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39th Annual Monetary Conference: Populism and the Future of the Fed

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Cato’s 39th Annual Monetary Conference—Populism and the Future of the Fed—will bring together leading scholars and policymakers to explore the risks that populism poses to the conduct of monetary policy. As the bright line between monetary and fiscal policy fades, and the threat of fiscal dominance increases, a robust discussion of the Fed’s future is warranted.

9:00 - 9:10 AM

Welcoming Remarks

James A. Dorn, Vice President for Monetary Studies, Cato Institute

9:10 - 10:00 AM

Keynote Address

Welcoming Remarks and Keynote Address: 39th Annual Monetary Conference
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      Raghuram Rajan, Katherine Dusak Miller Distinguished Service Professor of Finance, University of Chicago Booth School of Business

      10:00 - 11:15 AM

      Panel 1: The Populist Challenge to Fed Independence

      Panel 1: The Populist Challenge to Fed Independence
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        Charles Goodhart, Emeritus Professor of Banking and Finance, London School of Economics
        Rosa María Lastra, Sir John Lubbock Chair in Banking Law, Queen Mary University of London
        Carola Binder, Assistant Professor of Economics, Haverford College
        Christina Parajon Skinner, Assistant Professor of Legal Studies and Business Ethics, The Wharton School, University of Pennsylvania

        Moderated by Allison Schrager, Senior Fellow, Manhattan Institute

        11:15 - 11:30 AM

        Break

        11:30 AM - 12:45 PM

        Panel 2: Fiscal Dominance and the Return of Inflation

        Panel 2: Fiscal Dominance and the Return of Inflation
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            John H. Cochrane, Senior Fellow, Hoover Institution, Stanford University
            Fernando M. Martin, Assistant Vice President, Federal Reserve Bank of St. Louis
            Mark Sobel, U.S. Chairman, Official Monetary and Financial Institutions Forum
            David Beckworth, Senior Research Fellow, Mercatus Center, George Mason University

            Moderated by Greg Ip, Chief Economics Correspondent, Wall Street Journal

            12:45 - 1:15 PM

            Break

            1:15 - 2:00 PM

            Luncheon Address: Populism and Central Banks

            Luncheon Address: Populism and Central Banks
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                Barry Eichengreen, George C. Pardee and Helen N. Pardee Professor of Economics and Political Science, University of California, Berkeley

                2:00 - 3:15 PM

                Panel 3: An Expanded Fed Mandate?

                Panel 3: An Expanded Fed Mandate?
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                    Otmar Issing, President, Center for Financial Studies at Goethe University, Frankfurt, and former Chief Economist at the European Central Bank
                    Karen Petrou, Managing Partner, Federal Financial Analytics
                    Scott Sumner, Ralph G. Hawtrey Chair of Monetary Policy, Mercatus Center, George Mason University

                    Moderated by Jeanna Smialek, Federal Reserve and Economics Reporter, New York Times

                    3:15 - 3:30 PM

                    Break

                    3:30 - 4:45 PM

                    Panel 4: Helicopter Money and Fiscal QE

                    Panel 4: Helicopter Money and Fiscal QE
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                        William Nelson, Executive Vice President and Chief Economist, Bank Policy Institute
                        Robert C. Hockett, Edward Cornell Professor of Law, Cornell Law School
                        Frances Coppola, Columnist, CoinDesk
                        Kevin Dowd, Professor of Finance and Economics, Durham University Business School

                        Moderated by Edward Luce, US National Editor, Financial Times

                        4:45 - 5:00 PM

                        Closing Remarks

                        George Selgin, Senior Fellow and Director Emeritus, Center for Monetary and Financial Alternatives, Cato Institute

                        Funding from the George Edward Durell Foundation and the Harold J. Bowen, Jr. and DuVal Bowen Family Foundation is gratefully acknowledged.