Issue 2. 2022 3 My guess is that in the short run, political consultants for both parties will convince their party leadership that they can successfully build a narrative around inf lation that will punish their opponents. This will go on for as long as voters tolerate and reward it. But in the long run, after every American is much poorer, voters will have had enough, and one party will realize that the reward of ending inf lation is worth the tough medicine required. How long will that be? It depends on how long the American people tolerate political gamesmanship. I believe bankers can expedite the solution by clearly communicating the real causes of inf lation and what it will take to get it under control. We should organize an aggressive and united campaign to repudiate any opportunists that promote myths and false narratives about inf lation for political gain. Stopping inf lation is central to the core mission of banking – helping every American build wealth and pursue the American Dream. It will not be easy, but if we speak up now and keep the focus where it needs to be, we can dramatically reduce the amount of time it will take to stop the current erosion of American wealth. Americans trust banks far more than Congress, so I’m confident that we could have an impact. Just like PPP, America once again needs bankers to take the lead. n Stopping inflation is central to the core mission of banking – helping every American build wealth and pursue the American Dream. It will not be easy, but if we speak up now and keep the focus where it needs to be, we can dramatically reduce the amount of time it will take to stop the current erosion of American wealth.
RkJQdWJsaXNoZXIy MTU2Mjk4Mw==