1 I should say at the outset that I will focus today on the economic and financial problems and policy responses in the United States. However, because capital markets and financial institutions are linked globally, financial dislocations and their consequences have been felt around the world.
•  Very many people, I may even say, most people, including myself, do not and can not remember the times when inflation in Serbia was lower than it is today. The reason is very simple, they were not born yet!