I am happy to be here in Kansas City for the 13th of 14 Fed Listens events. I look forward to hearing the perspectives of the community and business leaders participating today. The Reserve Banks and the Board have been holding Fed Listens events around the country as part of a comprehensive and public review of our monetary policy strategy, tools, and communications practices.
One major risk we face is the growing tendency towards protectionism and populism. Brexit and the potential shift in US economic policies are manifestations of this trend. If these inwardoriented sentiments continue to gain traction, this will undermine cooperation and potentially shrink global trade. This could, in turn, derail the global economy’s already protracted path to recovery.