The rises would be temporary so long as inflation did not persistently deviate from its long-term price-stability target. But even in this preferred approach, the widely watched nominal federal funds rate would likely rise for a time. Current events With that backdrop, I will now turn to the current situation.
It is necessary to enhance the capability of financial and capital markets as a whole to convert a variety of fund management needs into economic growth, while utilizing each characteristic of indirect and direct finance. III.