Today, I would like to begin by talking about the current situation of and outlook for economic activity and prices based on the Outlook for Economic Activity and Prices (Outlook Report) that was released recently. The essence is that, while Japan's economy is likely to recover, inflation is expected to be relatively high in the short run and then decelerate (Chart 1).
While the previous three conferences focused on monetary policy issues, the papers presented at this conference relate to the Federal Reserve’s duty to maintain financial stability and contain systemic risk.