Because curbing benefits once bestowed has proved so difficult in the past, fiscal policymakers must be especially vigilant to create new benefits only when their sustainability under the most adverse projections is virtually ensured. *  *  *  Responding to the pending dramatic rise in dependency ratios will be exceptionally challenging for the policymakers in developed countries.
I meet with groups with a wide range of backgrounds and perspectives on our economy to listen and learn, as well as to explain what the Federal Reserve is doing to try to improve our economic situation.