We will continue to work closely with the Congress and the Administration to explore means of fulfilling our mission of promoting maximum employment and price stability. BIS Review 22/2009  5
The alternative of letting inflation rise would be inconsistent with our mandate and would only cause greater volatility, uncertainty, and inefficiencies that would reduce the growth of our economy over time. Higher interest rates could complicate an already difficult fiscal trajectory, and this possibility further underscores the critical importance of maintaining Federal Reserve independence from short-term political pressures.