This Economic Letter is adapted from President Janet Yellen's April 3 speech discussing financial developments and their implications for the economic outlook, as well as for the Federal Reserve.

Speech to the Joint Rotary Clubs of Reno and the East Bay (SF Bay Area), Reno, Nevada, January 22, 2007. ; President Janet L. Yellen presented similar remarks to the Arizona Council on Economic Education, Scottsdale, Arizona, January 17, 2007

Speech to the Arizona Council on Economic Education, Scottsdale, Arizona, January 17, 2007

Speech to the Hong Kong Association of Northern California, San Francisco, CA, October 16, 2006 ; President Janet L. Yellen presented similar remarks to the California Independent Bankers 16th Annual Convention in Laguna Beach, California on October 9, 2006.

Speech to the Emeryville Chamber of Commerce, Emeryville, CA, September 12, 2006 ; President Janet L. Yellen presented similar remarks at a community leaders' luncheon in Boise, Idaho, on September 7, 2006.

Presentation to Securities Analysts of San Francisco and Global Association of Risk Professionals, San Francisco, CA, October 21, 2004

Speech to the Silicon Valley Chapter of Financial Executives International, Palo Alto, California, October 14, 2008.

Presentation to a community leaders' luncheon, Seattle, Washington, September 9, 2004

Presentation to the Stanford Institute of Economic Policy Research, Stanford University, Palo Alto, CA, February 11, 2005

Presentation to the Financial Women’s Association of San Francisco, January 20, 2005