One reason for such confidence is our country has the biggest stimulus and lowest interest rates we have had for a very long time,

We have been moving monetary policy toward neutrality for some time, and our policy appears to be close to neutral now.

It appears our nation's pattern of payments is finally evolving - some might say it is experiencing a radical change - from one based on paper checks to one based on electronics.

As we have seen with oil and gas, the supply side impairment itself automatically puts upward pressure on prices. Simultaneously stimulating demand would only exacerbate those price pressures,

Our dual mandate of fostering full employment and a stable price environment remains firmly in place,

I am confident that the passing of the torch from Chairman Greenspan to his successor will be smooth and seamless.