It is a pleasure to have an opportunity to speak here at the Economic Club of New York. As the current chair of the Club, I’m admittedly biased, but this is a great venue to have the opportunity to share my thoughts about the U.S. economic outlook and the implications for monetary policy. As always, what I have to say reflects my own views and not necessarily those of the Federal Open Market Committee (FOMC) or the Federal Reserve System.1 Before I start, I want to be clear about one specific issue I will not address today—that is, whether or not I expect the monetary policy normalization process to commence at the ... (full story)