J. Alfred Broaddus

This has been a very useful conference in my view, and I am honored by this opportunity to be a part of it.1 As some of you may know, I was the second choice for this slot, but that doesn't bother me at all because the first choice was Don Brash, the Governor of the Reserve Bank of New Zealand and a pathbreaker in bringing both transparency and accountability to central banking in practice.

It is a pleasure to be with you this evening. Most of the speeches I make deal with national economic outlook and Fed monetary policy, and it is refreshing to have an opportunity to talk about something else.

Thank you very much. Ms. Roberson, members of the faculty, parents and friends, and — most importantly — members of the Thomas Jefferson High School Class of 2001, it is truly a pleasure and an honor to be with you this afternoon.