During the decade of 1980’s and 90’s services like the ATMs and Point of Sale terminals started becoming ubiquitous and central banks implemented large value payment systems like the Real Time Gross Settlement Systems.
Against this semantic backdrop, I will begin my remarks with my perspective on the current inflation and economic situation. Then, I will consider credit conditions in response to the recent bank stress events. Next, I will offer some normative thoughts about strategic monetary policymaking in highly uncertain environments.