“Inflation Expectations and Inflation Forecasting,” speech delivered at the Monetary Economics Workshop of the National Bureau of Economic Research Summer Institute, Cambridge, Mass., July 10, https://www.federalreserve.gov/newsevents/speech/bernanke20070710a.htm. Board of Governors of the Federal Reserve System (2019a). “Minutes of the Federal Open Market Committee, July 30–31, 2019,” press release, August 21, https://www.federalreserve.gov/newsevents/pressreleases/monetary20190821a.htm. ——— (2019b).
Before our single monetary policy started, there may also have been doubts about whether the Eurosystem could fulﬁl its mandate to maintain price stability. Looking back now – on more than 21 years of monetary policy and also “ECB watching” – the Eurosystem has delivered on the promise made to the people of Europe to keep prices stable.