Some influential voices of the time argued that by accepting higher inflation, policy-makers could bring about a permanently lower rate of unemployment.

The public has shown confidence that any increases in inflation will be temporary and that, in the long run, inflation will remain low.

I see inflation as remaining well-contained going forward.

When prices are stable, people can hold money for transactions and other purposes without having to worry that inflation will eat away at the real value of their money balances.

Middle-income living standards, and poverty for that matter, are best addressed through employment growth. By maintaining low inflation and low expectations of inflation, you can create new employment.

I think at this point in time that the inverted yield curve is not signaling a slowdown.