Tuesday, November 29, 2016

Central Bank Governance Meeting

I'll be part of "Central Bank Governance and Oversight Reform: A Panel Discussion" at the Hoover Institution Washington DC offices, Tuesday Dec 6, 2016 10:00-12:00. The panelists will be  Michael Bordo, John Cochrane, Charles Plosser, John Taylor, and Kevin Warsh.

The occasion will be in honor of the book (cover at left), though knowing this panel I doubt we will keep to the subject and instead enjoy a thorough debate on central bank and monetary policy issues. The format will be very short presentations, followed by lively Q&A and discussion.

If you're interested in attending, follow this link to rsvp.

Discussion now available online, embed below, link here


  1. I think the great danger is that the Fed will be tied to rigid adherence to a world view or economic theory which turns out to be wrong. There are a lot of crackpots out there and some of them are in Congress and some of them have Ph.D.s.

    By 2012 the United States had a Republican dominated Congress that seemed to be determined to sink the economy and a Federal Reserve Bank that pushed the very limits of its authority, and may have over-stepped, to keep the economy afloat.

    The philosophical question is whether an unelected body like the Fed should be trying to frustrate bad decisions by elected bodies. I feel strongly both ways.

  2. Will this event be live streamed or recorded in any way?

  3. When independent, central banks inevitably become too tight. Something about central bank culture. Well risk-takers, entreprenuers and property developers do not become central bankers.

    So whatever monetary rules are in place will be interpreted to become too tight, with independent central banks.

    Transparency and accountability trump monetary theories anyway.

    The Fed Chair should be appointed by the President and serve at his or her pleasure.

    Don Regan, Reagan's Treasury Secy, proposed as much.


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