Information technology and financial services  Today's Forum focuses on information and financial services. Indeed, financial activities make full use of wide-ranging information technologies created throughout human history, and financial industries have almost always developed parallel to advances in various techniques and infrastructure related to information processing.
Let me stress that this is not a prediction on my part. I am only saying that, if there is no increase in global demand to offset the expected increase in desired savings, it may be difficult for monetary policy to effectively fulfill its role as the main short-run economic stabilizer in the years ahead.