Given the wide differences in views around these issues, I want to take time this evening to share my perspective on U.S. monetary policy choices and their effects on economic and financial outcomes. Recovery is under way The financial crisis is over, and the U.S. economy is recovering.
GDP growth in the United States averaged 3.0 percent from the third quarter of 2009 through the fourth quarter of 2010. And it is worth noting that for the same period, the International Monetary Fund estimates that global GDP growth averaged 4.9 percent.