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Session 4: Luncheon - Monetary Policy in Transition
Previous Session | Program | Next Session
In the not too distant future, monetary policy will make the sometimes difficult transition to a more neutral stance as the expansion becomes self-sustaining and less stimulus becomes desirable. Complicating this transition will be the uncertain, but potentially significant, changes in underlying productivity growth, and potentially sharp changes in fiscal policy. At the same time the Fed will likely continue to refine its practices to improve its effectiveness, especially in a low inflation/low interest rate environment. How the Fed meets these, as well as other challenges, will importantly influence how the economy fares in the years ahead. Governor Kohn will present his views on how the Fed will meet the many challenges that lie ahead.
Session Presentations
Links of Interest
- Board of Governors, Federal Reserve System
- Federal Open Market Committee
- Monetary Policy Report to Congress
Press Coverage of speech
- Forbes
- Washington Post "Fed Continues on Patient Path"
Speakers
Duncan Meldrum, NABE President and Chief Economists, Air Products and Chemicals, presiding
Carl R. Tannenbaum, Chief Economist, LaSalle Banks/ABN AMRO NA, introduction
Donald L. Kohn
Member, Board of Governors
Federal Reserve System
Donald
L. Kohn took office on August 5, 2002, as a member of the Board of Governors
of the Federal Reserve System for a full term ending January 31, 2016.
Dr. Kohn was born on November 7, 1942, in Philadelphia, Pennsylvania. He received a B.A. in economics in 1964 from the College of Wooster and a Ph.D. in economics in 1971 from the University of Michigan.
Dr. Kohn is a veteran of the Federal Reserve System. Before becoming a member of the Board, he served on its staff as Adviser to the Board for Monetary Policy (2001-02), Secretary of the Federal Open Market Committee (1987-2002), Director of the Division of Monetary Affairs (1987-2001), and Deputy Staff Director for Monetary and Financial Policy (1983-87). He also held several positions in the Board's Division of Research and Statistics--Associate Director (1981-83), Chief of Capital Markets (1978-81), and Economist (1975-78). Dr. Kohn began his career as a Financial Economist at the Federal Reserve Bank of Kansas City (1970-75).
Dr. Kohn has written extensively on issues related to monetary policy and its implementation by the Federal Reserve. These works were published in volumes issued by various organizations, including the Federal Reserve System, the Bank of England, the Reserve Bank of Australia, the Bank of Japan, the Bank of Korea, the National Bureau of Economic Research, and the Brookings Institution.
He was awarded the Distinguished Achievement Award from The Money Marketeers of New York University (2002) and the Distinguished Alumni Award from the College of Wooster (1998).
Dr. Kohn and his wife, Gail, have two children, Laura and Jeffrey, both married.
National Association for Business Economics
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Washington, DC 20036
Phone 202.463.6223 Fax 202.463.6239
nabe@nabe.com
© 2003, NABE®
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