There is no doubt of the government's ability, commitment and desire to have a strong fiscal position and contain inflation, so we should wait and see how that strategy unfolds.

Mexico is trying to restrain the growth of spending and bring the public debt ratio down, and how they have tried to strike that balance has not compromised the objective of bringing the debt ratio down.

You see evidence of poverty reduction in Argentina and extreme poverty has fallen to just 12 percent.

The Fed has and must have a commitment to price stability. The uncertainties on the upside (for inflation) have only gotten bigger since Katrina slammed into the Gulf Coast,

The Fed has and must have a commitment to price stability, ... The uncertainties on the upside (for inflation) have only gotten bigger since Katrina slammed into the Gulf Coast.

The relationship between commitment and doubt is by no means an antagonistic one. Commitment is healthiest when it is not without doubt but in spite of doubt.