 approaching this question carefully. I thought that might be your answer. Thank you, Mr. Chairman. Can we shift now to the issuance of Treasury debt? The Fed is the largest holder of Treasury debt. In February, you and I talked about the pressures that our physical deficit is exerting on interest rates, which by extension makes your job more difficult. I'd like to talk this time about how Treasury issuance is impacting our economy and our monetary policy.