IMF Seminar: How Should Central Banks Battle High Inflation?

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DATE: April 14, 2023

DAY: Friday

11:30 AM - 12:30 PM

LOCATION: IMF HQ1 Atrium (HQ1-1-700)

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The discussion will focus on central banks’ strategies to reduce inflation; how to balance the desire to support employment with the price stability objective; measures to mitigate potential stresses in the financial sector that may complicate monetary policy implementation; and particular challenges faced by EM central banks. It will also provide insights into future monetary policy strategies, considering lessons from both conventional and unconventional monetary policy tools, as well as risks to central bank independence.

Join the conversation via #TacklingHighInflation

IMF Seminar: How Should Central Banks Battle High Inflation?


Panelist: Gita Gopinath

Gita Gopinath is the First Deputy Managing Director of the International Monetary Fund (IMF). She oversees the work of staff, represents the Fund at multilateral forums, leads the Fund’s work on surveillance and related policies, and oversees research and flagship publications. Previously, Ms. Gopinath was the Fund's Chief Economist. In that role, she helmed thirteen releases of the World Economic Outlook. She also worked with other Fund departments on a new analytical approach to help countries respond to international capital flows via the Integrated Policy Framework. Prior to joining the IMF, Ms. Gopinath was the John Zwaanstra Professor of International Studies and of Economics at Harvard University and before that she was an assistant professor of economics at the University of Chicago’s Booth School of Business. Her research, which focuses on International Finance and Macroeconomics, is widely cited and has been published in many top economics journals. She has authored numerous articles on exchange rates, trade and investment, international financial crises, monetary policy, debt, and emerging market crises.

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Panelist: Olivier Blanchard

Olivier Blanchard is the C. Fred Bergsten Senior Fellow at the Peterson Institute for International Economics and the Robert M. Solow Professor of Economics emeritus at the Massachusetts Institute of Technology (MIT). A citizen of France, Blanchard has spent most of his professional life in the United States. After obtaining his PhD in economics from MIT in 1977, he taught at Harvard University and returned to MIT in 1982. He was chair of the economics department from 1998 to 2003. In 2008, he took a leave of absence to serve as economic counsellor and director of the research department at the International Monetary Fund where he stayed until 2015. He then joined the Peterson Institute.

Blanchard has worked on a wide set of macroeconomic issues, including the role of monetary and fiscal policy, speculative bubbles, the labor market and determinants of unemployment, economic transition in former communist countries, and the nature of the Global Financial Crisis. In the process, he has worked with numerous countries and international organizations.

Blanchard is the author of many books and articles, including two textbooks on macroeconomics, one at the graduate level with Stanley Fischer and the other at the undergraduate level. He is a past editor of the Quarterly Journal of Economics and the NBER Macroeconomics Annual and founding editor of American Economic Journal: Macroeconomics. He is a fellow and former Council member of the Econometric Society, a past president of the American Economic Association, and a member of the American Academy of Arts and Sciences.

Panelist: Mohamed El-Erian

Mohamed A. El-Erian is the President of Queens’ College at Cambridge University, the Renee Kerns Professor of Practice at the Wharton Business School, and advisor to Allianz and Gramercy Funds Management. He serves on the boards of Barclays, the NBER, and Under Armour among others. Earlier in his career, Mohamed worked for 15 years at the IMF before moving to PIMCO where he served as Chief Executive and co-Chief Investment Officer. He is a Bloomberg columnist and FT contributing editor. Mohamed obtained his undergraduate degree at the University of Cambridge and his masters and doctorate, also in economics, at Oxford University.

Panelist: Changyong Rhee

Chang Yong Rhee is the Governor of the Bank of Korea and the Chairman of its Monetary Policy Board. He took office for a full term of four years on April 21, 2022. Governor Rhee received a B.A. in Economics from Seoul National University in 1984 and a Ph.D. in Economics from Harvard University in 1989. Prior to his appointment, Governor Rhee was Director of the Asia and Pacific Department at the IMF (2014-2022); Chief Economist of the Asian Development Bank (ADB) (2011-2014); Secretary General and Sherpa of the Presidential Committee for the 2010 G-20 Seoul Summit (2009-2011); Vice Chairman of the Financial Services Commission (FSC) and Chairman of the Securities and Futures Commission of Korea (2008-2009).

Panelist: Silvana Tenreyro

The Chancellor, Rishi Sunak, announced that Professor Silvana Tenreyro will be appointed for a second three-year term as an external member of the Monetary Policy Committee (MPC). Her second term will start from 5 July 2020.

Silvana Tenreyro is Professor in Economics at the London School of Economics. She obtained her MA and PhD in Economics from Harvard University. Before joining the Bank, she was co-Director and Board member of the Review of Economic Studies and Chair of the Women’s Committee of the Royal Economics Society. She is a Fellow of the British Academy (FBA)Opens in a new window and a Fellow of the Econometric Society. She is a former President of the European Economic Association.

Moderator: Tom Keene

Tom Keene is the co-anchor of Bloomberg Surveillance on Bloomberg Television, weekdays from 5-7am ET and on Bloomberg Radio from 7-10am ET.

In addition to his work on Bloomberg Surveillance, Keene provides economic and investment perspective to Bloomberg Television and to Bloomberg’s various news divisions. Keene also founded the “Chart of the Day” article, available on the Bloomberg Professional Service. Keene is the editor of “Flying on One Engine: The Bloomberg Book of Master Market Economists,” published in 2005. (Two chapters appeared in the CFA Institute curriculum.) A graduate of Rochester Institute of Technology, Keene is a Chartered Financial Analyst and a member of the CFA Institute, the National Association for Business Economics, the American Economic Association, and the Economic Club of New York.

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