Operating monetary policy in a low-inflation environment is probably easier, and is certainly more constructive for the economy, than operating it in a high inflation environment.

A diverse group of economists and policymakers gathered in Woodstock, Vermont, in October 1999 to discuss the conduct of monetary policy in a low-inflation environment. The conference was held at a time when many countries had successfully reduced their inflation rates to the low single digits,...

What happens when an academic researcher becomes a policymaker? Recently, President Anthony Santomero shared some thoughts on this topic with members for the Downtown Economists Club in New York City. In particular, he talked about several conundrums he's encountered since moving from the...