They understood that unemployment would rise if the country’s monetary policy were set by a central bank that focused single-mindedly on inflation (and also that there would be insufficient attention to financial stability).
Chápali, že kdyby jejich měnovou politiku určovala centrální banka, která se jednostranně zaměřuje na inflaci, zvýšila by se nezaměstnanost (a zároveň by se nedostatečná pozornost věnovala finanční stabilitě).