“Uncertainty at the Zero Lower Bound (PDF),” Finance and Economics Discussion Series 2013–09. Washington: Board of Governors of the Federal Reserve System, December. Yellen, Janet L. (2015). “The Economic Outlook and Monetary Policy,” speech delivered at the Economic Club of Washington, Washington, December 2. 8  BIS central bankers’ speeches
But consumer prices in the industrial countries have also risen significantly across the board. And we know from our survey of firms that most companies in Germany are planning to raise their prices further over the next few months. Central banks need to ensure that the very strong inflationary pressures do not become entrenched. We must therefore take decisive action.