Archives - September 13, 1976 – Washington, D.C.

Reforming The Fed And Government-Sponsored Enterprises

Presents…

the SHADOW OPEN MARKET COMMITTEE (SOMC) Meeting:

“Reforming The Fed And Government-Sponsored Enterprises”

May 5, 2017 | New York City

INTRODUCTION:
Diana Furchtgott-Roth, Manhattan Institute

PANEL I: STRATEGIES FOR SOUND MONETARY POLICY
Moderator: Marvin Goodfriend, Carnegie Mellon University
Marvin Goodfriend, The Fed Needs a Credible Commitment to Price Stability
Athanasios Orphanides, Massachusetts Institute of Technology: The Case Against the Case Against Monetary Rules
Peter Ireland, Boston College, &
Mickey Levy, Berenberg Capital Markets: A Strategy for Normalizing Monetary Policy

PANEL II: THE AGENDA FOR REFORMING THE FED AND GOVERNMENT-SPONSORED ENTERPRISES
Moderator: Gregory Hess, Wabash College
Charles Calomiris, Columbia University: Reforming the Rules that Govern the Fed
Deborah Lucas, Massachusetts Institute of Technology: Valuing the GSE’s Government Support

KEYNOTE ADDRESS
Preparing for the Next Storm: Reassessing Frameworks & Strategies in a Low R-Star World
John Williams, President, Federal Reserve Bank of San Francisco

Keynote Address

Preparing for the Next Storm: Reassessing Frameworks & Strategies in a Low R-Star World
by John Williams, President, Federal Reserve Bank of San Francisco

Position Papers

The Fed Needs a Credible Commitment to Price Stability
by Marvin Goodfriend, Carnegie Mellon University

The Case Against the Case Against Monetary Rules
by Athanasios Orphanides, Massachusetts Institute of Technology

A Strategy for Normalizing Monetary Policy
by Peter Ireland, Boston College & Mickey Levy, Berenberg Capital Markets

Are We Asking the Right Questions?
by Gregory Hess, Wabash College

Reforming the Rules that Govern the Fed
by Charles Calomiris, Columbia University

Valuing the GSEs’ Government Support
by Deborah Lucas, Massachusetts Institute of Technology

Presents…

the SHADOW OPEN MARKET COMMITTEE (SOMC) Meeting:

“Rethinking Monetary Policy Amid Uncertainty”

October 7, 2016 | New York City

Introduction:

Marvin Goodfriend, Carnegie Mellon University

Panel 1: The Zero Lower Bound, Theory and Practice

Moderator: Michael Bordo, Rutgers University

Unencumbering Interest Rate Policy at the Zero Bound
Marvin Goodfriend, Carnegie Mellon University

The ZLB Challenge with an Unknown Natural Rate of Interest
Athanasios Orphanides, Massachusetts Institute of Technology

Panel 2: Factors Inhibiting the Monetary Transmission Mechanism

Moderator: Peter Ireland, Boston College

The Microeconomic Perils of Monetary Policy Experiments
Charles Calomiris, Columbia University

Could the Fed Do More to Please the Public?
Peter Ireland, Boston College

Why Have the Fed’s Polices Failed to Stimulate the Economy?
Mickey Levy, Berenberg Capital Markets

Comments: Greg Hess, Wabash College

Keynote Address

Introduction: Mickey Levy, Berenberg Capital Markets

Acknowledging Uncertainty
Loretta Mester, President, Federal Reserve Bank of Cleveland

Keynote Address

Acknowledging Uncertainty
by Loretta Mester, President, Federal Reserve Bank of Cleveland

Position Papers

The Case (In Brief) for Unencumbering Interest Rate Policy at the Zero Bound
by Marvin Goodfriend, Carnegie Mellon University

The Microeconomic Perils of Monetary Policy Experiments
by Charles Calomiris, Columbia University

Could the Fed Do More to Please the Public?
by Peter Ireland, Boston College

Why Have the Fed’s Polices Failed to Stimulate the Economy?
by Mickey D. Levy, Berenberg Capital Markets

Presents…

the SHADOW OPEN MARKET COMMITTEE (SOMC) Meeting:

“Policy Priorities For Turbulent Times”

April 29, 2016 | New York City

Panel 1: Global Interactions—China, Europe, and the World

Rules-Based Policies—Better than International Central Bank Coordination
Michael Bordo, Rutgers University

Communist Rule and China’s Macroeconomic Adjustment Problem
Marvin Goodfriend, Carnegie Mellon University

The Fed-ECB Policy Divergence
Athanasios Orphanides, Massachusetts Institute of Technology

Panel 2: The Fed and the Markets

Moderator: Gregory Hess, Wabash College

Why Has Nominal Income Growth Been So Slow?
Peter Ireland, Boston College

Rethinking Fed Policy amid Constraints on Aggregate Supply
Mickey Levy, Berenberg Capital Markets

Reflections on Keynes and Hamilton
Bennett McCallum, Carnegie Mellon University

Keynote Address

Introduction: Mickey Levy, Berenberg Capital Markets

What’s the matter with the Fed?
Peter Fisher, Senior Fellow, Tuck School of Business, Dartmouth College and former Under Secretary, U.S. Treasury

Keynote Address

What’s the matter with the Fed?
by Peter R. Fisher, Tuck School of Business at Dartmouth

Position Papers

Rules Based Policies: Better Than International Central Bank Coordination and Cooperation
by Michael D. Bordo, Rutgers University and Hoover Institution, Stanford University

Communist Party Rule and China’s Macroeconomics Adjustment Problem
by Marvin Goodfriend, Carnegie Mellon University

There is a joke in academia and it goes like this
by Gregory D. Hess, Wabash College

Why Has Nominal Income Growth Been So Slow?
by Peter N. Ireland, Boston College

Rethinking Fed Policy amid Constraints on Aggregate Supply
by Mickey D. Levy, Berenberg Capital Markets, LLC for the Americas and Asia

Reflections on Keynes and Hamilton
by Bennett T. McCallum, Tepper School of Business

The Fed-ECB Policy Divergence
by Athanasios Orphanides, MIT

Presents…

the SHADOW OPEN MARKET COMMITTEE (SOMC) Meeting:

“THE FORGETFUL FED”

Three Challenges to Central Bank Orthodoxy
By James Bullard, President and CEO, Federal Reserve Bank of St. Louis

Position Papers

Monetary Policy: Transparency and Clarity Require a Strategy
by Mickey D. Levy, Blenheim Capital Management

Monetary Policy Lessons from the 1990s for Today
by Marvin Goodfriend, Carnegie Mellon University