The great strength of our financial markets is that they efficiently weigh and sort the judgments of literally millions of investors, large and small, as economic conditions evolve, channeling investment dollars, at least ideally, to where they can best be used.
Programs such as this morning’s event doubtless help keep your members informed about where they may seek the highest risk-adjusted returns on their investments. I know that because you have a Federal Reserve policymaker here, you will want to hear how my own views of where our economy stands compare with yours. I’ll get to that.