Skip to main content

The Future of Monetary Policy: Embracing the Unconventional?

PAST EVENT VIDEO
Panel
Bethany McLean of Vanity Fair joined economics experts Donald Kohn and Randall Kroszner to discuss what recent changes at the Federal Reserve mean for US monetary policy.
Speakers
Donald Kohn
Randall Kroszner
Michael H. Moskow
Bethany McLean
Event Date

About this event 

In February, the Janet Yellen era at the Federal Reserve will conclude and the Jerome Powell era will begin. What will the change mean for US monetary policy? Advanced economies are reveling in increasing growth and bright economic outlooks, yet central banks are only very slowly normalizing monetary policy to pre-crisis levels. With inflation still well below target, interest rates are expected to remain low (and negative in some countries), and engorged balance sheets are only very slowly being whittled down. Does the low-inflation economy demand that these unconventional approaches to monetary policy become standard tools of central banks’ arsenal? Or can central bankers throw off the shackles of the Phillips Curve mentality and insist on normalization? 

About the Speakers
Donald Kohn
Senior Fellow, The Brookings Institution
Donald Kohn holds the Robert V. Roosa Chair in International Economics and is a senior fellow in the Economic Studies program at the Brookings Institution.
Randall Kroszner
Professor, University of Chicago Booth School of Business
Randall Kroszner is the Norman R. Bobins Professor of Economics at the University of Chicago Booth School of Business. He served as a governor of the Federal Reserve System from 2006 to 2009, taking a leading role in developing responses to the financial crisis.
Vice Chair and Distinguished Fellow, Global Economy
Council expert Michael H. Moskow
Michael H. Moskow is the vice chair and distinguished fellow, global economy at the Chicago Council on Global Affairs. From 1994-2007, he served as president and chief executive officer of the Federal Reserve Bank of Chicago. In that capacity, he was a member of the Federal Open Market Committee, the Federal Reserve System's most important monetary policymaking body.
Council expert Michael H. Moskow
Bethany McLean
Contributing Editor, Vanity Fair
Bethany McLean is a contributing editor at Vanity Fair and a contributor at CNBC. She was previously an editor-at-large at Fortune.