The Q&A session begins
- Expects to continue T-bill purchases in repo ops into the 2nd quarter
- Expects to reach appropriate levels of reserves around midyear
- US economy is in a very good place
- There will be effects on China in 1st half from the coronavirus
- Likely to be some effects on US but too early to determined extent
- Climate change plays into work on financial resilience
- Research suggest minimum wage increases have had a role in lifting wage growth at the bottom
- Employment can be lower without sparking inflation
- Best role for the Fed is to take seriously the mandate on maximum employment
