BIS central bankers’ speeches  1  Whatever the reasons may be, a key problem that arose is that, as prices continued to fall due to these factors for a prolonged period, a deflationary mindset took hold among the public – that is, the belief became entrenched that prices would not increase but continue to steadily decline.
The original speech, which contains a link to the documents mentioned, can be found on the US Federal Reserve System’s website. *  *  *  Good morning. I am honored to give the opening remarks at this impressive conference.