Nevertheless, I anticipate that the FOMC will conduct policy over time in such a manner that inflation will gradually move toward the Fed’s 2 percent target. Private sector forecasters seem to share this view as the Philadelphia Fed’s most recent Survey of Professional Forecasters shows that long-term inflation expectations remain stable at 2 percent.
It is therefore important that the government act to advance actions that will help increase financial literacy among the public. 2  BIS central bankers’ speeches