Thank you, Meredith and Cullum and thank you to the Society for the invitation to speak to you today. This week, the Federal Open Market Committee (FOMC) took another significant step toward achieving our inflation objective by raising the Federal Funds rate target by 75 basis points. In my view, and I speak only for myself, if the data comes in as I expect I will support a similar-sized move at our July meeting. The Fed is "all in" on re-establishing price stability, and part of that effort involves understanding the forces that have boosted inflation and also examining how policymakers responded. Today, I intend to ... (full story)