stephen s poloz : opening statement before the house of commons standing committee on finance opening statement by mr stephen s poloz, governor of the bank of canada, before the house of commons standing committee on finance, ottawa, ontario, 29 october 2013. * * * thank you for the opportunity for tiff and me to be with you today to discuss the october monetary policy report, which the bank published last week. the bank aims to communicate our objectives openly and effectively and to stand accountable for our actions before canadians. one of the best ways to do this is through appearances such as this one. allow me to spend a few minutes on the report ’ s highlights. i ’ d like to flag some important changes introduced with this issue. • we are modifying the report ’ s format and style in order to explicitly capture the uncertainty that is inherent in our outlook. the goal is to present to canadians a reflection of the evolution of the risks to the inflation outlook that are embedded in our policy, rather than simply compare a snapshot of the current forecast with that of our previous forecast. • the picture is not always perfectly clear and so we have added new measures of ex ante, or before the fact, uncertainty to our five most critical projection variables. we have added “ rule of thumb ” ranges around the base - case projection for the growth of canadian and u. s. gdp and for canadian total cpi inflation, as well as for the current level of the output gap and the growth rate of potential output in canada. • with this, we are reminding ourselves – and those who watch us – that economic projections are subject to considerable uncertainty and are revised over time as new economic data become available. • our policy formulation process is more of a process of risk management rather than one of engineering. in our policy deliberations, we evaluate and assess all of the risks, both positive and negative, and use judgement to determine the balance among them. • as is customary in october, we reviewed the forecast for potential output. due to lower - than - expected labour productivity growth in the past year, as well as the delay in the expected pickup in demand for exports and investment, the forecast for potential output growth has been revised down slightly. • looking forward, we expect the global economy to expand modestly in 2013. however, its near - term dynamic has changed and the composition of growth is now slightly less favourable for canada. • uncertain global and domestic economic conditions are delaying the pickup in exports and business

lisa d cook : exploring careers in economics welcoming remarks by ms lisa d cook, member of the board of governors of the federal reserve system, at the " exploring careers in economics " conference, sponsored by the board of governors of the federal reserve system, washington dc, 4 april 2023. * * * good afternoon, and welcome to " exploring careers in economics. " i am disappointed i cannot be with you in person, but i am thrilled you will hear from boston fed president susan collins. she is an outstanding colleague and economist, a good friend. you are in for a fantastic discussion. this event has a fairly self - explanatory title - exploring careers in economics. but the broad range of opportunities is anything but straightforward. economics touches every aspect of daily life, and you can see its impact in the world outside your door - and inside as well. some of you are veterans of economic study, while some of you are just " econ - curious. " either way, i hope that when you sign off today, you will have a totally different view of what economics can offer you. i was raised by academics in a college town, but even that access and insight did not give me the full picture of what was out there. a career in economics can take you in directions you never thought possible. we live in a constantly changing world, which means there is always new research to undertake, questions to be posed, and ground to break. my own studies allowed me to investigate everything from the impact of patents on the nation's economic growth to the banking system in post - soviet russia. they also took me to the archives of the kremlin and to university in the united kingdom and senegal. and that was just during my education! my career has taken me all over the globe. economics can take you just about anywhere, figuratively and literally. so i do hope that we do a good job of showing you the world of possibilities in the field. because economics needs you. any field that studies the behavior of an entire population, as economics does, should reflect the population it studies. we all come to the table with different experiences and backgrounds, which give each of us unique perspectives. your generation has seen two once - in - a - century economic events within two decades. your economic experiences are different from anyone else's. that insight and understanding will be critical to policymakers. the economics profession needs your perspective. future fed staff, governors, and chairs may