Thank you. It's a pleasure to participate in the 2012 Santa Barbara County Economic Summit. It's especially nice for my Fed colleagues from other parts of the country to experience firsthand the beautiful scenery and wonderful weather that we Californians get to enjoy every day. In my presentation today, I'm going to sketch out the key factors shaping the economic recovery. I'll then comment on the implications of these events for monetary policy. Before I get running, I should note that my remarks represent my own views and not those of others in the Federal Reserve System. Our economy is still feeling the ... (full story)