Following a year of unparalleled disruption, loose monetary and fiscal policies have become the new normal and many long-term economic and societal changes remain uncertain. As vaccination programmes pick up pace amid talk of policy normalisation, OMFIF and the Federal Reserve Bank of Philadelphia are hosting a series of seminars to discuss the Federal Reserve’s priorities. Over five days, Fed Week will cover topics from the economics of artificial intelligence, a green recovery, central bank digital currency, financial stability, macroeconomic developments and how all of this is feeding into the decisions the Fed is making.

In session two of the series, the panel discuss:

  • The increasingly important role artificial intelligence and machine learning are playing in everyday life and across different economic activities
  • Role in day-to-day operations and the real economy, financial services and economic stability
  • Regulatory challenges and the factors regulators, policy-makers and economic actors must consider to adjust to a changing economy
  • Macroeconomic developments and the transformation of financial systems
  • The economics of artificial intelligence technology

Register to attend the upcoming meetings in the Fed Week series

Day three 23 June: The impact of digital currency on the financial system

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In session three of the series, the panel will cover:

• The wider impact and potential benefits of distributed ledger technology on the financial system
• DLT design choices, the use of smart contracts or ‘programmable money’ to enable interoperability across blockchain networks within and across borders
• The ideal technological infrastructure to operate central bank digital currencies
• The initiative at the Federal Reserve Bank of Boston to determine design requirements for a US-based CBDC
• The extent that scalability, the balance between privacy and decentralisation, and interoperability are holding back adoption of DLT
• How DLT can interact with existing technologies or vendors
• Underlying policy and political preferences concerning privacy, data administration, market power, cybersecurity and the division of labour between the public and private sectors

Speakers:

Register here.

Day four 24 June: Rebuilding sustainably and equitably

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In session four of the series, the panel will cover:

• How three crises – health, economic and social – are converging into one difficult moment in American history
• What our current economic challenges are and what bold action could look like
• Managing the physical risk climate change poses to the US financial infrastructure and the role of policy and regulation
• Protecting the economically vulnerable communities that are least equipped to cope
• How longer-term shifts in temperature and other climate hazards are impacting productivity and performance across the economy and the role of US financial regulators in managing the risks
• How can we build a society that delivers on the promise of equal opportunity and inclusive success and the Federal Reserve’s ability to change this landscape
• Focusing on investments that leverage the talent of everyone and contribute to the economy’s long-term growth prospects
• ‘Opportunity infrastructure’ and the building blocks that help individuals maximise their potential

Speakers:

 

Register here.

Day five 25 June: Financial stability

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In session five of the series, the discussion will cover:

• The current state of the US economy
• Keeping the wheels turning through the rest of the Covid-19 crisis
• The threat of mounting business debt and bankruptcies
• Banks and capitalisation
• Measures to strengthen the recovery once the health crisis passes
• Volatility in asset prices
• Funding risks and leverage in the financial sector

Speakers:

Register here.

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