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SOMC: Rethinking Monetary Policy Amid Uncertainty

Loretta Mester President, Federal Reserve Bank of Cleveland
Fri, Oct 7, 2016 - , , New York, N.Y.

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SOMC: Rethinking Monetary Policy Amid Uncertainty

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SOMC: Rethinking Monetary Policy Amid Uncertainty

Loretta Mester President, Federal Reserve Bank of Cleveland
New York, N.Y. 09:00am—01:45pm
Friday October 7
Friday October 7 2016
PAST EVENT Friday October 7 2016

On October 7th, 2016,  the Shadow Open Market Committee (SOMC) held its Fall 2016 meeting. The keynote address was delivered by Loretta Mester, President of the Federal Reserve Bank of Cleveland (part 3).

The SOMC, under the auspices of the Manhattan Institute, is an independent group of economists that provides external perspectives on policy choices by the Fed and other leading central banks. The SOMC addresses a wide range of macroeconomic issues, including monetary policy, banking and financial regulations, and fiscal-policy matters that bear on monetary-policy decisions. Visit the SOMC website for more details.

AGENDA

9:00 AM Registration and Breakfast
9:30 AM Introduction
Marvin Goodfriend, Carnegie Mellon University
9:35 AM PANEL I: THE ZERO LOWER BOUND, THEORY AND PRACTICE
Marvin Goodfriend, Carnegie Mellon University, Unencumbering Interest Rate Policy at the Zero Bound
Athanasios Orphanides, MIT, The ZLB Challenge with an Unknown Natural Rate of Interest
Moderator: Michael Bordo, Rutgers University
10:45 AM PANEL II: FACTORS INHIBITING THE MONETARY TRANSMISSION MECHANISM
Charles Calomiris, Columbia University, The Microeconomic Perils of Monetary Policy Experiments
Peter Ireland, Boston College, Could the Fed Do More to Please the Public?
Mickey Levy, Berenberg Capital Markets, Why Have the Fed’s Polices Failed to Stimulate the Economy?
Greg Hess, Wabash College, Comments
Moderator: Peter Ireland, Boston College
11:45 AM Reception/Lunch
12:45 PM KEYNOTE ADDRESS
Loretta Mester, President, Federal Reserve Bank of Cleveland
Introduction: Mickey Levy, Berenberg Capital Markets
1:45 PM Adjourn

The SOMC will provide an assessment of global economic and financial interactions and make recommendations for the U.S. Federal Reserve and other leading central banks. The SOMC, under the auspices of the Manhattan Institute, is an independent group of economists that provides external perspectives on policy choices by the Fed and other leading central banks. The SOMC addresses a wide range of macroeconomic issues, including monetary policy, banking and financial regulations, and fiscal-policy matters that bear on monetary-policy decisions. For more, visit Shadowfed.org or call (202) 776-2033.

MEDIA CONTACT

212-599-7000

communications@manhattan-institute.org

TOPICS
EconomicsMonetary Policy
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