However, it is also true that, as I mentioned today, there still remain gaps between the two. Going forward, I am sure that if academia and central banks continue to join forces in their efforts, this will produce important benefits to both sides. Thank you. 9  6  Lawrence H. Summers, “Have we Entered an Age of Secular Stagnation?
Otherwise, the challenge for monetary policy is to guide the economy to a sustainable path while preserving low inflation. This challenge is heightened by the unusual degree of uncertainty about the limits of capacity and potential growth, related in part to ongoing structural changes in the economy.