What Really Happens at a Fed Research Conference

The podcast delves into the inner workings of an economic research conference, specifically the Boston Fed's annual event, exploring how such gatherings shape economic policy. It highlights the evolving themes discussed, such as tariffs, geopolitical risks, and industrial policy, and their impact on the U.S. economy. The role of discussants in interpreting and critiquing research papers is examined, alongside the motivations of economists to influence policy and publish in prestigious journals. The discussion also touches on the tension between policy-relevant research and academic publishing, and the need for economists to collaborate across different subfields to address complex, linked problems. Insights from Susan Collins, president of the Federal Reserve Bank of Boston, are shared, emphasizing the importance of understanding complexities that may change traditional ways of thinking about economic issues.