Specifically, the new language explains that, as the economy expands further, the Committee will continue to assess both the realized and expected progress toward its objectives of maximum employment and 2 percent inflation.
Yet, closer cooperation in terms of analytical work, communication, policy evaluation, and – not least – data strategies can improve coordination between policy areas. This would, ultimately, contribute to enhanced resilience at the level of the individual and of the financial system. This has implications for academia and central banks.