In short, the arguments about the difficulties of influencing activity should make central bankers cautious and modest about their role as cyclical stabilisers, but do not excuse them from taking the cycle into account in setting policy, and doing what they can to lop peaks and fill troughs. With inflation down, a consensus among central banks seems to be emerging.
Financial institutions have incurred huge costs and made many changes to their systems and processes in order to comply with the requirements of the Financial Transactions Reporting Act. Many a time, financial institutions would question the need to have these comprehensive anti-money laundering measures required by the FTR Act.