The references for the speech can be found on the Board of Governors of the Federal Reserve System’s website. *  *  *  In assessing the appropriate stance of monetary policy, policymakers must come to some judgment about the likely future course of economic performance and, especially, of inflation.
Current economic and political circumstances suggest that these differences will persist: some Member States will remain unwilling to share more sovereignty, others will want to integrate more, but are not yet able to do so and others still will be both able and willing to move towards a genuine economic and monetary union.