Thank you, Director Knotek, for the kind introduction. It is a pleasure to be with you today and to be back in Cleveland and the beautiful Fourth district. It is always a pleasure to visit the Federal Reserve Bank of Cleveland—and all the Reserve Banks. The hard work and dedication of Reserve Bank staff, leadership, and directors help ensure the economic well-being of communities across the country, including in Ohio, Pennsylvania, West Virginia, and Kentucky. One of the many important roles the Reserve Banks have is to be the connection between policymakers and families, workers, and businesses in every corner of the country. That allows us to be well-informed and to make the best decisions for the benefit of all Americans. I thank everyone here at the Cleveland Fed for their service. JEFFERSON: AI-RELATED STOCK GAINS UNLIKE DOT-COM BOOM LARGELY BECAUSE AI FIRMS HAVE ACTUAL EARNINGS JEFFERSON: TOO SOON TO KNOW HOW AI WILL IMPACT LABOR MARKET, INFLATION, MONETARY POLICY

Fed's Miran: Implications of yesterday's data 'obviously dovish'. Fed's Miran: I would vote for a 25-bps cut if my vote were a marginal vote MIRAN SAYS WE SHOULD BE FORECAST-DEPENDENT, NOT DATA-DEPENDENT MIRAN SAYS LABOR MARKET DATA NOT AS STRONG AS WE WOULD LIKE MIRAN SAYS FINANCIAL CONDITION THAT MATTERS MOST IS HOUSING

US business activity growth accelerated for a second successive month in November, according to early ‘flash’ PMI data, accompanied by the largest rise in new business seen so far ...

The Consumer Sentiment Index in the United States declined 4.9% in November compared to the previous month, to stand at 51, according to the final monthly report released by the ...