9.Some saw this as a sign that the central bank will raise interest rates before Christmas, though Mr Bailey suggested he is more concerned about taming prices over the medium term.
10.And other Fed officials have been sounding similar alarms, suggesting that interest rates may have to go up higher and stay up longer in order to get prices under control.
11.Meanwhile, the aggressive monetary tightening of the past year is only now filtering through to the economy, complicating assessments of whether the Fed has in fact done enough to rein in prices.
12.Though the lengthy discussion of alternative forms of stimulus may prove relevant again later in the decade, it will seem academic while central banks are desperately raising interest rates to get price growth under control.
13.The central bank is trying to tame inflation by cooling the economy, but without putting it in a deep freeze: Officials do not want unemployment to soar by more than is necessary to wrestle price increases under control.