However, I note that a year ago the Fed did  -3issue warnings--successful warnings--about the dangers of excessive leveraged lending, and concerns about financial stability are clearly on the minds of some members of the Federal Open Market Committee, FOMC. Those are three powerful reasons to prefer interest rates that are higher than current rates.
Digitalisation will increase the pace of structural change in the financial sector, too – developments in the world of payments being just one notable example. Central banks need to deal with increased debt levels worldwide and, at present, with heightened inflationary rate. And they must play a role in the transition to a climate-neutral economy.