“I was thrilled,” Bangko Sentral ng Pilipinas (BSP) Deputy Governor for regional operations and advocacy sector, Bernadette “Berna” Romulo-Puyat, unabashedly shared her feelings about her close encounter with US Federal Reserve (US Fed) Chairman Jerome Powell.

DG Berna was among the fortunate few who had the chance to have their picture taken with none other than the US Fed chair, a day before the start of the Bank for International Settlements (BIS) meeting in Cape Town, South Africa, this past March.

No, Virginia, it was not the first time DG Berna, affectionately known in the domestic banking industry as “Ms. QR code” for being the BSP’s brand ambassador for QR-enabled electronic payment services, has attended the BIS meeting. On some occasions, she goes as the alternate for BSP Governor Eli Remolona.

“I’ve seen him a couple of times,” she narrated, and in those instances, there was never an opportunity to be up close with Chairman Powell, not to mention the fact that “we’ve not been introduced formally.”

It is a common practice for attendees of international forums to arrive a day or two ahead of the scheduled meetings. The BSP delegation, along with the US Fed and other Central Bank officials, did the same. This practice allows them to settle in, acclimate to the surroundings, and do some sightseeing.

Thus, before plunging into work, Governor Eli and his team, as well as other attendees like the US Fed Chair and Christine Madeleine Odette Lagarde, President of the European Central Bank and former managing director of the International Monetary Fund, took advantage of the free time to visit Robben Island.

(If I were there to cover the event, I would definitely sneak out to visit the historic Robben Island, which was used between the 17th and 20th centuries as a prison, a hospital for socially unacceptable groups, and a military base. It was declared a world heritage site as it symbolized the triumph of the human spirit, freedom, and democracy over oppression.)

While strolling the heritage site, the “collegiala” in her suddenly emerged upon seeing the US Fed chairman—who was in casual clothes: knee-length, off-white shorts, a tee, and a periwinkle pullover—agreeing to have his picture taken with a BIS attendee.

As her education dictated and with all due respect, DG Berna sought the approval of Governor Eli, whom the BSP head knew too well, if it was okay to have her picture with Chairman Powell. “Like a father and with his impish smile, he said, 'Go ahead.'”

This time, no formal introduction was needed. “He knew I was with Gov. Eli.”

Though this was close to five months ago, the way DG Berna described her close encounter with Chairman Powell at a dinner hosted by the Governor last Monday was so animated, as if it happened only yesterday.

Understandable! Who wouldn’t be ecstatic meeting and having a picture with a world icon, who, whenever he speaks, the entire economic world moves. It was, in fact, Governor Eli, in a manner that could be likened to a doting father, who egged DG Berna to show us the picture.

And speaking of the US Fed, the BSP Governor is of the opinion that there will be monetary easing this September, citing the unemployment rate, which actually displeased the US President.

That said, a friendly bet among us is on regarding the level of easing the US Fed will move. Considering that they are behind the curve, will they do a 50 basis points cut or just a cautious 25 basis points?

What’s your take?