These upward price pressures may ease as the bottlenecks are worked out, but it could take some time, and I will continue to monitor the situation closely and will adjust 1/4  BIS central bankers' speeches  my outlook as needed. Post–COVID-19 economic outcomes We know that economic downturns are hardest for lower-income people, those with less education, and some minority groups.
I believe that government responses to the pandemic—the lockdowns, school closures, and economic restrictions on businesses—significantly widened differences by income, education, race, and gender, and those disparities have persisted during the recovery. For example, we know that those with a high school education or less were among the hardest hit in the downturn last spring, and I am concerned about those individuals falling behind.