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