I believe that we have now reached a stage of development where we can best flourish with government responding to your strategy, your initiatives, and your vision. This is my call to our private sector partners tonight, re-echoing the call at the launch of Vision 2020, that the private sector should take the lead in future national visioning exercises. Extending the miracle 13.
Recent research by Federal Reserve Board staff finds that reductions in U.S. interest rates for any reason – whether caused by monetary policy or other factors – have typically been associated with declines in EME interest rates and appreciation of EME currencies. Moore and others (2013) document a similar historical relationship.