As always, my views are my responsibility alone and are not to be ascribed to my colleagues in the Federal Reserve System.1  The prospects for economic growth Broadly, the economy has shown substantially increased vitality since the middle of last year, and with the passage of time the economic recovery has shown increasing signs of becoming self-sustaining.
2/4  BIS central bankers' speeches  First, we have seen that a well-defined mandate is vital for our credibility with the public, because it guarantees that the ECB will always act in the interest of the whole euro area, and will not be swayed by interest groups.