However, a number of factors suggest that investment and hiring should pick up in the months ahead. For some time now, the business sector has been meeting a growing final demand without adding capital or employees. Presumably, businesses cannot indefinitely squeeze increasing productivity out of fixed resources and eventually will need to invest and add workers to meet the demand for their output.
They were created because of the existence of certain common needs and interests, and they should be administered for the common welfare – for the good of all." In that spirit, let us use this ceremony to recognize the Federal Reserve's unique structure with roots that are broad and deep in the region.