An Evening Discussion with William White, former Economic Adviser and Head of the Economic and Monetary Department of the Bank for International Settlements ‘Do we need a new framework for domestic and international macro-financial stability?’
Tuesday 23rd March 6:00pm, The Policy Exchange, 10 Storey’s Gate, SW1P 3AY

Through its strategic partnership with the Policy Exchange, Pi Capital is delighted to be co-hosting an evening with William White to discuss the question ’Do we need a new framework for domestic and international macro-financial stability?’

William White is the former Chief Economist and Head of the Economic and Monetary Department of the Bank for International Settlements. The oldest, and one of the most influential financial institutions in the world, this bank for central banks fosters international monetary and financial cooperation, has an extensive economic and monetary research department, whilst performing more traditional banking functions for the central bank community. Prior to his time at the BIS he spent 22 years at the Bank of Canada, becoming the Deputy Governor. His early career was at the Bank of England.  As one of the few influential economists who grew uneasy with Greenspan’s "irrational exuberance" of the 1990s, he saw the financial crisis coming and tried to warn others. He has written:

"When you are inside the bubble, everybody feels fine. Nobody wants to believe that it can burst. Nobody is asking the right questions."

He recently wrote a paper on whether monetary policy should "lean" against the upswing of the credit cycle or "clean" up after the downswing. In it he argues for a new macro-financial stability framework that would use regulatory and monetary instruments to resist credit bubbles and thus promote sustainable economic growth over time

www.policyexchange.org.uk

If you would like to attend please RSVP to Philippa Whitehouse

pw@picapital.co.uk

020 7529 5662