Even though I brought with me twenty-seven years of banking experience, including an earlier stint with the Federal Reserve, I find that my current responsibilities make me consider issues in new ways. Consequently, I look forward to meeting with groups like yours so that I have a better understanding of emerging issues from diverse perspectives.
From an economic point of view, the level of the statutory minimum wage is critical: there is, once again, a trade-off between protecting the most vulnerable and avoiding negative employment effects. And, once again, the degree of market competition does appear to matter.