PARTICIPANTS
Charles Plosser, Monica Bhole, Michael Boskin, Simon Hilpert, Monika Piazzesi, Ken Scott, Ian Wright
ISSUES DISCUSSED
Charles Plosser, president of the Federal Reserve Bank of Philadelphia, discussed the current state of the economy and the role of the Federal Reserve. Plosser began by speaking about financial restructurings in the economy, and their influence on real output and growth. He then discussed how the role of the Federal Reserve has been evolving since the financial crisis, and the effectiveness of its policy instruments and actions. Plosser also commented on expectations markets have about the role of the Federal Reserve. Plosser concluded by discussing the changing nature of unemployment in the United States, the evolving labor force, and what policy makers must understand in order to design effective policy that will combat high unemployment.
