Nevertheless, the overriding focus is on maintaining global competitiveness of the domestic industry and support economic growth through maintenance of a stable real effective exchange rate (the composite Pula exchange rate adjusted for inflation differentials).
12 See Lael Brainard (2019), “Is the Middle Class within Reach for Middle-Income Families?” speech delivered at “Renewing the Promise of the Middle Class,” 2019 Federal Reserve System Community Development Research Conference, Washington, May 10, https://www.federalreserve.gov/newsevents/speech/brainard20190510a.htm. 9  -6targeting (FAIT) is a consequential change in strategy.