I have little doubt that my successors, and theirs, will continue to sustain the leadership of the American financial system in an ever-widening global economy,
Still-significant productivity growth and a sizable margin of underutilized resources, to date, have checked any sustained acceleration of the general price level and should continue to do so for a time,
The fundamentals are in place for a return to sustained healthy growth,
Thus our baseline outlook for the U.S. economy is one of sustained economic growth and contained inflation pressures. In our view, realizing this outcome will require the Federal Reserve to continue to remove monetary accommodation.