However, the financial and economic crisis has highlighted not only the high level of executive pay, but also a mismatch between executive pay and performance. The payment of very high salaries, bonuses and severance payments to executives while companies are underperforming and banks are being bailed out by taxpayers’ money could be seen as evidence of inadequately designed compensation schemes.
I am really looking forward to this conversation, but I would like first to share with you some thoughts about the outlook for the U.S. economy and monetary policy.1 The U.S. economy begins the year 2020 in a good place.