In pursuit of our mandate, we will continue to deliver the financing conditions necessary to protect the economy from the impact of the pandemic. This is the precondition for stabilising aggregate demand and securing the return of inflation to our aim. 1 Beraja, M. and Wolf, C. (2020), “Demand Composition and the Strength of Recoveries”, mimeo.
2 Data from the ECB’s pilot Consumer Expectations Survey. 3 Von Wachter, T. (2020), “ The Persistent Effects of Initial Labor Market Conditions for Young Adults and their  Sources”, Journal of Economic Perspectives, Vol. 34, No 4, pp. 168–194. 4 Lagarde, C. (2020), “The monetary policy strategy review: some preliminary considerations”, speech at the “ECB  and Its Watchers XXI” conference, 30 September.