I will conclude with a brief recap of my thesis before joining David Wessel, Seth Carpenter, and Annette Vissing-Jørgensen in what I am sure will be an engaging virtual conversation. The New Framework and Price Stability In my remarks today, I will focus on six key elements of our new framework and the forward guidance provided by our September FOMC statement.
Five of these elements define how the Committee will seek to achieve its price-stability mandate over time, while the sixth pertains to the Committee’s conception of its maximumemployment mandate. Of course, the Committee’s price-stability and maximumemployment mandates are generally complementary, and, indeed, this complementarity is recognized and respected in the forward-guidance language introduced in the September FOMC statement.