Financial Regulation and Monetary Policy | Getting Global Monetary Policy On Track

Friday, May 3, 2024
Hoover Institution | Stanford University
The Hoover Institution Economic Policy Working Group hosts “Getting Global Monetary Policy on Track," its annual monetary policy conference on Thursday, May 2, 2024 at Stanford University.
Darrell Duffie gave an overview of how treasury markets suffered turmoil, and some of the structural and regulatory causes of that turmoil, along with recommendations to fix that market.
Christina Parajon Skinner focused on the foundations of bank regulation by an independent Fed without the accountability of most regulatory agencies. She noted that Financial Stability” and “Safety and Soundness” are undefined, and thus open to expansive interpretation; policy is closely aligned with global policy set at Basel, which has no democratic input from Congress. She also noted the great power vested in the Vice Chair.
Carolyn Wilkins covered the Bank of England’s actions when over-leveraged pension funds melted down as interest rates rose, and how the bank could sell securities for monetary policy actions while buying them to prop up the funds’ asset values and stem the crisis.
“Getting Global Monetary Policy on Track" was the theme this year following up on last year’s theme “How to Get Back on Track," and the previous year’s theme “How Monetary Policy Got Behind the Curve.” A key goal of the conference is to examine how to get back and stay on track and, thereby, how to reduce the inflation rate without slowing down economic growth. This year the key policy issues are largely international, with special discussions of Europe and Asia. This is a policy-oriented conference consisting of formal presentations, policy panels, and in-depth discussions.
Read The Independence of Central Bank Supervision
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Amit Seru, Stanford University (slides)
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Darrell Duffie, Stanford University (slides)
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Christina Parajon Skinner, University of Pennsylvania (slides)
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Carolyn Wilkins, Bank of England (slides)
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Chair: Stephen Haber, Stanford University
For more information, visit www.hoover.org/events/getting...