Good afternoon, everyone! I am delighted to welcome you to the Federal Reserve Bank of Philadelphia’s 13th biennial conference on household finance and consumer payments. This year holds special significance because we are celebrating 25 years of the Consumer Finance Institute’s leadership in consumer credit and payments research. I’m going to brag a little bit about the Consumer Finance Institute and talk about why its work is so important. But, before I do that, I need to remind you all that these are my own views and not necessarily those of any of my Federal Open Market Committee (FOMC) colleagues or anyone else ... (full story)