Monday, May 13, 2024
All times listed are in Eastern Daylight Savings Time (EDT)
8:30–8:50 Registration and Coffee
8:50–9:00 Welcome Remarks
Edward S. Knotek II, Federal Reserve Bank of Cleveland
9:00–9:30 Opening Remarks
Philip N. Jefferson, Vice Chair, Federal Reserve Board of Governors
Q&A with Loretta J. Mester, President, Federal Reserve Bank of Cleveland
Paper Session 1: Central Bank Communications and Financial Markets
Session Chair: Kurt Lunsford, Federal Reserve Bank of Cleveland
9:30–10:30 Tough Talk: The Fed and the Risk Premium | paper
Michael McMahon, Oxford University
Anna Cieslak, Duke University
Discussant: Silvia Miranda-Agrippino, Federal Reserve Bank of New York
10:30–11:00 Break
11:00–12:00 ECB Communication and its Impact on Financial Markets
Klodiana Istrefi, Banque de France
Florens Odendahl, Banco de Espana
Giulia Sestieri, Banque de France
Discussant: Amy Handlan, Brown University
12:00–1:00 Lunch
Paper Session 2: Communications, Policy, and Household Inflation Expectations
Session Chair: Ina Hajdini, Federal Reserve Bank of Cleveland
1:00–2:00 Credibility Gains from Communicating with the Public: Evidence from the ECB’s New Monetary Policy Strategy | paper
Michael Ehrmann, European Central Bank
Dimitris Georgarakos, European Central Bank
Geoff Kenny, European Central Bank
Discussant: Mathias Hoffmann, Deutsche Bundesbank
2:00–3:00 Communicating Inflation Uncertainty and Inflation Expectations | paper
Luba Petersen, Simon Fraser University
Olena Kostyshyna, Bank of Canada
Discussant: Rupal Kamdar, Indiana University
3:00–3:25 Break
3:25–4:25 The Effects of Interest Rate Increases on Consumers' Inflation Expectations: The Roles of Informedness and Compliance | paper
Mathieu Pedemonte, Federal Reserve Bank of Cleveland
Edward S. Knotek II, Federal Reserve Bank of Cleveland
James Mitchell, Federal Reserve Bank of Cleveland
Taylor Shiroff, Federal Reserve Bank of Cleveland
Discussant: Francesco D’Acunto, Georgetown University
4:25–4:30 Transitional Break
4:30–5:30 Panel Session: Challenges and Opportunities for Central Bank Communications
Panel Moderator: Nick Timiraos, Wall Street Journal
Charles Evans, Former President, Federal Reserve Bank of Chicago
Esther George, Former President, Federal Reserve Bank of Kansas City
Randall Kroszner, University of Chicago Booth School of Business
Athanasios Orphanides, MIT Sloan School of Management
5:30-7:30 Reception
