This workshop brings together international experts in monetary policy design and implementation—academics, industry experts, and current and former central bankers—to discuss how central banks can effectively implement monetary policy in this new environment.
The program will focus on how innovations in digital currency and payments could influence the money market ecosystem and interact with monetary policy frameworks. In addition, we will examine how digital currencies could be used in cross-border payments in the future and the impact of digital innovation on the demand for dollar assets.
This event is jointly sponsored by Columbia University’s School of International and Public Affairs and the Federal Reserve Bank of New York.
June 1-2, 2022
Columbia University School of International and Public Affairs
International Affairs Building, 15th floor
420 West 118th Street
Circumstances permitting, the workshop will be held in person.
|Wednesday, June 1|
|11am-11:30am||Arrival & Registration|
John Williams, Federal Reserve Bank of New York
David Mills, Board of Governors of the Federal Reserve System
|1pm-2:15pm||Session 1: How do digital currencies fit in the money markets ecosystem?
Panelists will explore how the rapidly evolving landscape of private and public digital currencies and settlement technologies could change money market dynamics.
|2:30pm-3:45pm||Session 2: How could digital currencies impact monetary policy frameworks?
This session will consider how a future including public and private digital currencies, and faster payments, could affect monetary policy frameworks, as well as the size and composition of central bank balance sheets.
Marco DiMaggio, Harvard University
|Thursday, June 2|
|8:30am-8:45am||Arrival & Registration|
Patricia Mosser, Columbia University, School of International and Public Affairs
|9am-9:30am||Digital Asset Perspective
Jeremy Allaire, Circle
|9:30am-10:45pm||Session 3: What are the international implications for digital currencies?
Speakers will discuss the incentives and/or impediments for digital currencies to be used in cross-border payments. Could cross-border digital currencies affect monetary policy implementation, particularly in small open economies?
|11am-11:30am||Dealing with Digital Innovation in Payments
Holger Neuhaus, European Central Bank
|11:30am-12pm||Small Open Economies
Aishah Ahmad, Central Bank of Nigeria
Lorie Logan, Federal Reserve Bank of New York
Attendance is by invitation only.
Antoine Martin, Federal Reserve Bank of New York
Patricia Mosser, Columbia University
Julie Remache, Federal Reserve Bank of New York
Patricia Zobel, Federal Reserve Bank of New York
For questions on the New York Fed-Columbia SIPA Monetary Policy Implementation Workshop, please contact firstname.lastname@example.org.
This event is open to press. Chatham House Rule will be in effect for all but those remarks that are made public as explicitly noted during the event; media may report on comments made during the event, but may not attribute remarks to individuals or organizations. To register, please contact Brian Manning at the New York Fed: email@example.com.
Reserve Reductions, Money Markets, and Future Frameworks (September 28, 2018)