For the past year and a half, my colleagues and I on the Federal Open Market Committee (FOMC) have been conducting the first-ever public review of our monetary policy framework.
By “sustainable” I mean a situation where economic growth and job creation are not at risk from rising inflation. It is in this forward-looking context that I would like to talk to you today about the challenges that may face Canadian monetary policy in the Year 2000. First, of course, is the turn of the century itself.