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Promises to Keep: the Policy Actions Needed to SecureGlobal Recovery

To Strengthen International Cooperation, To Put Broad Interest Above Narrow, To Restore Certainty And Confidence

Good afternoon, I want to thank the Peterson Institute for inviting me here today. I would like to pay special tribute to Fred Bergsten, who will be stepping down as Director of the Institute at the end of the year. We look forward to continuing our close association with Fred's successor, Adam Posen.

Fred has contributed so much over his distin-guished career. Let me mention two qualities that particularly resonate with me. The first is his devotion to putting global considerations into the minds of domestic policymakers-not easy to do. The second one is his deep belief that policy actions make the difference. People do not always agree with Fred-I have not always agreed with Fred! But I have

always appreciated his willingness to hold policy-makers' feet to the fire. And we will continue to rely on him to do that well into the future.

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