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 Federal Reserve 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.
|9:00 AM||Registration and Breakfast|
|9:30 AM||Welcome and Introduction|
Marvin Goodfriend, Carnegie Mellon University
|9:35 AM||GLOBAL INTERACTIONS—CHINA, EUROPE, AND THE WORLD|
Moderator: Michael Bordo, Rutgers University: Rules-Based Policies—Better than International Central Bank Coordination
Marvin Goodfriend, Carnegie Mellon University: Communist Rule and China’s Macroeconomic Adjustment Problem
Athanasios Orphanides, Massachusetts Institute of Technology: The Fed-ECB Policy Divergence
|10:45 AM||THE FED AND THE MARKETS|
Moderator: Gregory Hess, Wabash College
Peter Ireland, Boston College: Why Has Nominal Income Growth Been So Slow?
Mickey Levy, Berenberg Capital Markets: The Fed’s Unhealthy Relationship with Markets
Bennett McCallum, Carnegie Mellon University: Comments
|12:45 PM||KEYNOTE ADDRESS|
Introduction: Mickey Levy, Berenberg Capital Markets
Peter Fisher, Senior Fellow, Tuck School of Business, Dartmouth College and former Under Secretary, U.S. Treasury