US monetary policy has been operating in uncharted waters ever since the financial crisis of 2007-09 reached fever pitch in the fall of 2008. In this three-part series, Visiting Professor of Economics Ed McKelvey explores how the Federal Reserve (the “Fed”) got to where it is now and the issues that are apt to confront Fed officials whenever they decide to wade back to shore.
These lectures will take place on alternate Tuesdays from 12:15 to 1:15 in King 306. The first session, on September 10, will provide the essential background by discussing how Fed policy works in “normal” (pre 2008) times.
The second session, on September 24, will outline the various strategies and facilities that Fed officials adopted to deal with the financial stresses that emerged during the crisis.
The third session, on October 8, will focus on the issues that are likely to arise during the so-called “exit” from the current unusual situation.
Sponsored by the Economics Department Financial Economics Fund.
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