*  *  *  I am very pleased to have the opportunity to address the graduates of the Boston College Law School today. I realized with some chagrin that this is the third year in a row that I have given a commencement address here in the First Federal Reserve District, which is headquartered at the Federal Reserve Bank of Boston.
This part of the country certainly has a remarkable number of fine universities. I will have to make it up to the other 11 Districts somehow. Along those lines, last spring I was nearby in Cambridge, speaking at Harvard University's Class Day. The speaker at the main event, the Harvard graduation the next day, was J. K. Rowling, author of the Harry Potter books.