Recent research suggests another possibility, which is that U.S. monetary policy actions may have significant effects on foreign yields and asset prices as well as on domestic financial prices.
Since I arrived at the Fed, I have derived tremendous benefit from visiting communities all over the country to hear from them how they are experiencing the economy. Today President Mester and I want to hear from you. How is your community experiencing today’s economy? Is everyone who wants a job able to get one? Can they get the necessary training?