Sentences with phrase «judgment about the inflation»

Not exact matches

«I can at most venture a personal judgment, based on some examination of the historical evidence, that the initial effects [on employment] of a higher and unanticipated rate of inflation last for something like two to five years; that this initial effect then begins to be reversed; and that a full adjustment to the new rate of inflation takes about as long for employment as for interest rates, say, a couple of decades.»

From what I have said about the Bank's approach, it should be clear that any differences between our judgments and the markets» judgments can occur not only because our inflation forecasts might differ, but also because our basic objectives are much broader than the markets», and our horizons are much longer.