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SOMC: The Forgetful Fed
October 2, 2015
The SOMC will provide monetary policy recommendations for the Fed’s exit and consider other issues that will be faced as interest rates are normalized. The SOMC, under the auspices of Economics21 at the Manhattan Institute, is an independent group of economists that provides external perspectives on policy choices by the Federal Reserve. The SOMC addresses a range of macroeconomic issues, including monetary policy, banking, and fiscal policy matters that bear on the Fed’s decisions. The SOMC also addresses key macro policy issues confronted by other global central banks.
KEYNOTE SPEAKER:
JAMES BULLARD, President, Federal Reserve Bank of St. Louis
WELCOME AND INTRODUCTION:
Howard Husock, Vice President, Policy Research, Manhattan Institute
PANEL I: HISTORICAL EXPERIENCES IN NORMALIZING MONETARY POLICY
MODERATOR: Michael Bordo, Rutgers University
Charles Calomiris, Columbia University
Marvin Goodfriend, Carnegie Mellon University
PANEL II: THE CURRENT SITUATION; THE NEED TO RAISE RATES
MODERATOR: Peter Ireland, Boston College
Mickey Levy, Berenberg Capital Markets
Bennett McCallum, Carnegie Mellon University
Athanasios Orphanides, Massachusetts Institute of Technology
KEYNOTE ADDRESS
James Bullard, Federal Reserve Bank of St. Louis
Papers - October 2, 2015 – New York, NY
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
Short-Sighted Monetary Policy and Fear of Liftoff by Athanasios Orphanides, MIT
