It was with great interest that I read the recent results of a Bitkom survey, confirming the trend towards cashless, and in particular contactless payments – which has been boosted by the pandemic.2 In your survey, three-quarters of respondents stated that  1/6  BIS - Central bankers' speeches  they are using cash less often since the COVID-19 pandemic.
During the same period, following the financial crises that hit the countries of SouthEast Asia and Russia (1997-98) and the collapse of LTCM (autumn 1998), the Federal Reserve’s policy remained essentially accommodating, with a strong expansion of liquidity also to counter the so-called millennium bug. 3.