To this end, the new statement conveys the Committee’s judgment that, in order to anchor expectations at the 2 percent level consistent with price stability, it “seeks to achieve inflation that averages 2 percent over time,” and—in the same sentence—that therefore “following periods when inflation has been running persistently below 2 percent, appropriate monetary policy will  The statement is available on the Board’s website at https://www.federalreserve.gov/monetarypolicy/review-of-monetary-policy-strategy-tools-andcommunications-statement-on-longer-run-goals-monetary-policy-strategy.htm.
Both government expenditure at a level of 30 per cent and government revenue at 26 per cent of gross domestic product, are regarded as on the high side and there is a desire to reduce these levels over the next few years. This will further ease the burden on monetary policy. 5.