I would be very pleased if the data we receive on inflation and the labor market this month show signs of moderation, which would suggest that the February data releases  2/3  BIS - Central bankers' speeches  were just a bump in the road and that progress is continuing.
This spurred an unsustainable boom in consumption as well as excessive risk-taking, both among consumers and financial institutions. These imbalances contributed to the large financial distortions and bubbles in global financial markets, which created the preconditions for today’s crisis. Neglecting imbalances as a source of risk is not the best way to improve the crisis prevention arm of the IMF.