Thank you. It's a pleasure to be at the University of San Francisco. It's fitting that my talk here is sponsored by the Center for the Pacific Rim. The San Francisco Federal Reserve Bank is the westernmost of the 12 Reserve Banks in the Federal Reserve System. All five U.S. states on the Pacific Ocean are in our District. And our Economic Research Department, through our Center for Pacific Basin Studies, takes a special interest in the economies and financial systems of Asia. Every year, I travel to Asia as a representative of the Federal Reserve to meet government officials and economic experts, and learn in depth ... (full story)