Fed Releases Agenda for June Monetary Policy Strategy Conference

(Bloomberg) --

The Federal Reserve released the program for a June conference on the conduct of monetary policy that will be comprised of mostly academics but will also include a smattering of representatives from unions, small businesses and other community groups.

The two-day conference, to be held June 4-5 at the Chicago Federal Reserve Bank, will mark the culmination of unprecedented months-long effort to gather views from outside the central bank on its monetary policy strategy, tools and communication practices.

The wide-ranging review is being carried out against the backdrop of continued attacks on the Fed by President Donald Trump, who has accused it of needlessly holding back the economy and the stock market by raising interest rates last year.

The Chicago conference will include presentations by such academics as James Stock of Harvard University, Lars Svensson of the Stockholm School of Economics and former International Monetary Fund chief economist Maurice Obstfeld, now at the University of California, Berkeley.

Among those representing community groups on conference panels are Patrick Dujakovich, president of the Greater Kansas City AFL-CIO labor group, Holly Wade, a research director at the National Federation of Independent Business, and David John, of the AARP non-profit that mostly represents retirees.

Fed Chairman Jerome Powell will make welcoming remarks on the first day and Vice Chairman Richard Clarida will get the second day underway. Fed Governor Lael Brainard and Boston Fed President Eric Rosengren will both moderate panels.

The Fed has said it plans to announce the results of its wide-ranging review in the first half of next year after discussing it internally in the wake of the June conference.

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