The rate has been near zero for nearly six years now, and the Fed has augmented its aggressive policy actions through large-scale asset purchases, now tallying in the trillions, rather than in the billions of dollars. Today, I would like to give you my assessment of the U.S. economy and then share some thoughts about the stance of monetary policy.
Willem F Duisenberg: Testimony before the Committee on Economic and Monetary Affairs of the European Parliament Introductory statement by Dr Willem F Duisenberg, President of the European Central Bank, Brussels, 21 May 2002 *  *  *  I take pleasure in appearing before you today to continue our regular exchanges of views and to report to you on the ECB’s assessment of economic and monetary developments and on the decisions taken by the Governing Council.