I look forward to the conversation and the question-and-answer session to follow. 1 These remarks represent my own views, which do not necessarily represent those of the Federal Reserve  Board or the Federal Open Market Committee. I am grateful to Brian Doyle of the Federal Reserve Board staff for his assistance in preparing this text.
2 The most recent Summary of Economic Projections is an addendum to the minutes of the December 2019  FOMC meeting. See Board of Governors of the Federal Reserve System (2020), “Minutes of the Federal Open Market Committee, December 10–11, 2019,” press release, January 3.