Reassessing Constraints on the Economy and Policy

I was wondering what you make of the conference theme. It's called reassessing constraints on the economy and policy. Having been somewhat burned before by promising 50 and then having to deliver 75, they are loath to corner themselves this point into anything very specific. I don't think there should be any comfort in eight and a half % inflation if they're assuming that that's an ation, that it's going to come down.