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DTSTART;TZID=UTC:20220726T100000
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SUMMARY:Is It Time to Rethink the Federal Reserve?
DESCRIPTION:Event Summary \nOn July 26\, AEI’s Paul H. Kupiec led a panel discussion on the state of the Federal Reserve. As inflation in the country approaches double digits\, trust in the nation’s central bank appears to be wavering. The panel discussed what reforms could be instituted to improve the Fed’s operations. \nClemson University’s Gerald Dwyer proposed three changes he believed would make the Fed’s current position less likely\, including allowing Congress to set a nominal gross domestic product (GDP) target instead of the Fed setting an inflation target. \nThe Cato Institute’s George Selgin focused on how the Fed has damaged its credibility by going against forward guidance it issued at the start of the COVID-19 pandemic. Mr. Selgin also supported the idea of moving from an inflation target to a nominal GDP target\, which he noted would be more resilient to global supply shocks that the Fed has little control over. \nThe Mises Institute’s Alex Pollock focused on the importance of holding the Fed accountable for its shortcomings\, including its soon-to-be-realized operating losses. He echoed Dr. Kupiec’s earlier sentiment that the Fed should not take on additional mandates on climate and racial justice\, especially when it cannot meet the mandates it currently has. \n—Beatrice Lee \nEvent Description \nThe Federal Reserve is having a bad year. As the Fed struggles to control inflation\, it is also being asked to expand its policy remit to include climate change. Moreover\, the House of Representatives just passed a bill requiring the Fed to adopt new policy goals of equal employment and wealth outcomes for targeted interest groups beyond its existing goals of price stability and full employment. How will these efforts to “rethink the Fed” affect monetary policy\, credit availability\, and economic growth? \nJoin AEI as a panel of experts discusses monetary policy\, the Fed’s dual role as central banker and regulator\, its independence\, and recent congressional and executive branch efforts to further expand its legislative mandates. \nAgenda\n10:00 a.m. – Introduction: Paul H. Kupiec\, Senior Fellow\, AEI \n10:15 a.m. – Panel Discussion\nPanelists:\nGerald P. Dwyer\, BB&T Scholar\, Clemson University\nAlex J. Pollock\, Senior Fellow\, Mises Institute\nGeorge Selgin\, Senior Fellow\, Cato Institute \nModerator:\nPaul Kupiec\, Senior Fellow\, AEI \n11:40 a.m. – Q&A \n12:00 p.m. – Adjournment
URL:https://geofinancialtrends.org/event/is-it-time-to-rethink-the-federal-reserve/
LOCATION:AEI\, Auditorium\, 1789 Massachusetts Avenue NW\, Washington\, DC\, 20036
CATEGORIES:AIER Events
ATTACH;FMTTYPE=image/png:https://geofinancialtrends.org/wp-content/uploads/2022/09/Kupiec_Fed.png
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