Page 11 of 17  with our trading partners, we should be aiming for 3-4%15 - that is not where we are today. As you can see, we are certainly willing to reflect critically on monetary policy. But let me add that we also need to prioritise.
In my experience, the information, expertise, credibility, and powers that the Federal Reserve derives from its supervisory activities are extraordinarily helpful in our efforts to maintain economic and financial stability. Perhaps we could be successful, as central banks in a number of countries are trying to be, without supervisory authority. But I, for one, would not want to take that risk.