<p><span>Thank you, Mark, for the kind introduction, and good morning to all of you.</span><a title="footnote 1" href="https://www.federalreserve.gov/newsevents/speech/jefferson20240520a.htm#fn1"><span>1</span></a><a name="f1"></a><span> I am happy to be here. Today, I will do three things. First, I ll share with you my current outlook for the US economy. Second, I ll discuss my thinking on the current stance of monetary policy. Third, I ll review the dynamics of housing prices which can feed into the persistence of inflation.</span></p>
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RBI hopes that a higher EMI on an existing loan or a costlier new loan would dissuade enough people from borrowing money to fund future economic activity