Policymakers here and abroad cannot lose sight of a fundamental truth: In a world of separate currencies that can fluctuate against each other over time, each country’s central bank determines its inflation rate. If the FOMC were to allow the U.S. economy to run beyond its sustainable...

After the current quantitative easing program ends, it would be natural for the FOMC to put monetary policy on hold.

"Death of a Theory," presented in St. Louis. January 13, 2012.

15th Annual Credit Suisse Asian Investment Conference,> Hong Kong, March 23, 2012

March 2, 2012. Presentation. "The U.S. Economy in the Aftermath of the Financial Crisis." Presented at the Bank of Montreal Lecture in Economics, Simon Fraser University, Vancouver, British Columbia.

April 5, 2012. Presented at the InvestMidwest Venture Capital Forum, St. Louis.

"SNEAK PREVIEW: Death of a Theory." Presented at the Korea-America Economic Association, Chicago, Illinois. January 7, 2012.

February 24, 2012. "Comments on 'Housing, Monetary Policy, and the Recovery' by Michael Feroli, Ethan Harris, Amir Sufi, and Kenneth West." Given at the 2012 U.S. Monetary Policy Forum, Initiative on Global Markets, University of Chicago Booth School of Business.

May 30, 2012. "Demographics, Redistribution, and Optimal Inflation," with Carlos Garriga and Christopher J. Waller. Presented by Christopher Waller at the 2012 BOJ-IMES Conference Demographic Changes and Macroeconomic Performance.