I should note that my views are my own and not necessarily those of the Federal Reserve Board or my colleagues on the FOMC, which will shortly become apparent. Economic conditions So, let me begin with an overview of the U.S. economy. We are more than five years into a recovery that began in June 2009.
While the pace has been sluggish and uneven, I believe the progress is undeniable. In fact, despite a winter cold spell in the first quarter, I remain mostly positive about the prospects ahead.