I thank the Economic Club of New York for the opportunity to speak with you today. I am looking forward to the dialog. It is likely no surprise that I will focus my prepared remarks on inflation and how monetary policymakers will persevere in fostering a return to price stability. The views I present will be my own and not necessarily those of the Federal Reserve System or of my colleagues on the Federal Open Market Committee. Unacceptably high and persistent inflation remains the key challenge facing the U.S. economy. Inflation has been running well above 2 percent for almost a year and a half, and the risks to ... (full story)