Chair of the Federal Reserve System speech on the Fed website, dated December 3
There is nothing on monetary policy in the remarks, but he does say this on the US economy (in brief but link below to the full speech):
- Federal Reserve's mission is to promote a strong economy and sound financial system
- we have made a great deal of progress toward those goals
- Unemployment … lowest in nearly half a century
- Beyond the labor market, there are other signs of economic strength
- Wage gains, increased household wealth, and elevated consumer confidence are supporting robust consumer spending
- there have been gains in the pace of wage growth recently
- productivity has picked up in recent months … not clear whether this is a trend that will be sustained
