The US Economy and Monetary Policy: Where to From Here?
Luncheon Presentation by Richard W. Fisher, President & CEO, Federal Reserve Bank of Dallas
Registration at 12:15 pm
Luncheon at 12:30 pm
Close at 2:00 pm
Richard W. Fisher, President and CEO of the Federal Reserve Bank of Dallas, recently noted: The topic of “forward guidance” is the subject du jour for central bankers around the world, including the U.S.’s Federal Reserve System. A recent issue of The Economist even described “forward guidance” as the “latest monetary fad.” Mr. Fisher will explore his perspective of the U.S. economy and monetary policy following the March Federal Open Market Committee (FOMC) meeting. Furthermore, Mr. Fisher will discuss whether "forward guidance" is a fad to which exaggerated importance is attributed or whether the FOMC has taken up a real, lasting practice.
Mr. Fisher, a voting member of the FOMC, has been a voice of caution before Congress and at the Federal Reserve about how long the Fed's stimulus program should last, how large it should be and whether the largest U.S. financial institutions have again become "too big to fail." His outspokenness has led The New York Times to characterize him as a "longtime truth-teller" while he was described by the Wall Street Journal as a “vocal critic of the Fed’s bond-buying program.” Mr. Fisher's wide-ranging career includes four years as Deputy U.S. Trade Representative with the rank of Ambassador, providing him a keen sense of how Fed policy can affect the international economy. He received the Service to Democracy Award and Dwight D. Eisenhower Medal for Public Service from the American Assembly in 2006 and was inducted into the Dallas Business Hall of Fame in 2009. Mr. Fisher attended the U.S . Naval Academy, graduated in economics from Harvard University, read Latin American politics at Oxford University and received an M.B.A. from Stanford University.