So, let me offer my own views about the steps we could take. BIS central bankers’ speeches  3  First, let’s clarify and make explicit our inflation objective. The effectiveness of monetary policy in achieving its dual mandate is enhanced if the public understands and finds credible the Fed’s inflation objective.
2. A second challenge is to attain a relevant degree of coverage in the information captured. This means one must be able to map diverse microdata sets into aggregate statistics. The challenge here comes from the fact that microdata sets are collected for different purposes, making it hard to ensure integrity and compatibility.