00:00At any institution, a change in leadership is a natural and timely opportunity to reaffirm its mission, to review current
00:10practices, and to consider whether those practices best meet our objectives.
00:16I'm appointing a task force in each of five areas that are central to the broad conduct of monetary policy.
00:23We recognize that inflation has been running well ahead of the Fed's long-stated inflation goal of 2%.
00:30That's been going on for more than five years.
00:34We've dropped forward guidance.
00:36This committee will deliver price stability.
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