It is a real pleasure to speak with the European Economics and Financial Centre once again. I especially look forward to taking your questions because I learn a lot from hearing what is on your mind. Let me help frame our discussion by giving some brief remarks about the U.S. economy and monetary policy. Of course, these will be my views and not necessarily those of the Federal Reserve System or of my colleagues on the Federal Open Market Committee. The economy and monetary policy have been on quite a journey since I last spoke to you two years ago. Today, I would say that both the economy and monetary policy are in ... (full story)