But I have noted as well that there may be reason to think that resource constraints could be more binding than 3/5  BIS central bankers' speeches  current inflation measures would traditionally indicate, which would call for a more athletic response.
Moreover, there is today a higher degree of uncertainty about many of these factors-measures of labor slack, the relation between labor slack and inflation, the sensitivity of current inflation measures to actual resource constraints, and the future growth of productivity, to name a few--than there has been for many years.