its part is therefore working hard and fast to create credit reference bureaus that will work towards improving information flow and solve the risk problems in the country. regulations for the licensing and oversight of the bureaus are expected to be gazetted by the minister of finance in the second half of this year. credit information sharing when fully developed and implemented will undoubtedly go a long way in facilitating access to finance by smes. ladies and gentlemen, before i conclude, i would also perhaps warn that with the economic vibrancy around us and innovativeness of banks like kcb, there are crooks that innovate very well but negatively. these are likely to rob us this financial sector dynamism from the jaws of victory and for us to safeguard against this, we need to take several measures : first, conduct due diligence on viable smes, they provide growth poles, but only if they are viable. second, be aware of pyramid schemes as they thrive on ignorance of the public. do not give them a chance – banks should close their accounts. third, provide more innovative products that reward depositors and savers that will ultimately raise returns to positive in real terms and squeeze the interest rate spread. with these few remarks ladies and gentlemen, it is now my pleasure to officially launch the kcb biashara banking. thank you and god bless.

the effects they will have going forward. as an economist looking at these issues on a microlevel, i appreciate the expertise on display at this conference. from my new perch as a fed governor taking the macro view, the research presented gives more context to the wider economic playing field. from either perspective, the technology - enabled responses and the changes brought about by the pandemic itself are important issues for policymakers to understand. they affect how we look at the economy overall. as i look ahead, i am considering how those changes affect the outlook, and i would like to speak a bit about how i see the economy evolving as we move forward. outlook 2 / 4 bis - the labor market remains strong, as can be seen across a variety of measures, from the low unemployment rate to the high quits rate, which illustrates the confidence of workers who are willing to leave their jobs in pursuit of better ones. labor force participation remains lower than it was prior to the pandemic, reflecting several factors, including people who left the workforce for early retirement and some remaining parents and other caregivers who stayed home through the pandemic. these are not factors that reverse on a dime. with still - strong labor demand and sluggish labor supply, the job market remains very tight. workers are moving between jobs more rapidly than in the past, putting upward pressure on wages. in a market with more job openings than workers, the competition to fill vacancies is leading to rapid wage gains now, and the resulting salary compression may lead to further upward wage pressures in the future. as growth has slowed this year, supplya€ “ demand conditions in the labor market - and the overall economy - seem likely to ease some. we have already seen some indications from survey data, information from transportation hubs, and producer prices that supply bottlenecks have, at long last, begun to resolve. nonetheless, inflation remains elevated, and this is the problem that concerns me most. inflation creates economic burdens for households and businesses, and everyone feels its effects. it can also change people's expectations about how long lasting price rises will be. those inflation expectations can become entrenched and, in doing so, increase the likelihood that high inflation will persist. while oil and gasoline prices have come down in recent months, i am concerned that fluctuations in prices of the goods to which people pay the most attention, like food and housing, will affect expectations of future inflation. thankfully, longer -