varied conditions that can make our policies more effective in fostering prosperity. now let me turn to these concomitant conditions for prosperity outside of the fed's mandate, which nevertheless should be carefully studied. many of them are straightforward, like housing, transportation, and childcare. even as remote work has increased, many jobs remain in person and on site. if people cannot live near work, either because of the cost or because jobs are located in nonresidential areas, they must commute. commuting depends on public or personal transportation - which in turn relies on infrastructure, such as roads and highways. and time spent commuting affects childcare decisions. caring responsibilities overall - for children or for other relatives - can keep people out of the workforce, and the onus falls disproportionately on women. this was particularly evident during the pandemic, and particularly true for black and hispanic mothers. 3 financial participation is also clearly connected to prosperity. being unbanked means less financial security. less access to credit means a smaller, or even nonexistent, safety net, but it also means less opportunity, be that buying a house to build capital, funding education, or starting a business. but there are other, less obvious - or even less quantifiable - issues. beyond location, a home provides both basic needs, such as shelter, and invaluable benefits, such as a sense of personal safety and dignity. it is a refuge in which our minds and bodies can 2 / 3 bis - central bankers'speeches recuperate and regenerate so we are prepared to participate in all aspects of life, including the next day's work. the costs of living in disadvantaged areas or of dealing with financial hardship can be seen in all areas of life. higher stress, the frequent necessity of working more than one job, the absence of benefits, and the time and money spent commuting - all these exact a financial and psychological toll. there is a fundamental aspect of our humanity, which is to live a more fulfilling existence - to enjoy the richness of life. in an economy that works for all, we should not live to work, but work to live. these are the factors that will allow people to thrive. of course, policies that can address these important issues are not made by fed policymakers. but the research agenda we are discussing today helps us to understand better those aspects of well - being that allow

thank each and every one here present especially, the board and management staff and customers for your important contributions that brought tropical bank to where it is today. last but not least, your excellency, i would like to inform the general public that the east african cross boarder payment system ( eaps ) which is an initiative of the east african central banks went live on monday 25 november 2013 and is now operational in three countries namely ; kenya, tanzania and uganda. rwanda and burundi are expected to join the integrated regional payment system at a later date when ready. eaps is a multi currency system in which payments are effected using any of the currencies of the eac partner states. it will make cross boarder payments easier and facilitate safe and efficient transfer of monetary value within the region. eaps will also be vital in promoting regional trade and enhancing economic integration. with these remarks, allow me once again to extend my heartfelt congratulations to tropical bank limited on their 40th anniversary and wish them many more fruitful years of banking operations in uganda. i thank you. bis central bankers ’ speeches