for more, we would like to welcome janice eberly, professor of finance and former chief economist at department of treasury. the jackson hole event this morning, talk to us about what you think is coming out. the narrative and the efficacy of monetary policy right now. how efficient is it? janice: i think there was good news and bad news for policymakers this morning. there was discussion both on the monetary side and fiscal side, so they were looking at the whole portfolio of policies during covid in particular and compared to past recessions. the good news was that policies had been pretty effective in reaching the business sector and not creating that kind of spillover, negative spillovers that one might have feared. in particular, there was concern and discussion about creating zombies, so the kind of firms that can only survive and live with policy reports. some of the results suggested that policy was not later -- laser targeted on firms that were needed but avoided providing a lot of support to firms that could only live with that kind of government support, so it was news on