At the same time, increases in efficiency and a significant level of underutilized resources should help keep a lid on inflation. This favorable short-term outlook for the U.S. economy, however, is playing out against a backdrop of growing concern about the prospects for the federal budget.
Y V Reddy: Payment and settlement systems – select issues Valedictory address by Dr Y V Reddy, Governor of the Reserve Bank of India, at the Regional Payment Systems Workshop, organised jointly by the Reserve Bank of India and the Bank for International Settlements, Hyderabad, 20 October 2006.