Distinguished Speaker Lecture in Economics
News + Events : Distinguished Speaker Lecture in Economics
Department of Economics Betty Blecha Memorial Distinguished Speaker Lecture
Wednesday, April 30, 2014
5:00pm - 6:30pm
Nob Hill Room, Seven Hills Conference Center
Title: Monetary Policy at the Zero Lower Bound and Unconventional Monetary Policies
In response to the global financial crisis and ensuing recession, the Federal Reserve has employed both conventional and unconventional monetary policy tools. After cutting its main policy interest rate to zero at the end of 2008, the Fed has been forced to rely on unconventional policy instruments such as forward guidance and quantitative easing. In this year’s Betty Blecha Memorial Lecture, Professor Walsh will discuss current questions the Fed faces: Have these new policy tools worked? Can monetary policy effectively address the persistently high unemployment the U.S. has experienced since 2008? What is the Fed’s exit strategy as it reduces quantitative easing? Which of the Fed’s new tools are likely to be important once short-term interest rates rise to more normal levels? And is there more the Fed can do to promote economic recovery and stable inflation?