33rd Annual Monetary Conference: Welcoming Remarks and Keynote Address

Since the 2008 financial crisis, there has been a convergence of monetary policies by major central banks aimed at keeping benchmark interest rates near zero and supporting asset prices in the hope of stimulating economic growth. Yet global growth is still sluggish and the risk of asset bubbles is mounting. The distinguished speakers at this conference will consider the risks of unconventional monetary policy, the steps that need to be taken to normalize policy, and the fundamental question of rules versus discretion in the conduct of monetary policy.