: Managing Recent Inflation Developments within the FOMC’s Monetary Policy Framework  Remarks by Randal K. Quarles Member Board of Governors of the Federal Reserve System at “Charting a New Course” 2021 Milken Institute Global Conference Beverly Hills, California  October 20, 2021  Thank you to the Milken Institute for the opportunity to join you today.
Does this mean that we have become like the Federal Reserve? In a certain sense, yes, because we are equipped with a comprehensive toolbox to support the euro area economy at all times, using tools like quantitative easing inspired by the US model, and the capacity to intervene in the markets. But there are also significant differences.