Monetary policy doesn’t work as quickly or painlessly as everyone would like, but it works. And it will be worth it when Canadians can once again count on low, stable and predictable inflation. As always, we will be clear and transparent. I want Canadians to understand what we’re doing to fight inflation, how it works and why it matters.
Narayana Kocherlakota: Monetary Policy Report to the People of Rochester, Minnesota Speech by Mr Narayana Kocherlakota, President of the Federal Reserve Bank of Minneapolis, at the Rochester Chamber of Commerce, Rochester, Minnesota, 8 April 2014. *  *  *  Thanks to David Fettig, Terry Fitzgerald and Sam Schulhofer-Wohl for their assistance with these remarks and the supporting materials.