Levin, Natalucci, and Piger (2004) have shown that some survey measures of inflation expectations in the United States respond to recent changes in the actual rate of inflation, which would not be the case if expectations were perfectly anchored.
We must continue to strive toward an economy with a competitive environment, in which every producer can rely on its relative advantages and offer the best products and services, and in which every consumer has the access and ability to choose the cheapest and most appropriate goods and services.