of inflation expectations during the ongoing episode of high inflation. the news is mostly good — longer - run inflation expectations in the united states have remained remarkably stable at levels broadly consistent with the fomc ’ s longer - run goal. inflation uncertainty has increased, but this does not appear to be due to unmoored longer - run expectations. the one surprising wrinkle worth further study is the increasing divergence in views about future inflation, including the high share of those expecting deflation, and what this portends for the future. table and figures references armantier, olivier, fatima boumahdi, gizem kosar, jason somerville, giorgio topa, wilbert van der klaauw, and john c. williams. “ what do consumers think will happen to inflation?, ” federal reserve bank of new york liberty street economics, may 26, 2022. armantier, olivier, leo goldman, gizem kosar, giorgio topa, wilbert van der klaauw, and john c. williams, “ what are consumers ’ inflation expectations telling us today?, ” federal reserve bank of new york liberty street economics, february 14, 2022. by continuing to use our site, you agree to our terms of use and privacy statement. you can learn more about how we use cookies by reviewing our privacy statement. armantier, olivier, gizem kosar, jason somerville, giorgio topa, wilbert van der klaauw, and john c. williams. “ the curious case of the rise in deflation expectations, ” staff report 1037, october 2022. board of governors of the federal reserve system, statement on longer - run goals and monetary policy strategy, january 24, 2012. board of governors of the federal reserve system, 2020 statement on longer - run goals and monetary policy strategy, august 27, 2020. breach, tomas, stefania d ’ amico, and athanasios orphanides, “ the term structure and inflation uncertainty, ” journal of financial economics, volume 138, issue 2, november 2020, 388 - 414. coibion, olivier, francesco d ’ acunto, yuriy gorodnichenko, and michael weber, “ the subjective inflation expectations of households and firms : measurement, determinants, and implications, ” journal of economic perspectives, volume 36, number 3, summer 2022, 157 – 184. evans, george, and seppo hon

shaktikanta das : opportunities and challenges of fintech keynote address by mr shaktikanta das, governor of the reserve bank of india, at fintech conclave 2019, organized by niti aayog, new delhi, 25 march 2019. * * * i am extremely happy to participate in niti aayog ’ s fintech conclave 2019 and share my thoughts on the technological revolution that is shaping the future of finance. i am particularly thankful to shri amitabh kant, ceo of niti aayog for having invited me to such an august gathering. as i understand, this conclave is woven around the theme of indian fintech ecosystem as well as steps required to help achieve the potential that the sector offers towards growth, employment and inclusion. given the wide canvas that fintech encompasses, i have organised my thoughts on some of the core issues in this area. 2. in general, fintech stands for financial technology and describes technologically enabled financial innovations. from ‘ start - ups ’ to ‘ big - techs ’ to established financial institutions, all the key players are harnessing this technological edge along the financial services ’ value chain to provide agile, efficient and differentiated experiences to the end - user. this movement has the potential to fundamentally transform the financial - landscape where consumers will get to choose from a larger set of options at competitive prices and financial institutions could improve efficiency through lower operational costs. as a country that is determined to achieve universal financial inclusion at affordable costs, this is a defining moment for us, and we should seize the opportunity. fintech experience in india 3. india has been at the forefront of this revolution. a recent global survey ranks india second in terms of fintech adoption, with an adoption rate of 52 per cent 1. it is reported that there are as many as 1218 fintech firms operating in india which have created a large number of jobs. they are also generating a healthy appetite for investment. 4. the reserve bank has over the years encouraged greater use of electronic payments so as to achieve a “ less - cash ” society. the objective has been to provide a payment system that combines the attributes of safety, security, enhanced convenience and accessibility, leveraging technological solutions that enable faster processing. affordability, interoperability, and customer awareness and protection have also been other focus areas. banks have been the traditional gateway to payment services. however, with the fast pace of technological changes, this domain is no longer the monopoly of banks