Good morning, and thank you for the invitation to join you today.1 It is a pleasure to be with you for the Southwestern Graduate School of Banking's 161st Assembly for Bank Directors. Before we get started on the fireside chat, since the Federal Open Market Committee (FOMC) concluded its January meeting earlier this week, I think it would be helpful to summarize my views on the recent policy decision. I will then offer some remarks on the economy and also share my perspective on the outlook for monetary policy. As we enter 2026, the economy has continued to grow, and I see inflation moving closer to our goal. But ... (full story)