Unlike realized inflation, inflation expectations themselves are not directly observable; they must be inferred from econometric models, market prices, and surveys of households and firms. As I assess the totality of the evidence, I judge that, at present, indicators suggest that longer-term inflation expectations sit at the low end of a range that I consider consistent with our price-stability mandate.
Ben S Bernanke: Introduction of the new $ note Brief remarks by Mr Ben S Bernanke, Chairman of the Board of Governors of the Federal Reserve System, at the New $ Note Unveiling Event, US Treasury Department, Washington DC, 21 April 2010. *  *  *  Thank you, Madame Treasurer. A sound currency is the bedrock of a sound economy.