FIRST,
FIRST, INFLATION IS TOO HIGH
AND
FIRST, INFLATION IS TOO HIGH AND MORE PEOPLE ARE GETTING
MORE
AND MORE PEOPLE ARE GETTING MORE WORRIED THAT HIGH
INFLATION
MORE WORRIED THAT HIGH INFLATION IS HERE TO STAY.
MORE WORRIED THAT HIGH PRESSURES IS HERE TO STAY.
MORE WORRIED THAT HIGH PRESSURES EASE.RE TO STAY.
AND,
PRESSURES EASE.RE TO STAY. AND, THIRD, OUR GOAL IS TO
GET
AND, THIRD, OUR GOAL IS TO GET INFLATION BACK TO ITS 2%
TARGET
GET INFLATION BACK TO ITS 2% TARGET WITH A SOFT LANDING
FOR
TARGET WITH A SOFT LANDING FOR THE ECONOMY.
TO
FOR THE ECONOMY. TO ACCOMPLISH THAT, WE'RE
INCREASING
TO ACCOMPLISH THAT, WE'RE INCREASING OUR POLICY RATE
QUICKLY
INCREASING OUR POLICY RATE QUICKLY TO PREVENT HIGH
INFLATION
QUICKLY TO PREVENT HIGH INFLATION FROM BECOMING
ENTRENCHED.
IF
ENTRENCHED. IF IT DOES, IT WILL BE MORE
PAINFUL
IF IT DOES, IT WILL BE MORE PAINFUL FOR