Therefore, the CPI for all items less fresh food -for which the year-on-year rate of change is currently minus 0.5 percent -- is expected to reduce its rate of decline rapidly and turn positive.
Financial markets, in particular, likely would see a grant of review authority in these areas to the GAO as a serious weakening of monetary policy independence. Because GAO reviews may be initiated at the request of members of Congress, reviews or the threat of reviews in these areas could be seen as efforts to try to influence monetary policy decisions.