Cato Institute’s 40th Annual Monetary Conference

The State of Monetary Policy after 40 Years

With massive U.S. debt and deficits, inflation at a 40‐​year high, and popular/​political pressure for expanding the Fed’s mandate, it’s time to assess the Fed’s performance and future. Please join leading scholars and policymakers to discuss “The State of Monetary Policy after 40 Years.”

Schedule:
9:00 – 9:10 AM – Welcoming Remarks
James A. Dorn, Vice President for Monetary Studies, Cato Institute

9:10 – 9:50 AM – A Conversation with Jerome Powell

Jerome Powell, Chair, Federal Reserve Board

Moderated by Peter H. Goettler, President and CEO, Cato Institute

9:50 – 10:00 AM – Break

10:00 – 11:15 AM – Panel 1: What Have We Learned?

Mervyn King, former Governor, Bank of England
Claudio Borio, Head of the Monetary and Economic Department, Bank for International Settlements
Lawrence H. Summers, Charles W. Eliot University Professor, Harvard University; former Secretary of the Treasury
Tyler Goodspeed, Kleinheinz Fellow, Hoover Institution

Moderated by Nick Timiraos, Chief Economics Correspondent, Wall Street Journal

11:15 – 11:30 AM – Break

11:30 AM – 12:45 PM – Panel 2: The Fed’s Operating System and New Monetary Framework: An Appraisal

Patricia Zobel, Manager pro tem, System Open Market Account, Federal Reserve Bank of New York
Kevin Warsh, Shepard Family Distinguished Visiting Fellow in Economics, Hoover Institution; former member, Board of Governors, Federal Reserve System
Vincent Reinhart, Chief Economist and Macro Strategist, Dreyfus‐​Mellon
George Selgin, Senior Fellow and Director Emeritus, Center for Monetary and Financial Alternatives, Cato Institute

Moderated by Neil Irwin, Chief Economic Correspondent, Axios

12:45 – 1:15 PM – Break

1:15 – 2:00 PM – The (Temporary?) Conquest of American Inflations

Thomas J. Sargent, William R. Berkley Professor of Economics and Business, New York University; Nobel Laureate in Economics

Introduction by Norbert Michel, Director, Center for Monetary and Financial Alternatives, Cato Institute

2:00 – 2:15 PM – Break

2:15 – 3:30 PM – Panel 3: The Future of Money in a Fintech World

Eswar Prasad, Tolani Senior Professor of Trade Policy, Cornell University; author of The Future of Money: How the Digital Revolution Is Transforming Currencies and Finance
David Musto, Ronald O. Perelman Professor in Finance, The Wharton School, University of Pennsylvania
Megan Greene, Global Chief Economist, Kroll Institute; Senior Fellow, Watson Institute for International and Public Affairs, Brown University
Lawrence H. White, Professor of Economics, George Mason University

Moderated by Christopher Mims, Technology Columnist, Wall Street Journal

3:30 – 3:40 PM – Closing Remarks

James A. Dorn, Vice President for Monetary Studies, Cato Institute