Thank you for having me today. I appreciate the opportunity to talk with you, and I look forward to our discussion. I will start with a few words about the Federal Reserve and what we do before turning to the outlook for the economy and monetary policy. The Federal Reserve System The Federal Reserve is America’s central bank. It was established by an act of Congress in 1913. The structure of the system, with a seven-member Board of Governors in Washington, D.C., and 12 independent and geographically defined district banks across the country, owes much to the state of Oklahoma. Sen. Robert L. Owen, one of Oklahoma’s ... (full story)