Presentation to the Monetary Policy Forum, New York, New York, February 24, 2012

Presentation to the CFA Hawaii Seventh Annual Economic Forecast Dinner, Honolulu, Hawaii, March 1, 2012

Presentation to the University of San Diego School of Business Administration, San Diego, CA. April 3, 2012

Presentation to the Rotary Club of Seattle, Seattle, Washington, September 6, 2011

Presentation to the University of San Francisco Center for the Pacific Rim, San Francisco, California, November 14, 2012

Presentation to the Western Economic Association International, San Francisco, CA, July 2, 2012

Presentation to the joint convention of the Idaho, Nevada, and Oregon Bankers Associations, Coeur d'Alene, ID, July 9, 2012

Textbook monetary theory holds that increasing the money supply leads to higher inflation. However, the Federal Reserve has tripled the monetary base since 2008 without inflation surging. With interest rates at historically low levels and the economy still struggling, the normal money multiplier...

The pace of economic growth has been frustratingly slow and the recovery has lost momentum in recent months. The economy is weighed down by the ongoing European sovereign debt crisis and fiscal tightening in our own country. In these circumstances, it is essential that the Federal Reserve...

Researchers have made great strides in improving our understanding of the effects of unconventional monetary policy. Although further study is needed, the evidence from the past few years demonstrates that both forward guidance and large-scale asset purchases are useful policy tools when...