Special thanks should go to Miss Cynthia Mammon, ITAP’s indefatiguable Director and Chair for Events, whose persistence in finding a suitable schedule for us has caused my being here tonight possible.
But as we look ahead, spending growth needs to moderate so that demand does not significantly outpace supply and create a new domestic source of inflation. So we need to tighten monetary policy—or, to put it more simply, raise interest rates—to help control inflation. Where do we go from here?