12-03-2024
In a wide-ranging conversation titled “The Federal Reserve: History & Monetary Policy,” Jim Bullard discussed the past, present and future of monetary policy, inflation, macroeconomic modeling, the Federal Open Market Committee, Federal Reserve chairs and more.
Bullard, Dr. Samuel R. Allen Dean of the Mitch Daniels School of Business, appeared on the Hoover Institution’s Economic Policy Working Group video podcast Capitalism and Freedom in the 21st Century. The discussion was hosted by Jon Hartley, a research assistant at the Hoover Institution and an economics PhD candidate at Stanford University.
The two covered the Fed’s response to the Great Recession and a shift in the entire Federal Reserve System: today it is largely staffed by economists who hold PhDs, whereas it was once run by lawyers and bankers. Bullard was president of the Federal Reserve Bank of St. Louis alongside three different Fed chairs, Ben Bernanke, Janet Yellen and Jay Powell, and Bullard offered his take on the trio.
Hartley also asked Bullard about his key objectives for the Daniels School.
“My story has been that technology ate the business world a long time ago. And so, what you need to do for the business school here going forward is to integrate technology in business so it's tightly integrated,” Bullard told Hartley. “It’s one in the same thing, to think about what’s the latest technology that could disrupt businesses in the future, but also to have the engineers know basic business principles so that they can take interesting ideas and take them all the way to market and be successful.
“So, I think that sort of business and technology integration is going to be very promising for the Daniels School going forward. Hopefully, we'll be able to carry that forward and have lots of great students that come through our program and are able to make great contributions in the business world. We have a lot of that already, but I think we can take it to an even higher level,” Bullard said.
Watch or listen to the full podcast episode here.
