Jean-Claude Trichet: How to preserve and consolidate the remarkable success of the euro and the performance of the European economy? Speech by Mr Jean-Claude Trichet, President of the European Central Bank, at the Brussels Economic Forum, Brussels, 16 May 2008.
Inflation is running significantly above the Federal Reserve’s longer-run goal of 2 percent primarily as a result of three factors: the surge in demand as more services come back on line while goods spending remains robust, the emergence of bottlenecks in some supply chains, and the very low inflation readings recorded last spring dropping out of the calculation of 12-month inflation.