Our theme this year, "How to Get Back on Track," follows up on last year’s “How Monetary Policy Got Behind the Curve.” A key goal of the conference is to examine how to get back on track and, thereby, how to reduce the inflation rate without slowing down economic growth. The policy issue is largely international, with special discussions of Asia, Europe, and Latin America. This is a policy-oriented conference consisting of formal presentations, policy panels, and indepth discussions. The conference builds on previous Hoover monetary policy conferences going back fifteen years, from the 2008 conference up to the 2022 conference. Read about our 15-year milestone here. Background papers will be provided in advance of the conference.
This conference is by invitation only.
| FRIDAY, MAY 12 | ||
|---|---|---|
| Time | Content | Participants |
|
7:30–8:15 AM |
Breakfast |
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|
8:15 AM |
Welcome and Opening Remarks |
Condoleezza Rice, Director, Hoover Institution |
| 8:30 AM |
30 Year Anniversary of the Taylor Rule - (video) |
Richard Clarida, Columbia University (slides) John Lipsky, Senior Fellow, Johns Hopkins University and Former First Deputy Managing Director, International Monetary Fund (slides) Volker Wieland, Goethe University, Frankfurt (slides) Chair: John Cochrane, Stanford University |
| 9:45 AM |
Financial Regulation: SVB and Beyond - (video) |
Darrell Duffie, Stanford University (slides) Randal Quarles, The Cynosure Group Amit Seru, Stanford University (slides) Chair: Anat Admati, Stanford University |
| 11:00 AM |
Break |
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| 11:15 AM |
Disinflation and the Stock Market - (video) Read Disinflation and the Stock Market: Third World Lessons for First World Monetary Policy Here |
Peter Henry, Stanford University (a paper with Anusha Chari) (slides) Lead Discussant: Joshua Rauh, Stanford University (slides) Chair: William Nelson, Bank Policy Institute |
| 12:30 - 1:45 PM |
Lunch - Inflation Targeting in Japan, 2013–2023 - (video) |
Haruhiko Kuroda, Former Governor, Bank of Japan Chair: John Taylor, Stanford University |
| 1:45 PM |
Break |
-- |
| 2:00 PM |
Central Bank Balance Sheets - (video) Read The Safety Net: Central Bank Balance Sheets and Financial Crises, 1587-2020 Here |
Niall Ferguson, Stanford University, and Paul Schmelzing, Boston College (a paper with Martin Kornejew and Moritz Schularick) (slides) Lead Discussant: Barry Eichengreen, University of California, Berkeley (slides) Chair: Michael Bordo, Rutgers University |
| 3:15 PM |
Forecasting Inflation and Output - (video) Read The Fed: Bad Forecasts and Misguided Monetary Policy Here |
Mickey Levy, Berenberg Capital Markets, LLC (slides) Lead Discussant: Steven Davis, University of Chicago and Stanford University (slides) Chair: James Wilcox, University of California, Berkeley |
| 4:30 PM |
Break |
-- |
| 4:45 PM | Toward a Monetary Policy Strategy - (video) |
James Bullard, President, Federal Reserve Bank, St Louis (slides) (press release) Philip Jefferson, Governor, Federal Reserve Board (speech) Jeff Lacker, Shadow Open Market Committee, and Charles Plosser, Shadow Open Market Committee (slides) Chair: John Taylor, Stanford University |
| 6:00 - 6:30 PM |
Reception |
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| 6:30 PM | Dinner - Latin American Inflation - (video) |
Sebastian Edwards, University of California, Los Angeles (slides) |
