Good afternoon. Welcome to the room where members of the Board of Governors and the presidents of the 12 Reserve Banks meet eight times a year—most recently, two weeks ago—to decide the stance of monetary policy. It's a magnificent, formal—perhaps even imposing—room, with 26-foot ceilings, a monumental marble fireplace, and a 1,000-pound brass and glass chandelier. It's seen a lot of history since Franklin Roosevelt dedicated this building in 1937. British and American military leaders conferred here during World War II. And, through the decades, our Federal Reserve predecessors grappled with financial turmoil and ... (full story)

Federal Reserve Chairman Jerome Powell described the U.S. economy on Friday as being solid, noting the central bank must do what it can to keep it there. “While not everyone fully shares economic opportunities and the economy faces some risks, overall it is— as I like to say— in a good place,” Powell said in prepared remarks delivered at a “Fed Listens” event in Washington. The event is part of a monetary policy communication review by the Fed. “Our job is to keep it there as long as possible.” Powell’s comments came after a raft of disappointing data releases this week. On Tuesday, the Institute for Supply ... (full story)