The message here is that excessive dependence on monetary policy to deal with inflation carries real risks and that the only way of reducing inflation, without severe consequences for interest rates is by having a better balance between fiscal and monetary policy i.e. sharing the burden between the government and the private sector. What are the short term prospects?
By any measure, banking in the United States today is strong, vibrant, and profitable. However, a number of times in the past half-century, many informed observers questioned the longterm viability of commercial banking.