1 As you would see from reading their remarks, no consensus has yet emerged about how globalization has been influencing recent inflation developments, and part of my intention today is to illustrate some of the considerable challenges that are involved in attempting to identify the extent to which the recent pickup in the pace of global economic integration has influenced inflation dynamics in the United States.
This reflects our responsibility under the EU Treaty to satisfy any demand for euro banknotes, in any situation and for any amount. The second goal is to ensure that euro banknotes and coins continue to be universally accepted by merchants and available to consumers as part of the basket of payment instruments.