Nageswaran calls for building strategic leverage for geopolitically contested resources. Nageswaran said in the next 30 years, monetary policy will be much more difficult to execute in a world of supply shortages causing real economic disruptions, both to output and to inflation. Nageswaran said that while the 1991 balance of crisis brought four decades of accumulated constriants to a head- a moment of reckoning more than a passing shock- the external stress.