*  *  *  Ladies and Gentlemen, It is a great honour and a pleasure to be invited to say a few words at your “Breakfast Policy Briefing”. I like an early start and greatly appreciate the opportunity to talk to such a distinguished and influential audience.
Many of those systems rely on components from Asia, and any disruption in the flow of these goods has the potential to affect production in the United States. So far, however, U.S. manufacturing output has not been noticeably affected. In recent months, inflation has dropped to very low levels.