The perceived negative consequences of spillovers from the actions of central banks around the world have led to increasing calls for international monetary policy coordination. Rules for International Monetary Stability reports on the results of a Hoover Institution conference that brought together academics, financial experts, and policy makers to focus on the need for a classic rules-based reform of the international monetary system. 

Top economists and policy makers discussed the efficacy of different approaches to monetary policy at the Hoover Institution on May 3. More than 180 people attended the sixth annual Monetary Policy Conference – titled “Strategies for Monetary Policy: A Policy Conference” – in the David and Joan Traitel Building’s Hauck Auditorium. Hoover economist John Taylor organized the event, which included formal presentations, policy panels, and in-depth discussions by academic researchers, market participants, members of the media, and policy makers from the Federal Reserve.

The illusion that Barack Obama will lead from the economic center has quickly come to an end. President Obama is returning to Jimmy Carter’s higher taxes and Bill Clinton’s draconian defense drawdown.

Since 2014, John B. Taylor, the George P. Shultz Senior Fellow at the Hoover Institution, has hosted annual conferences of leading monetary policy makers, financial authorities, and academic economists to discuss the unprecedented post-2008 economic climate and help set the tone for future monetary reform. This year’s forum, titled “International Monetary Stability: Past, Present, and Future,” drew an impressive list of participants including four Federal Reserve Bank presidents and numerous representatives from the Federal Reserve System, academia, the financial sector, and business media. 

Erik Hurst, V. Duane Rath Professor of Economics at the University of Chicago, and Deputy Director of the Becker Friedman Institute, talked about “The Transformation of Manufacturing and the Decline in U.S. Employment.”

Hoover fellow Milton Friedman talks with Hoover media fellow Peter Brimelow about inflation, currency values, and the Asian crisis. An end-of-the-century interview with one of the century’s great economists.

Revisiting the founding father to whom a national debt, properly funded, represented “a national blessing.” By Michael W. McConnell.

Interest Rate adjustments by the Federal Reserve are among the most closely watched and anticipated of all economic policy decisions. Yet many economists believe the Fed no longer has the power it once did to regulate the economy. So just how powerful is the Fed today? What tools does the Fed have to regulate the economy, and how should they be used?