 Thank you, Regent Brown. We're also honored to be joined by University of Michigan Provost and former Ford School Dean Susan Collins. Provost Collins is a highly distinguished macroeconomist who's been named president and CEO of the Federal Reserve Bank of Boston. And she will finish up her impressive tenure at the university in just a short few days. I'm so glad to have her join us to speak to our graduates before she heads to Boston to fill this important position. Susan, welcome. Michael, thank you so much. And I'm also just delighted to congratulate you on your nomination to serve as vice chair for supervision at the Federal Reserve. Congratulations. Wow, what a tremendous pleasure to be here as provost, representing the university at this graduation ceremony. It is just a personal delight for me as well. As a faculty member at the Ford School, it is wonderful, just wonderful to be able to congratulate the class of 2022. You did it, and we're so proud of you. Ford School embodies things that we think are best about the University of Michigan. A diverse community, intellectual rigor, creative thinking, collaboration, impact, deep and lasting friendships. In your years here, you've contributed to each of these in many ways. And as you go forward to careers that will help shape the world, we have confidence, every confidence, that you will draw on these resources and gain strength from what you've learned here, helping to foster these qualities in the communities where you live and where you work. One of my predecessors as dean of the Ford School was Ned Gramlich, an economist who went on to serve on the Federal Reserve Board of Governors. When welcoming students each fall, he would note that to work in the policy world requires hard heads and soft hearts. To develop effective policies, he believed it's critical to do rigorous analysis and to blend it with compassion and with understanding of the hopes and the dreams of those that we are serving. Nelson Mandela, who knew a great deal about bringing change to the world, expressed a similar idea in saying a good head and a good heart are always a formidable combination. So as you move on to new work, new people, and new communities, I hope that you will put this formidable and effective combination to use in addressing the challenges that our world, our society faces. Today, with tremendous pride in your accomplishments and confidence in your abilities, we welcome you to the University of Michigan Community of Graduates, and we look forward to your continued success. Again, we're so proud of you. Congratulations, and go blue.