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What’s (not) up with inflation?

Past Event

Introduction & The Puzzle

It’s all about monetary policy and inflation expectations
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It’s all about monetary policy and inflation expectations

It’s all about technology and globalization
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It’s all about technology and globalization

So what are the implications for policy?
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So what are the implications for policy?

For the past decade, inflation hasn’t behaved the way economic models predicted. The inflation rate didn’t fall as much during the Great Recession as expected, and it hasn’t climbed as much as expected as the economy and labor market recovered. An earlier generation of central bankers struggled to bring inflation down. Today, the Federal Reserve and other major central banks are struggling to bring inflation up to their publicly announced targets. Experts are debating if the global economy has changed in profound ways, or if inflation is simply sleeping and will awaken sometime.

On October 3, the Hutchins Center on Fiscal & Monetary Policy at Brookings explored the various explanations for the unusual behavior of inflation and the implications for monetary and other policy, with several experts.

Read Janet Yellen’s opening remark here»

Agenda

Introduction

Glenn Hutchins

Co-Founder - North Island

Co-Founder - Silver Lake

Co-Chair of the Board - The Brookings Institution

It’s all about monetary policy and inflation expectations

Silvana Tenreyro

Member, Monetary Policy Committee - Bank of England

Professor in Economics - London School of Economics

Michael Weber

Associate Professor of Finance - University of Chicago Booth School of Business

It’s all about technology and globalization

Alberto Cavallo

Edgerley Family Associate Professor of Business Administration - Harvard Business School

Kristin J. Forbes

Jerome and Dorothy Lemelson Professor of Management, Professor of Global Economics and Management - MIT-Sloan School of Management

It’s all about the labor market

Ekaterina Peneva

Principal Economist, Prices and Wages - Federal Reserve Board

So what are the implications for policy?

Loretta Mester

President and CEO - Federal Reserve Bank of Cleveland

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