The threat of persistently higher and For inflation has grown the test that We've articulated i think clearly has Been met now inflation has run well Above two percent for long enough the Word transitory has different meanings To different people it's probably a good Time to retire that that word and try to Explain more clearly what we mean you've Seen our policy adapt And you'll see it continue to adapt you Know we will use our tools to make sure That higher inflation does not become Entrenched the economy is very strong And inflationary pressures are high and And it is therefore appropriate in my View to consider wrapping up the paper Of our asset purchases which we actually Announced at the november meeting Perhaps a few months sooner
