Moreover, as the private sector in many countries is seeking to conserve wealth in the face of weakening incomes and lower asset values, it will presumably attempt to save more of its current income; this might be particularly so for households.
Sustainability is our core business as a Central Bank. This holds true for all of us. By its very definition, we will not be able to survive in an unsustainable world. Already the Framers of the American Constitution knew this: “in order to secure the Blessings of Liberty, to ourselves and Posterity”. Posterity.