(抜粋) Let me repeat. “Proactive contribution to peace based on the principle of international cooperation” should lead Japan along its road for the future. Problems we face include terrorism, infectious diseases, natural disasters and climate change. The time has come for the U.S.-Japan alliance to face up to and jointly tackle those challenges that are new. After all our alliance has lasted more than a quarter of the entire history of the United States. It is an alliance that is sturdy, bound in trust and friendship, deep between us. No new concept should ever be necessary for the alliance that connects us, the biggest and the second biggest democratic powers in the free world, in working together. Always, it is an alliance that cherishes our shared values of the rule of law, respect for human rights and freedom. <略> Ladies and gentlemen, the finest asset the U.S. has to give to the world was hope, is hope, will be, and must always be hope. Distinguished representatives of the citizens of the United States, let us call the U.S.-Japan alliance, an alliance of hope. Let the two of us, America and Japan, join our hands together and do our best to make the world a better, a much better, place to live. Alliance of hope…. Together, we can make a difference.
“We have also made important changes with regard to the price-stability side of our mandate. Our longer-run goal continues to be an inflation rate of 2 percent. Our statement emphasizes that our actions to achieve both sides of our dual mandate will be most effective if longer-term inflation expectations remain well anchored at 2 percent. However, if inflation runs below 2 percent following economic downturns but never moves above 2 percent even when the economy is strong, then, over time, inflation will average less than 2 percent. Households and businesses will come to expect this result, meaning that inflation expectations would tend to move below our inflation goal and pull realized inflation down. To prevent this outcome and the adverse dynamics that could ensue, our new statement indicates that we will seek to achieve inflation that averages 2 percent over time. Therefore, following periods when inflation has been running below 2 percent, appropriate monetary policy will likely aim to achieve inflation moderately above 2 percent for some time.
In seeking to achieve inflation that averages 2 percent over time, we are not tying ourselves to a particular mathematical formula that defines the average. Thus, our approach could be viewed as a flexible form of average inflation targeting.26 Our decisions about appropriate monetary policy will continue to reflect a broad array of considerations and will not be dictated by any formula. Of course, if excessive inflationary pressures were to build or inflation expectations were to ratchet above levels consistent with our goal, we would not hesitate to act.”