20 In addition to monitoring survey measures of expected inflation, Federal Reserve staff also use statistical techniques to try to directly estimate possible movements over time in the underlying long-run trend in inflation, using data for actual inflation and other series, including resource utilization. Many of these statistical estimates suggest that the underlying trend in PCE inflation is currently somewhat below 2 percent.
SEPA plays a key role in the completion of the European financial system, by ensuring the provision of innovative, reliable and affordable payment services to market players and users. National and European authorities, the banking and financial sector, trade and consumer associations, and the public sector are all involved in the project.