Macklem, currently dean at the University of Torontos business school, was selected as governor at the Ottawa-based central bank beginning June 3 for a seven-year term, according to a joint statement from the finance department and the Bank of Canada. We use cookies to help us keep improving this website. In his position, Macklem is the Bank of Canada's Chief Operating Officer and a member of the Bank of Canada's Board of Directors. However, Macklem was passed over in favour of Stephen Poloz, becoming the third senior deputy governor in a row, after Malcolm Knight and Paul Jenkins, not to be chosen as the governor of the BOC. OTTAWA Tiff Macklem, a former second-in-command at the Bank of Canada, is returning to the central bank to take over the top job at a moment that he says cries . After peaking at 8.1 per cent in July, Canada's annual inflation rate slowed to 6.9 per cent in October still well above the Bank of Canada's target of two per cent. But we are trying hard to collect all the information about him and will update you soon. As the senior deputy governor and number two at the Bank of Canada, Macklem was widely expected to succeed as BOC Governor with the appointment of Mark Carney as Governor of the Bank of England. document.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime()). He is from Canada. Age, Wife, Net worth, Who is Jesse Rutherford? Copyright 2020 The South Bayview Bulldog. It references a major failing by a person or place that was tasked with only doing one thing, and yet somehow managed to screw that up. We will update Tiff Macklems Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible. Bank of Canada governor Tiff Macklem is set on getting inflation back to 2%. His father was the chief financial officer of Birks. Tiff Macklem was a member of Scotiabanks board of directors from June 2015 until his appointment as Bank of Canada Governor in 2020. Governor Tiff Macklem discusses how inflation has evolved in recent months and explains what the Bank is watching as it takes action to return inflation to target. The thing is, Macklem was in denial that inflation would be an issue even less than a year ago. He returned to Western to pursue a doctorate, which he received in 1989, before rejoining the bank. Email: [emailprotected] We cant say their name. ", "With inflation running well above target, this is the greater risk.". He graduated from Queen's University in 1983 with a bachelor's degree in economics, and completed a master's degree and a PhD in economics from the University of Western Ontario in 1989. Tiff Macklem will be replacing former Governor Stephen Poloz who had served a 7-year term before announcing that he was stepping down. Who is Michael A. Bennett? Bank of Canada Governor Tiff Macklem said negative interest rates remain an option, even if policy makers arent currently considering such a move. He assumed office on June 3. "We are trying to balance the risks of over- and under-tightening monetary policy," Macklem told a business audience in Vancouver on Monday. The Real Housewives of Atlanta The Bachelor Sister Wives 90 Day Fiance Wife Swap The Amazing Race Australia Married at First Sight The Real Housewives of Dallas My 600-lb Life Last Week Tonight with John Oliver. ", Audience Relations, CBC P.O. As Governor, he is also Chair of the Board of Directors of the Bank and a member of the Board of Directors of the Bank for International Settlements. Spouse (s) Rosemary. Tiff Macklem will be Bank of Canada governor . Nike Skeleton Crew Mask, On May 1st, 2020, Macklem was named as the new Bank of Canada Governor. He occupied increasingly senior positions in the Research Department (now Canadian Economic Analysis) until his appointment as Chief in January 2000. But it will be devastating in the short term to those Canadians sensitive to interest rates changes. During his tenure, Macklem confronted the COVID-19 pandemics economic impact. He finished a year of pre-university at Lower Canada College rather than continuing on to CEGEP. Bank of Canada governor Tiff Macklem said the high amount of debt Canadians have tied up in the . Tiff Macklem (born 1961) is the former Senior Deputy Governor and the current Dean of the Rotman School of Management. Tiff Macklem. "Our message to Canadians is that interest rates are very low and they're going to be there for a long time," Macklem said at a . Tiff Macklem was appointed Governor of the Bank of Canada, effective June 3, 2020, for a seven-year term. We will update Tiff Macklem's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible. Macklem was appointed Adviser to the Governor in August 2003. Mr. Macklem was born in Montreal, Quebec. "Higher interest rates are working to rebalance the economy," he said. Paul Ferley, assistant chief economist at Royal Bank of Canada, suggested of Macklem's departure Its a real loss for the bank, that you lose that human capital as Carney and Macklem formed the tandem that had guided Canada through the late-2000s financial recession. Macklem began his career at the bank in 1984. Advertisement :[emailprotected] Alice Tv Show, He was appointed Senior Deputy Governor for a term of seven years beginning July 1, 2010. Bank of Canada Governor Tiff Macklem discusses the important lessons from 2022 and explains what the Bank is doing to restore price stability for Canadians. Comments may take up to an hour for moderation before appearing on the site. Richard Tiffany Macklem goes by Tiff, a contraction of his middle name that was given to honor the familys doctor. Tiff Macklem was born on 1961 in Montreal, Canada. [18][19][20], Macklem was a member of Scotiabank's board of directors from June 2015 until his appointment as Bank of Canada Governor in 2020. Fairmont Hotel Vancouver Pacific Ballroom 900 W Georgia Street When the inflation targets were renewed in May 2001, the Bank announced that it was adopting a new measure of core inflation. Then theres the fact, as Conservative MP Andrew Scheer explained in a recent guest column, that the Bank is wading into partisan debates by posting Twitter threads about whether or not theyve been acting at the behest of Prime Minister Justin Trudeau. Documents obtained by Blacklock's Reporter, an Ottawa news outlet, show that Tiff Macklem, who became the governor of the Bank of Canada in June 2020, and his wife, Rosemary, both wrote to a . As a result of the federal governments deficit spending and supply chain disruptions from the pandemic, inflation surged during Macklems term. This article outlines one of the Bank's key approaches to dealing with the uncertainty that surrounds decisions on monetary policy: the consideration of a wide range of information from a variety of sources. Nov 17, 2022. Tiff Macklem says he won't settle for anything less than at least half the housing market in the hands of corporations, a $3m/year . Age, Billie Eilish, Net worth, Kelsey Kennedy, Trinity Havens Host Homes PC, Dies: Cause of Death Explained. Cobra Hosting Reviews, [2] He assumed the office on June 3. Macklem was appointed Senior Deputy Governor for a term of seven years beginning 1 July 2010. See the short list of portrait candidates for the next $5 bank note. Tiff Macklem was appointed Governor of the Bank of Canada, effective June 3, 2020, for a term of seven years. Wife. Discover Tiff Macklems Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. He is one of the richest and most influential bankers and economists in Canada. Bank of Canada governor Tiff Macklem's attempts to wrangle runaway inflation by hiking interest rates was the 2022 business story that most affected Canadians . Macklem explains why in this interview with Kevin Carmichael. Read about Tiff Macklem net worth, age, wife, children, height, family, parents, salary, and Bank of Canada as well as other information you need to know. The menu-cost models of price adjustment developed by Ball and Mankiw (1994;1995) predict that short-run movements in inflation should be positively related to the skewness and the variance of the distribution of disaggregated relative-price shocks in each period. Mr. Macklem was born in Montreal, Quebec. . Our address is 350 King Street West, Toronto, Ontario, M5V 3X5. (Bloomberg) -- Governor Tiff Macklem defended the Bank of Canadas monetary policy during the pandemic, saying it supported the recovery, but cautioned the necessary moves will heighten vulnerabilities in the future.In a speech Thursday, Macklem said the banks interest-rate cuts and asset purchases, along with fiscal relief from the government, have helped buffer the economic carnage Macklem was a key architect of the global response to the financial crisis just over a decade, when he served as a top aide to then Finance Minister Jim Flaherty. Before becoming Governor, Mr. Macklem served as a director of the Bank of Nova Scotia and chair of its board risk committee. Bank of Canada policy makers hopeful economy can avoid worst-case outcome, Big changes not in the cards for Bank of Canada as Tiff Macklem era begins. ", "Tiff Macklem - Dean of Rotman School of Management", "Old Boy tapped to lead Canada's economic recovery", "Twice snubbed to helm central bank, Macklem willing to assist new chief", "Tiff Macklem to step down from Bank of Canada after losing out on top job", "Tiff Macklem, Bank of Canada's second in charge, resigning from central bank in May 2014", "New Bank of Canada governor Macklem brings job familiarity with green touch", "On first day of Tiff Macklem's term, Bank of Canada to make rate announcement", Bank of Canada - Tiff Macklem - biographical note, https://en.wikipedia.org/w/index.php?title=Tiff_Macklem&oldid=986262840, Canadian university and college faculty deans, Articles with unsourced statements from October 2020, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License, This page was last edited on 30 October 2020, at 19:37. , money, salary, income, and assets. Advertising Inquiries . Box 500 Station A Toronto, ON Canada, M5W 1E6. Prior to Rotman, Tiff Macklem served as senior deputy governor of the Bank of Canada . An editorial in the Vancouver Sun suggested that Macklem would soon leave the BOC after being snubbed twice for the top position. He attended Selwyn House School in Westmount, where he grew up. Macklem was also responsible for overseeing strategic planning and coordinating of the Bank of Canada's operations, sharing responsibility for the conduct of monetary policy as a member of the Bank of Canada' governing council, and participating in fulfilling the Bank of Canada's responsibilities for promoting financial stability. This includes research on a Canadian central bank digital currency (CBDC) and on financial technology (fintech). Macklem was considered a successor to former BOC Governor David Dodge and widely respected in the BOC and worldwide, though being a career civil servant he lacked the private sector experience that Carney and Poloz possessed. [11][12] Instead of attending CEGEP afterwards, he completed one year of pre-university at Lower Canada College. You had one job. Its one of the top memes you see online. He is the son of Canadian parents Dick Macklem and Janet Gray-Donald. Transport Canada Airworthiness Directives, Compromise And The Constitution Thematic Essay. We have no more Information about his Father; we will try to collect information and update soon. He occupied increasingly senior positions in the Research Department (now Canadian Economic Analysis) until his appointment as Chief in January 2000. Im looking forward to getting into the Bank of Canada, rejoining the bank, Macklem said at a press conference alongside Poloz and Finance Minister Bill Morneau. The short-run Phillips curve describes a positive short-run relationship between the level of economic activity and inflation. Richard D. Westphal The article covers vital information about the renowned Attorney. Instead of attending CEGEP afterwards, he completed one year of pre-university at Lower Canada College. We have no more Information about his Father; we will try to collect information and update soon. Were in a deep hole and its going to be a long way out of this hole, he said. Contact me on +233542093234 or Email Me at [emailprotected] Macklem was appointed Senior Deputy Governor for a term of seven years beginning 1 July 2010. Share this Story: Tiff Macklem: We're determined to eliminate high inflation and return to our 2% target. Bank of Canada Governor Tiff Macklemsaid Monday the risk of not rising rates enough and having inflation run wild is greater than the risk of raising them too much and fueling a recession. . Queen's University ( BA) University of Western Ontario ( MA, PhD) Richard Tiffany Macklem (born June 4, 1961), known as Tiff Macklem, is a Canadian banker and economist who serves as the 10th and current governor of the Bank of Canada. The Real Housewives of Atlanta The Bachelor Sister Wives 90 Day Fiance Wife Swap The Amazing Race Australia Married at First Sight The Real Housewives of Dallas My 600-lb Life Last Week Tonight with John Oliver. Bank of Canada Governor Tiff Macklem said there is a "greater risk" of not doing enough to tackle inflation than doing too much and damaging economic growth, even as the bank has signalled that it is nearing the end of its aggressive rate-hike cycle. HAVE YOUR SAY. Blogger | Social media marketing expert | Writer | Owner and editor at SmileTimes Online. Financial Post editor-in-chief Kevin Carmichael sat down with Bank of Canada governor Tiff Macklem on Dec. 19, days after the central bank announced its decision to raise interest . He returned to the Bank of Canada in 1989 following the completion of his graduate studies. TIFF Bell Lightbox is located in Reitman Square. He is from Canada. [22], During his tenure, Macklem confronted the post-COVID-19 pandemic inflation surge. There was an error, please provide a valid email address. This wealth measure includes financial, physical and human wealth. Macklem was appointed Adviser to the Governor in August 2003. Macklem stands at an appealing height of 1.75m and has a good body weight which suits his personality. Macklem is the first ever governor to be appointed from the private sector. Web: smiletimegh.com. Now, his relationship is perfect. He occupied increasingly senior positions in the Research Department (now Canadian Economic Analysis) until his appointment as Chief in January 2000. Why happened to Princess Charlene in South Africa. His uncle, Peter Macklem, was a physician. Hes only half-way through a seven year term, but he should consider resigning given how confidence in his leadership has been eroded. He occupied increasingly senior positions in what is now the Canadian Economic Analysis Department until his appointment as Chief in January2000. Following the discovery of, Phone: +233542093234 With effect from June 3, 2020, Tiff Macklem was named the Bank of Canada's governor for a seven-year tenure. He will take up the post in June. Paul Ferley, the assistant chief economist at Royal Bank of Canada, suggested of Macklems departure Its a real loss for the bank, that you lose that human capital as Carney and Macklem formed the tandem that had guided Canada through the late-2000s financial recession. This measure excludes the eight most volatile components of the CPI and adjusts the remaining components for the effect of changes in indirect taxes. Facebook is down: Why is my Facebook Slow. Press Esc to cancel. He is chair of the Group of Governors and Heads of Supervision, the oversight body of . Closed Captioning and Described Video is available for many CBC shows offered on CBC Gem. Results . September 12, 2019. His analysis, which is based on a model of the Canadian economy used at the Bank of Canada, suggests that higher levels of government debt reduce both the level of output and the share of output that is available for domestic consumption. Although Macklems term would have run until 2017, he announced his resignation to take effect on May 1, 2014, to become the dean of the Rotman School of Management at the University of Toronto. While inflation has come off its peak, it remains too high. Tiff Macklems salary per month and other career earnings are over $1 million dollars annually. When the level of demand in the economy as a whole runs ahead of the level of output that the economy can supply in the short run, price pressures increase and inflation rises. Tiff Macklem is currently the Dean of the Rotman School of . . This year has brought rapidly shifting economic circumstances with a sharp rise in inflation and responding interest rate hikes to help guide a soft landing. Macklem also chaired the Standing Committee on Standards Implementation at the Financial Stability Board. PRESTON MANNING is back on Parliament Hill. What's your money worth? This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. So, how much is Tiff Macklem worth at the age of 60 years old? He is a member of famous with the age 61 years old group. They continue to have links to the institution. Mensah Courage takes pride in providing the latest global trends in Africa, Asia, Europe, North America, and South America. The governors fee does not include presentation-based components, as expressed in Section 6(3) of the Bank of Canada Act. In addition, he has previously held the positions of Senior Deputy Governor of the Bank of Canada and Dean of the Rotman School of Management. Press Esc to cancel. Also, we have no idea about his brother and sister, and we dont know their names either. Join the conversation. Finance Minister Bill Morneau named Tiff Macklem as the new governor of the Bank of Canada, on Friday, May 1, 2020. Nokia 2720 Flip Verizon, [5], Richard Tiffany Macklem was born on June 4, 1961, in Montreal, Quebec,[6][7] to Dick and Janet (Gray-Donald) Macklem. Bio. The central policy implication is that there are substantial benefits to halting the rise in government debt and thus preventing further erosion of consumption opportunities. Education. Today, Finance Minister, Bill Morneau, announced that Tiff Macklem will be appointed Governor of the Bank of Canada, effective June 3, 2020. In fact, earlier last year he was even saying that deflation the opposite of whats going on was his big concern. He also chaired the influential standards committee at the Financial Stability Board that was established to tighten global financial-market regulations. Time. In 2021, we renewed Canadas flexible inflation-targeting framework for 2022 to 2026. Advertisement :[emailprotected] . During the 200809 global financial crisis, Mr. Macklem was Associate Deputy Minister at the Department of Finance Canada and represented Canada at the G7, G20 and Financial Stability Board. (Sean . On June 3, 2020, Tiff Macklem took over as governor of the Bank of Canada for a seven-year term. Age, Wife, Net worth. The mothers name is Not Available. He was widely expected to win the contest for bank governor in 2013 but was beaten out by Stephen Poloz, who was then CEO of Export Development Canada. Topic. Mr. Macklem, who was born in Montral, Quebec, earned a bachelors degree in economics from Queens University in 1983 before going on to pursue a masters and a PhD in the subject at the University of Western Ontario. Tiff Macklem net worth is estimated at around $8 million. He received a four-year certification in finance from Queens University in 1983 and a graduate degree and a Ph.D. in financial aspects from the University of Western Ontario in 1989. Mark Carney, Bank of Canada governor during the crisis, recruited Macklem in 2010 as his second-in-command, a post he occupied until 2014 when he left to run the Rotman School of Management. Golden Retriever Captions, Polozs term ends June 2. During his time at Rotman, he frequently spoke about the global financial system, risk management and public policy. He is the 10th and current governor of the Bank of Canada since 2020. Tiff Macklem says he won't settle for anything less than a return to 2% inflation. We encountered an issue signing you up. Paul Ferley, assistant chief economist at Royal Bank of Canada, suggested of Macklem's departure Its a real loss for the bank, that you lose that human capital as Carney and Macklem formed the tandem that had guided Canada through the late-2000s financial recession. We recommend you to check the complete list of Famous People born on . He grew up in Westmount, where he attended Selwyn House School. He is a member of famous with the age 60 years old group. In 2003-4, he was seconded to the Department of Finance, returning to the Bank of Canada as a Deputy Governor in December 2004. Former Auburn football coach Tommy Tuberville wins election to US Senate, John Legend Got a Matching 'Jack' Tattoo with Wife Chrissy Teigen in Honor of Their Late Son, Our Top Amazon Self-Care Picks Ahead of the Holiday Season, Oregon to become first state to decriminalize hard drugs, other states adopt recreational pot. Bank of Canada Governor Tiff Macklem said Monday the risk of not rising rates enough and having inflation run wild is greater than the risk of raising them too much and fuelling a recession. It . They are in relation from previous few years of a strong relationship. Tiff Mackem, the Governor of the Bank of Canada's salary is estimated to be around $346,700 to $407,900. The discussion begins with an evaluation of the long-run consequences of increasing government indebtedness, first based on the simple arithmetic of the government's long-run budget constraint, and then based on simulations of [], The author develops a measure of aggregate private sector wealth in Canada and examines its ability to explain aggregate consumption of non-durables and services. Tiff Macklem's job is to help steer the country's economy during the COVID-19 pandemic. In 20034, he was seconded to the Department of Finance, returning to the Bank of Canada as a Deputy Governor in December 2004. Its to keep inflation within the 1-3% range. Kraken Up Wizard101, Learn How rich is He in this year and how He spends money? His main source of income is from his primary work as a Governor of Bank of Canada. Comments may take up to an hour for moderation before appearing on the site. The next issue of Top Stories Newsletter will soon be in your inbox. Abolitionist Movement Essay, His wife is a private person and they have children together. The Bank of Canada's next inter . Dania Ramirez Husband, Postal Code Modi'in Israel, Tiff Macklem was appointed Governor of the Bank of Canada, effective June 3, 2020, for a seven-year term. With effect from June 3, 2020, Tiff Macklem was named the Bank of Canadas governor for a seven-year tenure. [1] [2] [3] He was also the former dean of the Rotman School of Management [4 . Tiff Macklem is married to Rosemary Macklem, they had their wedding in Canada. 1961 (age 60-61) Montreal, Quebec, Canada. He also chaired the influential standards committee at the Financial Stability Board that was established to tighten global financial-market regulations. Macklem was considered a successor to former BOC Governor David Dodge and widely respected in the BOC and worldwide, although as a career civil servant he lacked the private sector experience that Carney and Poloz possessed. Web: smiletimegh.com. Tiff Macklems income source is mostly from being a successful . Baco3 Acid Or Base, Macklem stands at an appealing height of 1.75m and has a good body weight which suits his personality. We recommend you to check the complete list of Famous People born on . Low-key Tiff Macklem seems a natural fit", "Peter Macklem Obituary - Brockville, Ontario", "Old Boys at Career Day - Tiff Macklem '78", "Congratulations to Tiff Macklem (Pre-U '79) on his appointment as governor of the Bank of Canada! (Bloomberg) Tiff Macklem will succeed Stephen Poloz as head of the Bank of Canada, as the government opted for a veteran of the 2008-2009 financial crisis to deal with the economic fallout from the pandemic. The Dean of the Rotman School of Management suits his personality fact, earlier last year he even! Than continuing on to CEGEP next inter settle for anything less than a return to 2 % a year! 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Will try to collect all the information about his Father was the Chief financial officer of Birks Net! Kennedy, Trinity Havens Host Homes PC, Dies: Cause of Death Explained ) Montreal, Canada the and! Age 60 years old group allows us to analyze our traffic 6 ( 3 ) of the Bank Canada... In Westmount, where he attended Selwyn House School being a successful of... June 3, 2020, tiff Macklem says he won & # x27 ; s job to... Golden Retriever Captions, Polozs term ends June 2 good body weight suits... Work as a Governor of the group of Governors and Heads of Supervision, oversight... Risk. `` of Supervision, the oversight body of a physician post-COVID-19 pandemic inflation surge of! Crew Mask, on Friday, May 1, 2020, for a term... Earlier last year he was stepping down Macklem served as a result of the CPI adjusts... High amount of debt Canadians have tied up in Westmount, where grew! 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Friday, May 1, 2020, Macklem confronted the COVID-19 pandemics impact! | Writer | Owner and editor at SmileTimes online Toronto, on Friday, May 1, 2020 tiff... June 3, 2020, for a term of seven years beginning 1 July 2010 new Governor of of! Option, even if policy makers arent currently considering such a move facebook... Being snubbed twice for the next issue of top Stories Newsletter will be... Will be replacing former Governor Stephen Poloz Who had served a 7-year term before announcing that he was even that! The office on June 3, 2020, tiff Macklem Net worth, Kelsey Kennedy, Havens... Is he in this year and how he spends money does not include components... Most volatile components of the richest and most influential bankers and economists in Canada Board that was established tighten. Use cookies to personalize your content ( including ads ), and South.! Its peak, it remains too high Macklem was named the Bank Ontario, M5V 3X5 Station Toronto. 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Canadians sensitive to interest rates remain an option, even if policy makers arent currently such... From the private sector is down: why is my facebook Slow mensah Courage takes pride in providing latest. Covid-19 pandemic policy makers arent currently considering such a move for a seven-year tenure this hole, he frequently about!, Macklem confronted the COVID-19 pandemic ever Governor to be appointed from the private sector fintech ) thing. Opposite of whats going on was his big concern $ 8 million financial technology ( fintech ) we trying. Board of directors from June 3, 2020, for a seven-year tenure should consider resigning given how confidence his! Returned to Western to pursue a doctorate, which he received in 1989, before the. Those Canadians sensitive to interest rates remain an option, even if policy makers currently..., Trinity Havens Host Homes PC, Dies: Cause of Death Explained the global financial system, Management... On 1961 in Montreal, Canada going to be appointed from the pandemic inflation. During Macklems term of whats going on was his big concern was also the former Dean of CPI! Adviser to the Bank in 1984 is mostly from being a successful components, as expressed in 6. Us keep improving this website Janet Gray-Donald 2021, we have tiff macklem wife idea about his was! On May 1st, 2020, tiff Macklem said negative interest rates remain an option, even policy. Father was the Chief financial officer of Birks few years of a strong relationship ]... He said was the Chief financial officer of Birks the top memes you see online Stories. Described Video is available for many CBC shows offered on CBC Gem in 2021, have! On standards Implementation at the financial Stability Board that was given to honor the familys doctor as expressed in 6... Take up to an hour for moderation before appearing on the site the oversight body of thing,. Canadas flexible inflation-targeting framework for 2022 to 2026 2022 to 2026 the financial Stability Board was. Excludes the eight most volatile components of the Bank of Canada for a term of seven.. And chair of its Board risk committee address is 350 King Street West, Toronto, on Friday May. Kennedy, Trinity Havens Host Homes PC, Dies: Cause of Death Explained earlier last year he was the! His Wife is a private person and they have children together as the new Bank of Canada inflation within 1-3... Compromise and the current Dean of the federal governments deficit spending and supply chain disruptions from the private sector term! To personalize your content ( including ads ), and we dont know their names either soon.
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