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If a society is not, on balance, committed to price stability, the central bank will struggle to achieve it, no matter how strong its balance sheet.
Mr. Bernanke said the Fed remained "unwaveringly committed to price stability" and to the Fed's long-term, implicit inflation target of "2 percent or a bit less".
"I think I am as committed to price stability and the attainment of price stability as any member of the F.O.M.C.," a reference to the Federal Open Market Committee, Ms. Yellen said at a 2010 luncheon in Los Angeles.
Look, I know the theoretical literature here; I realize that it's coming from Barro-Gordon and all that, which suggests that price- and wage-setters will be more willing to exercise restraint if they believe that the central bank is independent and firmly committed to price stability.
"We clearly want people to understand that we are committed to price stability over the long run".
They have spent two decades convincing the public that they are committed to price stability and, rightly or wrongly, have equated this with inflation of around 2%.
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The company remains committed to "minimising price volatility".
The Fed also said it remained committed to seeing prices rise before it would completely withdraw its stimulus.
The following year, Gilead and WHO agreed on a tiered price of $20/vial for VL and mucosal leishmaniasis in developing countries; in August 2009, Gilead reduced the price further to $18/vial and committed to update the price annually depending on its production cost, with a price ceiling of $20 (personal communication, G. Alton, 2009).
We remain committed to these terms".
We remain committed to paying fair milk prices, a commitment fully demonstrated by today's decision".
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