It is my pleasure to meet virtually with you today at the 2021 Institute of International Finance (IIF) Washington Policy Summit.1 I regret that we are not doing this session in person, but I do hope next time we will be gathering together in Washington. I look forward, as always, to a conversation with my good friend and one-time colleague Tim Adams, but first, please allow me to offer a few remarks on the economic outlook, Federal Reserve monetary policy, and our new monetary policy framework. In the second quarter of last year, the COVID-19 pandemic and the mitigation efforts put in place to contain it delivered ... (full story)