But we are just at the beginning of this process, and I know that statisticians are all too well aware of the fact that the data perimeter may change again in the future. It is vital that the work done at the European Union level is consistent with the worldwide dimension.
However, I want to assure you that my colleagues and I are resolute that we will bring inflation back down to 2 percent. The full effects of monetary policy take time, but in my brief time on the Federal Open Market Committee, we have acted boldly to address rising inflation, and we are committed to taking the further steps necessary.