And we will be prepared to lend funds to financial institutions under appropriate circumstances. Y2K testing, some people complain, is a pain in the neck and is costly. There are, for instance, issues of legal liability that go beyond simple customer complaints. Beyond the technical side of fixing the century date change problem lies the issue of educating the public and the media about what the true situation is rather than letting anxiety build through a lack of knowledge. It is going to be important for bankers and business leaders to build up confidence within their communities about their ability to solve Y2K operational problems.
Confidence is at the heart of our economic and financial system.
If the public loses confidence in our ability to handle the century date change, the whole business community will lose. You can expect media attention about this issue to intensify as the year progresses. It would be wise for bankers and business leaders to be prepared to answer reporters' questions about Y2K preparedness honestly and reassuringly. In conclusion, we are completing the eighth year of this economic expansion, which is now the second longest of this century. I believe the expansion will continue throughout 1999 and into 2000, thereby making this the longest expansion of modern times.