We took that worry seriously - as is shown by the Maastricht Treaty and as the ESCB's monetary policy makes clear. Naturally the intellectual basis of such a policy has to be continually examined anew. Time and again new challenges arise and new developments have to be taken into consideration. I wish to cite just a few examples.
At any given point, the FOMC must make judgments about an appropriate policy and its communication based on what it knows at the time and thinks, given that information, it can anticipate for the future.