Thank you to the Economic Club of Washington for inviting me to speak to you today. I would like to offer my assessment of the U.S. economy, nearly six and half years after the beginning of the current economic expansion, and my view of the economic outlook. I will describe the progress the economy has made toward the Federal Open Market Committee's (FOMC) goals of maximum employment and stable prices and what the current situation and the outlook imply for how monetary policy is likely to evolve to best foster the attainment of those objectives. The Economic Outlook The U.S. economy has recovered substantially since ... (full story)