Global Conference 2016

The world's central banks have borne most of the burden of pulling the global economy out of the Great Recession. But that has forced them into uncharted waters on policy and caused what critics say is gross mispricing in financial markets. The Federal Reserve was first with quantitative easing -- essentially buying up massive amounts of bonds -- and Europe and Japan have followed. One result is unprecedented negative yields on European and Japanese government bonds. At the same time, policymakers' decisions in many countries to allow their currencies to devalue, an attempt to boost exports, made the dollar the foreign-exchange strongman in 2014 and 2015 -- which slammed U.S. corporate earnings. The Fed, meanwhile, began to tighten credit last year but has already backed off from its initial rate-hike schedule amid fresh fears that anemic global economic growth was slowing further. The critical question now is whether central banks have run out of tricks to fend off deflation. Our esteemed panel will assess where monetary policy has left the world economy, and what's next.


David Zervos

Chief Market Strategist, Jefferies LLC; Chief Investment Officer, Global Macro Division, Jefferies Investment Advisers


Joachim Fels

Managing Director and Global Economic Advisor, Pimco

Pippa Malmgren

Founder, DRPM Group; Advisor, British Ministry of Defense

James McCormack

Managing Director and Global Head of Sovereign and Supranational Ratings, Fitch

Stephen S. Poloz

Governor, Bank of Canada

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