Chairman Hill, Ranking Member Waters, and other members of the Committee—good morning. It's a privilege to join you. At my first appearance before this panel, I am particularly honored to represent my superb colleagues throughout the Federal Reserve System. In submitting the Board's Monetary Policy Report, I think of a long line of central bank chiefs who came before Congress in keeping with the Federal Reserve Act. I think also of earlier efforts, going back to the time of the Framers, to create a central bank that would endure and serve the nation's founding principles. One of the large figures in the Federal ... (full story)