But this trade-off is weakened when the central bank can credibly commit to its price stability objective. Knowing that the steady state remains the ultimate goal of policy, private agents will not factor in the temporary increase in inflation into their price- and wage-setting behaviour.
We hold vendor fairs in Washington to publicize opportunities. For example, on September 2, representatives of approximately 60 companies talked to Board staff about contracting possibilities. We are a member of the National Minority Supplier Development Council, and we regularly attend national and local vendor fairs and conferences (including several this year) to share information on how to do business with the Board.