Thank you for the warm welcome. It is an honor to speak here at the University of Detroit Mercy. I spent most of my career as an economics professor before joining the Board of Governors, so I feel right at home when I am back on a university campus. This evening, I would like to start by updating you on my economic outlook. And since I have the privilege of being here in Detroit, a city synonymous with hard work, I will particularly focus on my labor market outlook. Next, I will discuss the possible implications of the outlook for the path of monetary policy. And, finally, I offer some thoughts about economic ... (full story)