Federal Reserve Bank of Minneapolis | April 9-10, 2019 | Minneapolis, MN

Spring 2019 Institute Conference

Fed Listens: Distributional Consequences of the Cycle and Monetary Policy

In November 2018, the Federal Reserve System announced an effort to review how it formulates, conducts, and communicates monetary policy. As part of this review, the Opportunity & Inclusive Growth Institute—a System initiative housed at the Federal Reserve Bank of Minneapolis—will host a conference to explore and discuss the distributional consequences of the business cycle and monetary policy.

We are particularly interested in gaining a better understanding of the trade-offs associated with alternative approaches to monetary policy and how these approaches impact different populations. Additionally, we seek to understand distributional considerations that should inform the System’s view of the economy in monetary policymaking.

This conference is one of a “Fed Listens” series of events that district banks are conducting as part of the overall System policy review. These events are designed to bring diverse perspectives and voices to the policy review, and proceedings will be shared publicly. This discussion also underscores our accountability to the public for achieving our dual mandate assigned by Congress to pursue maximum employment and price stability.

The Minneapolis Fed conference will feature a keynote by Richard Clarida, Vice Chairman of the Board of Governors of the Federal Reserve System and a leader of this review effort. As always, we look forward to learning from a variety of diverse voices, from academic researchers, policy experts, and local leaders. The event will be live-streamed to the public.


Tuesday, April 9

1:00 p.m. - 1:15 p.m.
Introduction and Welcome
1:15 p.m. - 3:45 p.m.
Research Panel 1
  • Fatih Guvenen, University of Minnesota
  • Greg Kaplan, University of Chicago
  • Moritz Kuhn, University of Bonn
  • Diane Schanzenbach, Northwestern University
3:45 p.m. - 4:00 p.m.
4:00 p.m. - 5:30 p.m.
Policy Panel 1
  • Jared Bernstein, Center on Budget and Policy Priorities
  • Aparna Mathur, American Enterprise Institute
5:45 p.m.
Dinner Keynote
Richard Clarida, Vice Chairman of the Board of Governors of the Federal Reserve System

Wednesday, April 10

7:45 a.m.
Continental Breakfast
8:15 a.m. - 10:45 a.m.
Research Panel 2
  • Alisdair McKay, Federal Reserve Bank of Minneapolis
  • Martin Schneider, Stanford University
  • Till von Wachter, University of California at Los Angeles
  • Isabel Cairo, Board of Governors of the Federal Reserve System
10:45 a.m. - 11:00 a.m.
11:00 a.m. - 12:30 p.m.
Policy Panel 2
  • William Spriggs, Howard University
  • Sarah Bloom Raskin, Duke University
12:30 p.m. - 2:00 p.m.
Lunch Panel
Fed Listens: Perspectives from the Community
2:00 p.m.
Adjourn Conference

For questions, please contact mplsinstitute@mpls.frb.org