Fed Listens San Francisco

A Hot Economy: Sustainability and Trade-offs

Thursday, September 26, 2019
Federal Reserve Bank of San Francisco
101 Market Street
San Francisco, CA 94105

In 2019, the Federal Reserve has launched a listening tour, reaching out
to a broad range of people across the country. Through it, the Fed wants
to hear views on how best to pursue its mandated goals of maximum
employment and stable prices.

The San Francisco Fed hosted one of the Fed Listens tour stops on
September 26. At the all-day meeting, invited researchers, policymakers,
and public officials, as well as business practitioners and community
representatives, discussed the costs, benefits, and sustainability of
running a hot economy.

You can learn more about the Fed Listens initiative and events at
Board of Governors information site
and in our summary of the SF Fed event (pdf, 199 kb).

A key goal of the Fed Listens initiative is public accessibility.
With that in mind, here are videos and presentations from our sessions.

8:45 a.m. Welcoming Remarks

Mary Daly, President, Federal Reserve Bank of San Francisco
Richard Clarida, Vice Chair, Federal Reserve Board of Governors

Watch the presentation

9:15 a.m. Policy trade-offs of running a hot economy

Douglas (Doug) Elmendorf, Dean and Don K. Price Professor of Public Policy, Harvard Kennedy

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9:45 a.m. Q & A
10:00 a.m. Break
10:30 a.m. Panel discussion:
Research perspectives on the costs and benefits of a hot

Sylvain Leduc, Executive VP and Director of Research, FRBSF


Sarah Bohn, Director of Research and Senior Fellow, Public Policy Institute
of California
Heather Boushey, Executive Director and Chief Economist, Washington Center for
Equitable Growth
Jason Furman, Professor of the Practice of Economic Policy, Harvard Kennedy
Douglas Holtz-Eakin, President, American Action Forum

Watch the presentation
View the presentation slides (pdf, 2mb)

11:30 a.m. Q & A
1:30 p.m. Panel discussion:
A community development and labor perspective

Rob Valletta, Group Vice President, Research Communications, FRBSF


Carrie Cihak, Chief of Policy, King County
Isela Gracian, President, East Los Angeles Community Corporation
Carolina Reid, Assistant Professor of City & Regional Planning, UC Berkeley
Carmen Rojas, President, Workers Lab

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View the presentation slides (pdf, 620kb)

2:30 p.m. Q & A
2:45 p.m. Break
3:00 p.m. Panel discussion: Business opportunities and challenges

Mark Gould, First Vice President, FRBSF


Russell A. (Chip) Childs, President and CEO, SkyWest, Inc.
Patricia (Pat) R. Richards, President and CEO, SelectHealth
Rosemary Turner, president (retired) of UPS
Northern California and Deputy Chair, FRBSF head office Board of
David White, National Executive Director, SAG-AFTRA

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4:00 p.m. Q & A
4:15 p.m. Closing Keynote

Atif Mian, Professor of Economics, Princeton University

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View the presentation slides (pdf, 318kb)