michelle w bowman : brief remarks brief remarks by ms michelle w bowman, member of the board of governors of the federal reserve system, at the fed listens event hosted by the federal reserve bank of dallas, odessa, texas, 20 april 2023. * * * thank you, lorie, it is great to be here, and to hear the broad range of perspectives that are represented here today. in 2019, during a very different time in our history, the federal reserve began a year of listening sessions with the public, tied to changes being considered in our approach to monetary policy, which was : how the federal open market committee uses interest rates and other tools to promote a healthy economy. while data can tell us a lot, hearing the stories behind that data helps to paint a picture that brings it to life for me and for my colleagues. we have heard a lot about how americans are faring in the economy, and about how they are affected by our policy decisions. and so, our effort to create opportunities to enhance our ability to listen has continued, and has become what i expect will be, and certainly should be, a permanent feature of the federal reserve's decision - making. it is a simple fact that what the fed does in washington has a significant impact on how families and businesses spend, borrow and plan for the future. that is exactly why we need to learn about the experiences of people in odessa, midland and other communities in the permian basin. lately, as you know, the fed has been focused on lowering inflation, which is essential if we want to support a growing economy and rising incomes. we want to hear how inflation, along with the higher interest rates needed to bring inflation down, is affecting you and your communities. these conversations provide important context to the economic data that we consider, and they help guide our thinking about how we can best achieve stability and support for the economic wellbeing of all americans. one of the important issues we will talk about today is workforce development, which in every community depends on effective partnerships with the private sector. for many years, this region has been challenged to find qualified workers in certain industries. but now, the challenge of finding willing and qualified workers stretches far beyond just those requiring specific skills training. our strong labor market has made it extremely difficult for growing businesses to find workers, which, if not addressed, could eventually undermine a strong economy. i am very interested to learn about the different strategies and approaches being used in this region

jerome h powell : economic outlook speech by mr jerome h powell, chair of the board of governors of the federal reserve system, to the world affairs council, the federal reserve bank of dallas and the dallas regional chamber, dallas, texas, 14 november 2024. * * * good afternoon. thank you to the world affairs council, the federal reserve bank of dallas, and the dallas regional chamber for the kind invitation to be with you today. i will start with some brief comments on the economy and monetary policy. looking back, the u. s. economy has weathered a global pandemic and its aftermath and is now back to a good place. the economy has made significant progress toward our dual - mandate goals of maximum employment and stable prices. the labor market remains in solid condition. inflation has eased substantially from its peak, and we believe it is on a sustainable path to our 2 percent goal. we are committed to maintaining our economy's strength by returning inflation to our goal while supporting maximum employment. recent economic data economic growth the recent performance of our economy has been remarkably good, by far the best of any major economy in the world. economic output grew by more than 3 percent last year and is expanding at a stout 2. 5 percent rate so far this year. growth in consumer spending has remained strong, supported by increases in disposable income and solid household balance sheets. business investment in equipment and intangibles has accelerated over the past year. in contrast, activity in the housing sector has been weak. improving supply conditions have supported this strong performance of the economy. the labor force has expanded rapidly, and productivity has grown faster over the past five years than its pace in the two decades before the pandemic, increasing the productive capacity of the economy and allowing rapid economic growth without overheating. the labor market the labor market remains in solid condition, having cooled off from the significantly overheated conditions of a couple of years ago, and is now by many metrics back to more normal levels that are consistent with our employment mandate. the number of job openings is now just slightly above the number of unemployed americans seeking work. the rate at which workers quit their jobs is below the pre - pandemic pace, after touching historic highs two years ago. wages are still increasing, but at a more sustainable pace. hiring has slowed from earlier in the year. the most recent jobs report for october reflected significant effects from hurricanes and labor strikes, making it difficult to get a