David Beckworth: Scott, welcome back to the show.
Scott Sumner: Thank you for inviting me, David.
Beckworth: Oh, it's great to get you back on the show. And last time we chatted, it was late February. Well, a lot has changed Scott since that time, particularly with the economy, COVID-19 has ravaged upon the U.S. economy. We know first-quarter GDP is down 4.8%, probably be revised down even farther when it's all said and done. We know there's an unemployment rate, close to 15%, 35 million have claimed unemployment insurance, benefits. Retail sales is down.