The first is the remarkable strength of the US economy relative to the economies of its major trading partners. Indeed, the US economy has been expanding more rapidly and operating at higher levels of capacity than were thought to be sustainable in the past.
However, central banking was not the only one to undergo change, as banking was also transformed, and changes in banking are a real reflection of overall societal and economic changes. Where is the National Bank of Serbia today? We belong to a group of central banks with the highest number of responsibilities.