2017 Regional Economic Briefing and Breakfast

Featuring Kevin Kliesen, Business Economist

Friday, August 12, 2016
Registration – 7:00am
Breakfast Buffet – 7:15am
Hilton Memphis
939 Ridgelake Boulevard
Memphis, TN 38119
Registration Deadline – August 9th

The Economic Club of Memphis in partnership with the Federal Reserve Bank of St. Louis – Memphis Branch is pleased to present the 2017 Regional Economic Briefing and breakfast on Friday, August 12, 2016. The speaker will be Kevin Kliesen, business economist and Bank Officer in the Research Division at the Federal Reserve Bank of St. Louis.

The topic will be “The St. Louis Fed’s New Characterization of the Outlook for the US Economy.” Kevin shared, “Every three months, the Federal Reserve Presidents and Governors are asked to submit economic projections for real GDP growth, inflation, and the unemployment rate. For the past few years, the St. Louis Fed has projected that the economy would enjoy a burst of growth that would drive the unemployment rate lower than most forecasters assumed. We also thought that the combination of stronger growth and a very easy monetary policy would cause inflation to temporarily exceed the Fed’s 2 percent inflation target. In response to these economic outcomes, we envisioned steady increases in the Fed’s interest rate target—the process known as policy normalization. We hit the marks on some aspects of this forecast, but missed on others. But with the economy now into its eighth year of economic expansion, and the policy normalization process seemingly stalled, we have changed our forecast narrative. In particular, and perhaps most importantly, current economic conditions lead us to foresee little change in the Fed’s interest-rate target over the next two and a half years. I will discuss those factors that caused us to change to a new economic forecast narrative.”

A breakfast buffet will begin at 7:15 am. This meeting is open to the public at no charge. Reservations are required. Please share the details with friends and colleagues who may be interested in attending. Please RSVP by Tuesday, August 9, 2016.

Kevin L. Kliesen joined the Bank in 1988. From mid-2010 to mid-2012, he was part of the Supervisory Policy and Risk Analysis Unit, which is housed in the Bank’s Supervision and Regulation Division. He holds an M.A. in Economics from Colorado State University. In his position as a business economist, he analyzes current U.S. macroeconomic and financial market developments and trends for the Bank president and staff economists prior to each Federal Open Market Committee meeting. He also reports on and analyzes economic conditions in the seven states of the Eighth Federal Reserve District. In this capacity, he manages the District’s economic outreach activities. An important aspect of this responsibility involves managing the Bank’s Burgundy Books and developing various materials and information sources for the Bank’s outreach efforts. Another important aspect of this position involves speaking to the general public and professional groups about U.S. and Eighth District economic developments. He has written and published extensively and developed (with his former colleague, Doug Smith) the St. Louis Financial Stress Index. In addition to his responsibilities at the Federal Reserve Bank of St. Louis, he taught part-time for the Department of Economics at Washington University in St. Louis from 2006 to 2013. Professionally, he is a member of the American Economic Association, the National Association for Business Economics (NABE), and the Association of Christian Economists. In September 2011, he was recognized as a NABE Fellow, one of the organization’s highest honors.

 

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