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In her welcoming remarks to the conference, Hoover Director Condoleezza Rice sets the tone, stating that the United States is \"experiencing an avalanche of uncertainty, with everything about the international order in question, including the United States' role in it.\u003c\/p\u003e \u003cp\u003eWith inflation still stubbornly above the Federal Reserve's 2% target at the time of the conference, how to finish the inflation-reduction job was a natural point of focus. But contributors also explore in depth many other challenges and questions on monetary policy that lie ahead: How should central banks counter a new surge of inflation, should one arise? What lessons should we take from the 2021-22 inflationary episode? Are tariffs the next supply shock? How should central banks adapt their formal strategies, constructed in an era of zero-interest rates and low inflation? How should financial regulation adapt to the uncertainties of geopolitics and the big technological innovations going on around us?\u003c\/p\u003e \u003cp\u003eThis year's conference included a celebration of the life and career of John B. Taylor. Many essays convey this spirit of homage, noting the influence of Taylor and the Taylor rule on policymaking. Among its eight sections, the book proceeds by exploring current issues in finance and the financial regulation of cryptocurrency, the growing role of private credit, and how the history of the price stability objective reverberates in the present day. Monetary policy must adapt to this very new world.\u003c\/p\u003e","brand":"WoB","offers":[{"title":"- \/ - \/ INTERNAL","offer_id":53403477672209,"sku":null,"price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":53403477737745,"sku":"NIN9780817927141","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780817927141.jpg?v=1776143708"},{"product_id":"celebration-honoring-john-b-taylor-s-contributions-to-economics-and-monetary-pol-book-michael-d-bordo-9780817927240","title":"A Celebration Honoring John B. Taylor's Contributions to Economics and Monetary Policy","description":"\u003cp\u003eJohn B. Taylor: Economist, Teacher, and Architect of Modern Policy\u003c\/p\u003e \u003cp\u003eFew have had an impact on the world of economics and monetary policy equal to that of John B. Taylor. A professor of economics at Stanford University and fellow at its Hoover Institution since 1984, Taylor has made influential contributions in monetary policy, public service, and academia for five decades.\u003c\/p\u003e \u003cp\u003eA Celebration Honoring John B. Taylor's Contributions to Economics and Monetary Policyis based on a conference held May 8, 2025, at the Hoover Institution to honor Taylor's life and career. Many of Taylor's colleagues and students past and present, other monetary experts, and family and friends came together to pay tribute and share insightful anecdotes of his character and dedication.\u003c\/p\u003e \u003cp\u003eReflecting the conference proceedings, this volume shares the presentations and vivid discussions around Taylor's role as a leading economist, from his development of the influential Taylor rule--an important tool of monetary policy--to his laudable public service in the US Treasury and on the Council of Economic Advisers under Presidents Ford, Carter, and George H. W. Bush.\u003c\/p\u003e \u003cp\u003eNineteen chapters from scholars and officials who were involved in Taylor's career are introduced by opening remarks from Stanford University President Jonathan D. Levin and a letter from Federal Reserve Board Chair Jerome H. Powell, who states the Taylor rule \"has become an international benchmark in the practical analysis of central banks' interest rate policies. Groups of essays and panel discussions follow, focusing on different aspects of Taylor's career.\u003c\/p\u003e \u003cp\u003eTaylor's work has been highly influential in monetary policy circles as well as in academic publications. Its impact is enhanced by his deep policy engagement, whether through his late-1970s work on optimal policy, his role in the reconstruction of Iraq's monetary and financial system, or his early commentary predicting the Global Financial Crisis.\u003c\/p\u003e \u003cp\u003eThis volume further captures how John's influence extended through personal interactions with academic colleagues, central bankers, and policymakers around the world, and generations of students, creating a legacy that is sure to stand the test of time.\u003c\/p\u003e","brand":"WoB","offers":[{"title":"- \/ - \/ INTERNAL","offer_id":53500517679377,"sku":null,"price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":53500517712145,"sku":"NIN9780817927240","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780817927240.jpg?v=1779185032"}],"url":"https:\/\/www.worldofbooks.com\/collections\/author-books-by-michael-d-bordo.oembed?page=2","provider":"World of Books ","version":"1.0","type":"link"}