Thank you. I'm delighted to address the National Association for Business Economics (NABE), a group that has done so much to promote understanding of the economy and the appropriate role of policy. My topic today is the challenges confronting monetary policy in what has been an unusually weak recovery from a severe recession. I will discuss the Federal Reserve's ongoing efforts in these circumstances to speed the U.S. economy's return to maximum employment in a context of price stability.1 As you know, the Federal Open Market Committee (FOMC) has recently taken new steps to achieve this objective. In September, the ... (full story)