Levy Graduate Programs and Levy Economics Institute Present
Insights from a 25-Year Monetary Policy Experiment
Paul Sheard, Author of The Power of Money
Wednesday, March 11, 2026
Blithewood
11:30 am – 12:50 pm EDT/GMT-4
The year 2026 marks the 40th anniversary of the Levy Institute’s founding, and this event inaugurates a broader series of programs commemorating this significant milestone.11:30 am – 12:50 pm EDT/GMT-4
Veteran central bank watcher Paul Sheard will share his insights about Quantitative Easing as March marks a quarter of a century since the Bank of Japan launched this new form of monetary policy easing. Initially, a curiosity emanating from deflation-ridden Japan, QE was embraced big time by the Federal Reserve and other major central banks during the Global Financial Crisis and then again, on an even bigger scale, during the pandemic. Sheard will explain what QE is and how it works, and cast light on the confusions and controversies that surround it. He will explain why QT (Quantitative Tightening) gets less attention than QE, and why QE, together with an obscure legal change (the Fed and other central banks being able to pay interest on reserves), has changed monetary policy-making forever.
For more information, call 845-758-6822, e-mail [email protected],
or visit https://www.levyinstitute.org/events/event/insights-from-a-25-year-monetary-policy-experiment/.
Time: 11:30 am – 12:50 pm EDT/GMT-4
Location: Blithewood
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