Those who feel that high growth and low inflation have come to form a permanent fixture may be suffering under some delusion. After all, viewed over the longer term, neither the duration of the upswing in the United States, nor the increase in productivity nor the rate of inflation are unique.
Preserving Financial Stability during COVID-19  10. The idea of financial stability in this broader sense moulded the  Reserve Bank’s approach during the pandemic, which was a unique crisis, more challenging than the global financial crisis of 2008, impacting both the real and financial sector in great severity.