For that reason, an evaluation of internal controls has always been a fundamental part of bank supervision. It is a key to improving the odds that problems are found early and addressed before the bank insurance fund or taxpayer dollars are at risk.
Over the medium term, the FOMC expects inflation to rise gradually toward 2 percent as the labor market tightens and the transitory effects of declines in energy and import prices wane; indeed, energy prices appear to have stabilized.