It is a real pleasure to welcome you to the Federal Reserve Bank of Cleveland. I thank the National Association for Business Economics, its Cleveland Chapter, Team NEO, David Altig, and Bill Koehler for the opportunity to speak with you about the economy. Dave and I go back a long way – perhaps too long for me to admit to. We worked together when we were both research directors, Dave at the Atlanta Fed and me at the Philadelphia Fed. Dave is a first-rate economist, so I know he will keep me on my toes as he moderates this session. Before we get into today’s question and answer portion, I thought it would be helpful ... (full story)