In other words, demographic forces and the lingering hangover from the financial crisis are pulling in the same direction, putting limits on our growth possibilities. BIS central bankers’ speeches  3  Policy response and the outlook for growth I’ve slowly come around to answering my own question about why this matters to a central banker.
And shortening the maturity of the public debt does make any government more susceptible, in theory, to fiscal dominance. There is also a general assumption that under fiscal dominance any government has a strong incentive to allow inflation to reduce the real value of the debt. In the case of the United States, there is less to that than one might expect.