i'm delighted to address the national economists club and also honored to be associated with herb stein. his public service and scholarship characterized by careful analysis, clear and pragmatism, sharp whip, exemplified the best in our profession. herb was willing to consider new ideas and approaches to government policy. that openness fits with the subject of my remarks today. namely, i will discuss the unconventional monetary policy tools used by the federal reserve since the start of financial crisis pain great recession. and the roles these tools may play in addressing future economic challenges. nearly ten years ago with our nation mirrored in its worst economic and financial crisis since the great depression the federal open market committee confronted a key challenge to the pursuit of its congressionally mandated goals of maximum employment price stability. how does support weakening u.s. economy was the main convention and policy tool, the federal funds rate have been lowered to essentially zero. addressing the problem eventually led to a second challenge. how to ensure we coul

address the national economist club and i'm also honored on this occasion to be associated with herb stein. his public service and scholarship characterized by careful analysis, clear eyed pragmatism and sharp wit exemplified the best in our profession. herb was willing to consider new ideas and new approaches to government policy. and that openness fits with the subject of my remarks today. namely, i will discuss the unconventional monetary policy tools used by the federal reserve since the start of the financial crisis and great recession. in the role that those tools may play in future economic challenges. nearly 10 years ago with our nation mired in its worst economic and financial crisis since the great depression, the federal open market committee confronted a key challenge to the pursuit of its congressionally mandated goals of maximum employment and price stability. how to support weakening us economy was the main conventional policy tool the federal rund rate had been lowered to essentially zero. addressing that problem eventually led to a second challenge. how to ensure that we c

delighted to address the , and il economist club am also honored on this occasion to be associated with herb stein, whose public service and scholarship, characterized by careful analysis, clear i'd pragmatism and sharp wit exemplified the best in our profession -- clear eyed pragmatism and sharp wit example five the best in our profession. he was willing to -- exemplified the best in our profession. discuss the unconventional monetary policy tools used by the federal reserve since the start of the financial crisis and great recession, and the role does tools may play in addressing future economic challenges -- those tools may play in addressing future economic challenges. years ago, with our nation mired in the worst economic and financial crisis since the great depression, the federal open market committee confronted the key challenge to the pursuit of its congressionally mandated goals of maximum employment and price stability. how to support a weakening u.s. main policy our tool, the federal funds rate, had been lowered essentially 20. addressing that problem eventually lead to a second challe

am delighted to address the national economists club and i am also honored to be associated .ith herb stein whose public service and scholarship, characterized by clear and analysis, clear eyed pregnant system and sharp wit, exemplify the best in our profession. consider newg to ideas and new approaches to government policy. and that openness fits with the subject of my remarks today. discuss thell unconventional monetary policy tools used by the federal reserve since the start of the financial crisis and great recession and the roles that those tools may play in addressing future economic challenges. ago, with ours nation mired in its worst economic and financial crisis since the great depression, the federal open market committee tofronted a key challenge the pursuit of its congressionally mandated goals .f maximum employment how to support a weakening u.s. economy was our main conventional policy told, the federal funds rate had been lowered to essentially zero. addressing that problem eventually led to a second challenge. we couldsure that scale back monetary policy and competition in a

am delighted to address the national economists club also on this occasion to be associated with herb stein who'd scholarship characterized by careful analysis and pragmatism and sharp wit to exemplified the best in the profession to consider new ideas to government policy in in that openness that fits the remarks today. meanly i will discuss the monetary policy tools used by the federal reserve since the start of the financial represses and the rules they make way to address future economic challenges. ten years ago we were mired in the worst economic crisis since the great depression the fomc he committed a key challenge to the pursuit of the mandated goals for maximum employment and price stability to weaken the u.s. economy was the main policy tool for the federal funds rate to be or to substantially zero. addressing that led to a second challenge if we could scaled-back accommodation in the orderly fashion when no longer needed failure to meet either challenge to compromise the ability to foster a maximum employment leading to serious consequences were millions of americans to submit t