which were marked by the financial crisis. he has gained significant experience during this time. we are glad that he is now returning to our central office as a staff member in the financial stability department. mr thierfelder will be responsible for setting up new market contacts and intensifying our existing ones. with the creation of this new post we hope to be better positioned to identify key risks to financial stability early on. it also testifies to the importance we attach to exchanging views with market participants. feline von heimburg has also been monitoring the development of the financial crisis when working in the financial stability departments of both the deutsche bundesbank and the european central bank. she will now be able to employ the experience she gained in europe in the more hands - on environment of the representative office. let me now thank felix thierfelder for his work over the past three years and welcome feline von heimburg as his successor. i wish both all the best for the future. thank you very much for your attention. bis central bankers ’ speeches

jerome h powell : opening remarks – “ perspectives on maximum employment and price stability " opening remarks by mr jerome h powell, chair of the board of governors of the federal reserve system, at “ perspectives on maximum employment and price stability ", a fed listens event sponsored by the board of governors of the federal reserve system, washington dc, 4 october 2019. * * * good afternoon. welcome to the room where members of the board of governors and the presidents of the 12 reserve banks meet eight times a year — most recently, two weeks ago — to decide the stance of monetary policy. it ’ s a magnificent, formal — perhaps even imposing — room, with 26 - foot ceilings, a monumental marble fireplace, and a 1, 000 - pound brass and glass chandelier. it ’ s seen a lot of history since franklin roosevelt dedicated this building in 1937. british and american military leaders conferred here during world war ii. and, through the decades, our federal reserve predecessors grappled with financial turmoil and the economy ’ s ups and downs. so when my colleagues and i take our assigned places around this polished mahogany and granite table, the setting and its history lends a certain formality — dare i say, stuffiness — to the proceedings. as we kick off this 12th of 14 fed listens events, governor brainard, governor bowman, and i hope that today ’ s meeting is anything but stuffy. candid and serious, yes. but not stuffy. the reserve banks and the board have been holding fed listens events around the country as part of a comprehensive and public review of our monetary policy strategy, tools, and communications practices. almost all of the fed listens meetings, like this one, have been open to the press and live - streamed on the internet. both the breadth and transparency of the review are unprecedented for us. one reason we are conducting this review is that it is always a good practice for any organization to occasionally take a step back and ask if it could be doing its job more effectively. but we must pose that question not just to ourselves. because congress has granted the federal reserve significant protections from short - term political pressures, we have an obligation to clearly explain what we are doing and why. and we have an obligation to actively engage the people we serve so that they and their elected representatives can hold us accountable. we ’ ve invited you here because we want to better understand how monetary policy affects the lives of the people your organizations represent — union