Pessimism or progress: What did you see in 2023?
Sometimes perceptions play tricks. The data shows a better year than many expected – or acknowledged.
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Sometimes perceptions play tricks. The data shows a better year than many expected – or acknowledged.
<p><span>Thanks to President Kasey Buckles and the program committee for affording me the opportunity to give the C. Woody Thompson Memorial Lecture. It is a pleasure to be back in the Midwest. Before joining the Federal Reserve, I taught economics at Michigan State University, which I chose for its bird's-eye view of the industrial Midwest. Big 10 rivalries aside, Ohio and Michigan share quite a lot, including many of the same economic concerns and interests.</span></p>
<p><span>Inflation has declined in recent months, which is important for American households, businesses, and consumers. Inflation is high, and it will take time and resolve to get it back down to 2 percent. We are determined to stay the course.</span></p>