In the spirit of old year endings and new year beginnings, I would like to review last year’s economic performance, highlight some prospects for the upcoming year’s economic performance, and, finally, raise some topics related to the underpinnings of macroeconomics and monetary policy.
Discussion of these topics contextualizes our shared goal to accrue benefits derived from them while at the same time, remaining vigilant and prepared to intervene should systemic risks develop. Finally, the FSR also explores data gaps and other areas of policy interest. Better data is essential as empirical basis for our actions is required.