movements in the Canadian dollar.
He or she has acted as the Chairman's deputy or alternate in important international groups, has headed ad hoc committees within the Board, System, or Federal Open Market Committee to help develop policy alternatives for consideration by the larger group, has helped the Chairman to lead the Board, and has worked closely with the Chairman in a variety of circumstances, including when responding to disturbances in the financial sector that had the potential of affecting the broader economy.