I expect the Fed to be just as tough in resisting unwanted upward movements in inflation as it currently is in resisting undesired declines. BIS Review 39/2003  5  References Bernanke, Ben (2003a). “Will Business Investment Bounce Back?” Speech delivered at the Forecasters' Club, New York, New York, April 24, www.federalreserve.gov. Bernanke, Ben (2003b).
BIS Review 53/2002  1  In the following I want to contribute to this discussion and argue why a shift of perspective from an institution-based regulatory policy to a system perspective is indeed necessary and important and why we should actively discuss these issues.