An agreement was made among board members that a range of such an inflation rate would remain approximately between 0 and 2 percent with the median of 1 percent. It was also agreed that the rate would be reviewed annually. You may wonder why the range of inflation was lower than that of many other advanced countries.
Consequently, I will be expressing the broad views of the Federal Reserve Board on the issues associated with modifications of deposit insurance. At the outset, I should note that last year's FDIC report highlighted the significant issues and developed an integrated framework for addressing them.