Good afternoon. Thank you for inviting me to the Global Outlook Seminar. Today, I would like to share my outlook for the U.S. economy and my assessment of appropriate monetary policy. Let me note that my comments reflect my own views and do not necessarily represent the views of my colleagues on the Federal Open Market Committee (FOMC) or within the Federal Reserve System. To give you the punch line, I think the outlook for growth in economic activity and the labor market is good. However, inflation is too low, and it has been too low for the last 6 years. Moreover, my forecast is for inflation to rise at a very ... (full story)