The Cleveland Fed is one of 12 regional Reserve Banks distributed across the country that, along with the Board of Governors in Washington, D.C., comprise the Federal Reserve System. This regional structure helps us to collect information from around the country so that our monetary policy decisions can take into account the diversity of the American economy and its people. I am very grateful for the many contacts throughout our District who generously share with us their insights into business activity, labor markets, and financial conditions. This timely information is collected through our surveys and in meetings of our advisory councils and boards of directors. We have a business advisory council here in Lexington, and I would like to thank Dr. Ken Troske for serving on the group. The information he and his colleagues provide is very helpful to me as I formulate my economic outlook and monetary policy views, which I’ll speak about today. My remarks will reflect my own views and not necessarily those of the Federal Reserve System or my colleagues on the Federal Open Market Committee, the monetary policymaking body within the Fed.