Search Results
Speech
Remarks for the Session: “Increasing Diversity in Economics: From Students to Professors”
I thank Stacy Dickert-Conlin for the opportunity to discuss two papers in this session: “Promoting Female Interest in Economics: Limits to Nudges,” by Todd Pugatch and Elizabeth Schroeder (2020), and “Can Positive Feedback Increase Female and Minority Undergraduates into Economics?” by Kelly Bedard, Jacquie Dodd, and Shelly Lundberg (2020). The papers I am discussing today are both systematic investigations of whether particular types of nudges can interest more women and minorities to go into the field of economics.
Speech
Fintech, Bigtech, and Financial Inclusion
Since the beginning of this conference series, the discussions have consistently been very topical, and the agenda for the next two days does not disappoint on that score. The conference will cover many of the hot issues confronting practitioners, academics, and policymakers as financial system innovation proceeds at a rapid pace. Today I will discuss the implications of digitalization for financial inclusion and some steps that need to be taken to ensure that digitalization helps to foster inclusion rather than promote exclusion. The views I will present today are my own and not necessarily ...
Speech
Outlook for the economy and inflation, speech presented to the Money Marketeers of New York University, New York, New York, March 5, 2008
President Pianalto spoke of her perspective on the economy and inflation. She explained how some critical assumptions affect her economic projections and talked about the role that inflation expectations play in the current environment.
Speech
Five Points About Monetary Policy and Financial Stability (06-04-2016) Sveriges Riksbank Conference on Rethinking the Central Bank’s Mandate, Stockholm, Sweden
Since the 2008 global financial crisis and the Great Recession that followed, economists and policymakers have been evaluating the factors that led to the crisis, assessing what could have been done to prevent, or at least limit, the damage, and considering what can and should be done to reduce the probability and impact of future disruptions to financial stability. That this is a very broad topic can easily be seen by looking at the agendas of this and previous years? conferences organized by the Riksbank. Today I will focus my remarks on the nexus between monetary policy and financial ...
Speech
Forward Guidance and Communications in U.S. Monetary Policy
Good evening and thank you very much for the invitation to speak in the Imperial Business Insights Series. I have learned that this successful series is now in its third year and it has brought speakers to the podium to discuss a wide range of topics in the major themes of finance, innovation, and entrepreneurship. Tonight I will speak about forward guidance and monetary policy communications. I think it is clear that this topic is related to finance, but I submit that it is also related to the two other themes of your series: innovation and entrepreneurship. Since the onset of the 2008 ...
Speech
Comments on “The Equilibrium Real Funds Rate: Past, Present, and Future.”
Loretta J Mester-President and CEO-Federal Reserve Bank of Cleveland-2015 U.S. Monetary Policy Forum
Speech
“Hall of Mirrors: Feedback Between Monetary Policy and Asset Prices” 02.21.20; Panel Remarks at the 2020 U.S. Monetary Policy Forum Sponsored by the Initiative on Global Markets at the University of Chicago Booth School of Business
Speaking about how monetary policymakers can gain insights from asset price movements, he pointed out that if policymakers are too concerned about meeting market expectations for fear of creating excess volatility, then this undermines the information content of asset prices. As he put it: “Such a strategy quickly degenerates into a hall of mirrors” in which the policymaker is at once sending signals to the market about future policy and trying to gain insights from the market. However, if the market’s expectations get too far out of alignment with those of the policymaker, the ...
Speech
The challenge of concentrated poverty, presentation to the Community Development Policy Summit, Cleveland, Ohio, June 22, 2006
We are here today and tomorrow to examine concentrated poverty - that is, poverty that affects more than 40 percent of people living in a particular region or city - through the lens of community development. I think we can all agree that community reinvestment initiatives have done a great deal to help low- to moderate-income families over the past generation. But we know that there is still a long way to go.