For additional discussion, see Lael Brainard (2021), “How Should We Think about Full Employment in the Federal Reserve’s Dual Mandate?” speech delivered at the Ec10, Principles of Economics, Lecture, Faculty of Arts and Sciences, Harvard University, Cambridge, Mass. (via webcast), February 24, https://www.federalreserve.gov/newsevents/speech/brainard20210224a.htm.
This has given our stakeholders the necessary information about the banknote and its security features. But there is also another reason why banknotes are a fundamental part of what we do – one which is more significant for the euro area than for others.