University of Chicago GSB

2012 US Monetary Policy Forum

February 24, 2012 – New York, New York

This annual conference brings together academics, market economists and policy makers. The conference is sponsored by the Initiative on Global Markets at the University of Chicago Booth School of Business.

Attendance at the USMPF conference is by invitation only. View list of participants (PDF)

Program

The conference began with a speech titled "A Monetary Policy Framework for all Seasons," delivered by Mark Carney (Governor of the Bank of Canada). Listen to webcast of speech

Following the speech, there was a presentation on this year’s report titled Housing, Monetary Policy, and the Recovery, which explores first, how bad is the physical and debt overhang of housing in the US economy? And secondly, does the peculiar state of the US housing market substantially limit the effectiveness of monetary policy that lowers long rates? The report was written by Mike Feroli (JP Morgan), Ethan Harris (Bank of America), Amir Sufi (Chicago Booth), and Ken West (University of Wisconsin).

The report was discussed by the following:

The meeting concluded with a panel discussion on fiscal challenges around the world moderated by Tom Keene (Bloomberg) and featured: