The Federal Reserve's chief executive for the western United States will address Sacramento-area business leaders on Thursday, Feb. 29, to discuss growth and economic trends for the Central Valley and state. Robert Parry also will focus his remarks on how well the nation's economy is doing compared to how well it could perform when the maximum rate of output is considered without inflation. Parry's decisions regarding monetary policy can affect the economic direction of the nine western states he oversees. Recently, the Federal Reserve delighted consumers, lenders and business people by reducing two key interest rates a quarter of a percentage point, a move it hopes will energize the sluggish economy. Parry also will address the effect of reductions in the federal funds rate and in the discount rate, both of which are designed to put more money in consumers' pockets and predict whether more rate cuts are on the horizon. His talk will be held 7:30 a.m. at the Vizcaya Pavilion, 2019 21st Street in downtown Sacramento.