A convenient starting point for my presentation is to first clarify what we mean by “financial literacy”. In the conventional definition, “financial literacy” is seen as “the ability to make informed judgments and to take effective decisions regarding the use and management of money”.
Navigating monetary policy Although last year we faced a disconnect between the continued strengthening in the labor market and the step-down in inflation, mounting tailwinds at a time of full employment and abovetrend growth tip the balance of considerations in my view. With greater confidence in achieving the inflation target, continued gradual increases in the federal funds rate are likely to be appropriate.