Janet Yellen: From adding accommodation to scaling it back Speech by Ms Janet L Yellen, Chair of the Board of Governors of the Federal Reserve System, at the Executives' Club of Chicago, Chicago, Illinois, 3 March 2017. * * * I am pleased to join you today to discuss the U.S. economy and the Federal Reserve’s monetary policy.
The formidable achievements of globalization and technological progress are too often forgotten as the discussion turns to their shortcomings and risks: −  −  −  −  The world economy is today six times larger than 50 years ago, while the total population has increased little more than two-fold, so that average per capita GDP has more than doubled.