Our theme this year, "How to Get Back on Track," follows up on last year’s “How Monetary Policy Got Behind the Curve.” A key goal of the conference is to examine how to get back on track and, thereby, how to reduce the inflation rate without slowing down economic growth. The policy issue is largely international, with special discussions of Asia, Europe, and Latin America. This is a policy-oriented conference consisting of formal presentations, policy panels, and indepth discussions. The conference builds on previous Hoover monetary policy conferences going back fifteen years, from the 2008 conference up to the 2022 conference. Read about our 15-year milestone here. Background papers will be provided in advance of the conference.

This conference is by invitation only.

Time Content Participants

7:30–8:15 AM



8:15 AM

Welcome and Opening Remarks

Condoleezza Rice, Director, Hoover Institution

8:30 AM

30 Year Anniversary of the Taylor Rule - (video)

Richard Clarida, Columbia University (slides)

John Lipsky, Senior Fellow, Johns Hopkins University and Former First Deputy Managing Director, International Monetary Fund (slides)

Volker Wieland, Goethe University, Frankfurt (slides)

Chair: John Cochrane, Stanford University

9:45 AM

Financial Regulation: SVB and Beyond - (video)

Darrell Duffie, Stanford University (slides)

Randal Quarles, The Cynosure Group

Amit Seru, Stanford University (slides)

Chair: Anat Admati, Stanford University

11:00 AM


11:15 AM

Disinflation and the Stock Market - (video)

Read Disinflation and the Stock Market: Third World Lessons for First World Monetary Policy Here

Peter Henry, Stanford University (a paper with Anusha Chari) (slides)

Lead Discussant: Joshua Rauh, Stanford University (slides)

Chair: William Nelson, Bank Policy Institute

12:30 - 1:45 PM

Lunch - Inflation Targeting in Japan, 2013–2023 - (video)

Haruhiko Kuroda, Former Governor, Bank of Japan

Chair: John Taylor, Stanford University

1:45 PM



2:00 PM

Central Bank Balance Sheets - (video)

Read The Safety Net: Central Bank Balance Sheets and Financial Crises, 1587-2020 Here

Niall Ferguson, Stanford University, and

Paul Schmelzing, Boston College (a paper with Martin Kornejew and Moritz Schularick) (slides)

Lead Discussant: Barry Eichengreen, University of California, Berkeley (slides)

Chair: Michael Bordo, Rutgers University

3:15 PM

Forecasting Inflation and Output - (video)

Read The Fed: Bad Forecasts and Misguided Monetary Policy Here

Mickey Levy, Berenberg Capital Markets, LLC (slides)

Lead Discussant: Steven Davis, University of Chicago and Stanford University (slides)

Chair: James Wilcox, University of California, Berkeley

4:30 PM


4:45 PM Toward a Monetary Policy Strategy - (video)

James Bullard, President, Federal Reserve Bank, St Louis (slides) (press release)

Philip Jefferson, Governor, Federal Reserve Board (speech)

Jeff Lacker, Shadow Open Market Committee, and

Charles Plosser, Shadow Open Market Committee (slides)

Chair: John Taylor, Stanford University

6:00 - 6:30 PM


6:30 PM Dinner - Latin American Inflation - (video)

Sebastian Edwards, University of California, Los Angeles (slides)


If you have any questions about the event, contact Marie-Christine Slakey at slakey@stanford.edu.

Upcoming Events

Wednesday, November 29, 2023 3:00 PM PT
Taiwan's 2024 General Elections: The Campaign So Far
On behalf of Taiwan in the Indo-Pacific Region, the Hoover Institution host Taiwan's 2024 General Elections: The Campaign So Far on Wednesday,… Hoover Institution, Stanford University
Wednesday, November 29, 2023 4:00 PM PT
Milton Friedman: The Last Conservative
L&A Book Talk: “Milton Friedman: The Last Conservative” By Jennifer Burns
Jennifer Burns will discuss her new Milton Friedman biography at an upcoming talk hosted by the Hoover Institution Library & Archives. Stauffer Auditorium, Hoover Institution, Stanford University
Thursday, November 30, 2023
Executive Leadership In A Polarized Era: Rebuilding Trust In American Institutions
Governors Wes Moore (D-Maryland) and Christopher Sununu (R-New Hampshire) will be in conversation with Hoover Institution Director Condoleezza Rice… Hoover Institution, Stanford University | Hauck Auditorium
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