Nevertheless, there are several issues I would like to elaborate further pertaining to (i) the role and importance of the core scientific principles that should guide monetary policy; (ii) the current state and limitations of the scientific aspects of monetary policy-making; and (iii) the orientation of our future efforts towards enhancing the science and effectiveness of monetary policy. II.
In conducting these rulemakings, the Board reviews public comment letters and solicits the views of other federal and state regulators who have valuable insights based on their own experience and expertise in supervising financial institutions and protecting consumers.