23 J. L. Yellen, “The Federal Reserve’s Monetary Policy Toolkit: Past, Present, and Future” (speech to a symposium  sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming, 26 August 2016). 24 S. Leduc and D. Wilson, “Roads to Prosperity or Bridges to Nowhere?
But the outlook is not all dark shades. Last year the Economist featured an article on the future of payments titled “Payments: the end of monopoly”. The title speaks for itself – banks are losing the grip on payments market. But according to McKinsey 34% of global profits banking industry is making from payments.