*  *  *  Mr. Chairman, Ranking Member Shelby, and other members of the Committee, thank you for your invitation to this morning’s hearing on problems in mortgage servicing.
So a proper assessment of the degree of monetary ease in the economy has to consider both our low interest rates and the relatively low Canadian dollar. Now, what about the perception that any move by the Bank of Canada to less-stimulative monetary conditions means “slamming on the brakes” for our economy? Let me stay with the automobile analogy for a moment.