Good morning and welcome to the Federal Reserve Bank of New York's Economic Press Briefing. I am pleased to have this opportunity to speak with you today about the economic outlook, with a focus on the household sector. As always, what I have to say reflects my own views and not necessarily those of the Federal Open Market Committee (FOMC) or the Federal Reserve System.1 According to the National Bureau of Economic Research, the current expansion began in July 2009, making it nearly seven years old. If we gathered this expansion and the 11 prior post-WWII expansions together for a family photograph, arranging them by ... (full story)