Events like the one today are a key part of fostering that two-way communication. With that as context, let me turn now to the business at hand: the current state of the economy. Throughout my remarks, I’ll be referring to the Federal Open Market Committee, or  BIS central bankers’ speeches  1  FOMC.
It meets eight times per year to set the course of monetary policy in the United States. The presidents of the 12 Reserve Banks and the governors of the Federal Reserve System all participate fully in the deliberations at those meetings.