61st Economic Conference explores discretion and monetary policy
Conference photos, video, and papers available
The Federal Reserve Bank of Boston’s 2017 economic conference, Are Rules Made to be Broken? Discretion and Monetary Policy, brought together economists from around the country and world to discuss whether monetary policy should follow a rules-based approach, or focus on outcomes (like maximum sustainable employment and stable prices) and allow policymakers discretion in determining how best to achieve them.
Participants and attendees included Boston Fed President Eric Rosengren, who offered opening remarks; Reserve Bank Presidents George (Kansas City) and Kaplan (Dallas); Stanford University’s John B. Taylor (known for the “Taylor Rule”); economists from other Reserve Banks and universities; and a number of global central bankers.