I am working closely with my counterparts at the FDIC and the Office of the Comptroller of the Currency on the U.S. version of the Basel III endgame reforms.
As for price inflation, over the twelve months ending in April, the consumer price index excluding food and energy was up 2.3 percent, the same increase as in the preceding twelve months. Inflation as measured by the price index for personal consumption expenditures excluding food and energy rose 2.1 percent over the twelve months ending in March (the latest available data).