- Joined
- 7/14/06
- Messages
- 369
- Points
- 28
Dear Students, Alumni and Faculty,
The Quant Network at Baruch's Financial Engineering MS Program is proud to present a talk from Ms. Karen Johnson, former Director of the Division of International Finance at the Board of Governors of the Federal Reserve System.
Location: TBD
When: Friday, February 20, 2009 6:30 - 8:00pm
There will be a question and answer session following the talk.
Abstract
Bio
The Quant Network at Baruch's Financial Engineering MS Program is proud to present a talk from Ms. Karen Johnson, former Director of the Division of International Finance at the Board of Governors of the Federal Reserve System.
Location: TBD
When: Friday, February 20, 2009 6:30 - 8:00pm
There will be a question and answer session following the talk.
Abstract
The Federal Reserve both seeks to extract information from the financial markets and to use the financial markets as a transmission channel of monetary policy. Over time, as the financial markets have introduced new products and become more sophisticated, the Fed has developed more complex analytical tools to enable it to extract more detailed information from asset prices and from changes in asset prices. This analysis gives the Fed a clearer picture of the policy impulse that results in real time from a given change in its normal policy tool, the target federal funds rate. With very short-term interest rates now at or close to zero, this standard framework for monetary policy no longer applies. What has the Fed revealed about its framework in the current quantitative easing stance of policy?
Bio
Karen Johnson was Director of the Division of International Finance at the Board of Governors of the Federal Reserve System from October 1998 until September 2007. Ms. Johnson was awarded a Bachelor of Arts degree in Economics from Radcliffe College in 1967. She then attended the Massachusetts Institute of Technology, where she earned a Ph.D. in economics in 1973. Ms. Johnson joined the faculty of the Economics Department of Stanford University, where she taught for six years. In 1979, she moved to Washington, D.C. as an economist in the Division of International Finance at the Federal Reserve Board. She became Chief of the World Payments and Economic Activity Section in 1984, Assistant Director of the Division of International Finance in 1985 and Associate Director in 1997. As Director of that division, she was responsible for analysis of developments in international capital and financial markets, of macroeconomic and policy issues in foreign countries, and of the external transactions of the United States and for oversight of research on topics in international trade and finance. As of February 2008, Ms. Johnson is retired from the Federal Reserve and is a self-employed economic consultant.
